Wrap Fee Accounts
Client Acknowledgement Arbitration Provision and Signature Information
I don’t have a problem with the arbitration part of the doc. but this Wrap Fee Account Info is also included in this doc.
Also by signing below,you you acknowledge that you the understand and agree that if you invest in any investment advisory “Wrap accounht(s) offered by the company you will pay a separate advisory fee for each of those account(s) in addition to the Service fee that the assets held in any SPS Advantage and/or SPS Advisor accouts will be a factor in determining your Service fee provided these have been opened and funded prior to entering into the Agreement.
This was never discussed with me and I need to know if I can opt out of this part of the aggreement?
NEED YOUR HELP!
Permalink Submitted by Alan - IRA critic on Thu, 2013-07-18 20:40
Probably not, but you can ask them. With a wrap account you would expect to pay a flat fee, usually a % of the account balance that includes advice, commissions and perhaps other misc charges. But any mutual funds held or purchased in the wrap account will also have internal expenses just as if you held them outside a wrap account. The last portion appears to deal with assets you already have that now are to be transferred into the wrap account.
Permalink Submitted by Martha Edmonds on Mon, 2013-07-22 15:29
I’m going to suggest for him not to put all my transactions into to Wrap accounts because they can use of alot of your assets; instead of me haveing a plus, my portfolio will continue to go down with all these deductions. Thanks for your help.