Does Wirehouse = Wrap Accts Only?

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Apr 26, 2007 2:47 pm

Is anyone else sick of how management at wirehouse firms make you do wrap business only? I like using wrap/sma accounts, but to say that is the perfect/only product is not kosher.


Any thoughts?

Apr 26, 2007 2:55 pm

Is is about ease of doing business, and choice, for you and your client. With regard to not having to push stuff, they call it independence.

Apr 26, 2007 6:37 pm

My firm doesn't push anything, work for a regional wirehouse.

Apr 26, 2007 8:58 pm

 if you decide to leave, you will have embedded capital gains on the mutual fund wrap accounts. my previous company, ms, did not let you transfer the funds in kind. the managed accounts were portable.


they push this to keep the accounts there if you leave. do what is right for the client and they will follow you. i work at a regional firm.

Apr 26, 2007 11:36 pm
Vin Diesel:

Is anyone else sick of how management at wirehouse firms make you do wrap business only? I like using wrap/sma accounts, but to say that is the perfect/only product is not kosher.


Any thoughts?



My thought is you're not being honest...