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
Following our conversation about the secret cup code of the old Harvey House restaurant chain, a listener in Minneapolis, Minnesota, shares a far more complicated and efficient restaurant code, the elaborate plate marking system used at Waffle House...
If you’re in a book club, how do you decide what books to read? There are lots of different ways, depending on your group’s goals. And is it ever wise to correct someone who mispronounces a word? Sometimes you have to decide if...