wrap fee
n.— «It allows broker-dealers to charge fees based on assets under management (sometimes referred to as a “wrap fee”) rather than product commissions—just as the registered investment advisers do. If the client’s portfolio goes up in value, so does the broker’s compensation. Brokers no longer have to push products to earn a reasonable return from their clients.» —“The Minnesota Investor: A ruling for the clients” by Gene Walden Star Tribune (Minneapolis-St. Paul, Minnesota) July 7, 2007. (source: Double-Tongued Dictionary)
Further reading
Sure, there’s winter, spring, summer, and fall. But the seasons in between have even more poetic names. In Alaska, greenup describes a sudden, dramatic burst of green after a long, dark winter. And there are many, many terms for a cold snap...
Carrie Ann and her cousin Danielle from Minneapolis, Minnesota, wonder about the pronunciation of the word rhetoric. Is the stress on the first syllable or the second? This is part of a complete episode.
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