Wrap Accounts
What is a Wrap Account?
Imagine if you could throw a big wrapper over all of your investments (and all the paperwork that goes with them), bundle them up, and hand it over to one provider, who then loads the details up on a system that you can access online for buying and selling, as well as getting the latest valuations. This is what a wrap provider can do for you.
Wrap accounts are an excellent way of managing your investments quickly and easily online. The problem is that you can only access a full wrap service through a professional wealth manager.
How can I open a Wrap Account?
We don’t think that it's right you can only have access to a wrap service if you have a financial adviser that you see regularly. That’s why we’ve set up the UK’s first ever completely unbiased, fee-for-service, Free Range Portfolio with the help of Transact - who is used by many of the leading professional wealth managers in the UK to manage millions of pounds worth of investments every day.
Click here for more information about how you can open your own wrap account today.
Click here for an Online Demo of Transact's wealth management service.
More about Wrap Accounts...
Wrap accounts are designed to hold all of your investments under one roof. People with various investments through different providers understandably find it difficult to manage their paperwork efficiently.
A wrap provider could:
- Simplify your administration
- Provide a facility for you to deal online
- Provide a facility for you to view your investments online
- Offer Unit Trusts, ETFs, Investment Trusts and all listed Shares and Gilts
- Generate a free capital gains tax report for you every year
- Maintain a full transaction listing for better quality information about your investments
The value and benefits of consolidating your investments are an important factor.
More importantly from a financial and investment planning point of view it allows you to monitor your investments easily, in one place, and therefore make better decisions regarding your investments as you can more easily view them as a whole portfolio.
Features and history of wrap accounts...
One of the major benefits of wrap accounts is not only the fact that all your investment plans can be consolidated on to one platform, but that your assets can then be invested into a wide choice of investments and from investment managers across the whole market. Because of this they are sometimes referred to in other countries as a 'hypermarket'.
Another major factor of their success is that the buying power they have amongst investment managers allows wrap accounts to negotiate large discounts on many funds. This ability to offer wholesale, or institutional, prices means investors can benefit from excellent fund discounts when they buy.
For this reason the popularity of wrap accounts has been developing at a fast pace amongst financial planners. These professionals invest their client's money using these platforms because they understand the benefits of choice and flexibility that wrap accounts provide.
They have not however broken out into mainstream popularity in the UK, purely because they are not available to the ordinary investing public. These platforms are only available to UK investors through a financial adviser.
However, as mentioned above, because we at Investor Profile do not think that is fair, we've made the Transact platform available to anyone that wishes to take advantage of this offer.
Although relatively new in the UK wrap platforms have been around for much longer in the USA and Australia and have become the accepted method of investment.
