Home Wrap Fee

Wrap Fee

In a Wrap Program, we generally receive from .125% to 1.00% in annual compensation, depending on the program sponsor, type of account
The dual registrant will now pay a $5 million penalty
Clients, however, did not have this information available to them because execution costs from trading away were not visible to clients on their account documents ...
BB&T Investment Services failed to disclose sufficient facts to enable clients to determine that the compensation arrangement between BB&T Investment Services and the Affiliated Adviser ...
A new settlement with an adviser first caught up in an OCIE sweep exam launched four years ago looking at wrap fee programs attests to ...
This matter arises from Lockwood’s failure to adopt and implement policies and procedures reasonably designed to prevent violations of the Advisers Act and the rules ...
One aftermath of the surge in OCIE exams is that the percentage of reviews referred to the SEC’s Enforcement Division has fallen to a low ...
A peer shares the OCIE document request letter received by the firm. This one concentrates on wrap fee programs. It also featured an example of ...
From 2012 through 2014 (the “Relevant Period”), Enviso Capital and two of its principals, Bowers and LaBerge, materially overstated the value of two private funds ...
Using your Form ADV brochure to alert wrap fee program clients that they may face higher trading costs if their adviser uses a broker other ...
Historically, Stifel did not track or monitor which sub-advisers were trading away from Stifel, how often those sub-advisers were trading away, or the specific costs ...
More evidence that OCIE’s wrap fee program sweep has produced results (IA Watch, Aug. 4, 2014). The dual-registrant Citigroup Global Markets settled charges of compliance ...
The SEC has confirmed that it has succeeded in bolstering its staffing in the investment adviser/investment company exam program by roughly 20%. The Commission had ...
A summer that’s included several actions against investment advisers that feature wrap fee programs produced two more cases that suggest you should monitor and report ...
The additional costs incurred as a result of the subadvisors trading away are embedded in the price of the security on the periodic account statements ...
Raymond James did not obtain information regarding the amount of commissions charged for these transactions or whether that amount was material. Instead, Raymond James received ...
If there’s one solid takeaway from the recent RiverFront enforcement action it’s to be as clear as you can in describing your step-out trades within ...
This brochure includes detailed language on step-out or trading away trades from a wrap fee sponsor following an SEC enforcement action.
The SEC has long trained its sights on wrap fee programs (IA Watch, Aug. 4, 2014). The latest example of this interest can be seen ...
The SEC has long trained its sights on wrap fee programs (IA Watch, Aug. 4, 2014). The latest example of its interest can be seen ...
rcw
rcw

Copyright PEI Media

Not for publication, email or dissemination