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Wrap accounts consolidate various investments under one administrative umbrella. They are similar to master trusts except that they act as a custodial service with investments in assets made under an individual’s name. These investments may be in either managed funds or direct investments. The name ‘wrap’ is drawn from the fact that the administration wraps around a portfolio of investments.
Wrap accounts give investors the advantage of:
- Consolidated reporting: one statement for tax time
- Consolidated portfolio: access your investments online
- Diversification: the many choices investors have allow you to diversify across asset classes and reduce your risk that may not otherwise be possible for most investors
- Access wholesale funds: wrap accounts can pool investors money to allow you to access wholesale funds not usually accessible to retail investors
- Tax deductibility: some platforms’ administration fees may be tax deductible
- Beneficial ownership of your investments
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| Wrap Accounts | Access wholesale managed funds without needing to meet the high minimum investment amounts. more info
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| Personal Choice eWRAP | Finally a wrap account accessible without % based adviser service fees. more info
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