A lot of advisors are leaving wire houses in favor of independent firms that can provide the resources they need to support their wealth management practices. Trade Eagle offers both an all-inclusive, turnkey asset management program through our alliance with Envestnet as well as the flexibility of an a la carte service through our Trade Eagle Wrap platform.
Our Wrap platform is a fee-based account billing system that automates the process of calculating managed account fees by specified parameters set at the account level. Features of the Wrap billing system include:
- Automatic fee posting to client accounts
- Separation of manager, rep, and house fees
- Automatic or manual fee approval process
Within the Wrap platform, certain parameters need to be programmed and certain features are offered to correspondents. Included in the set-up of the program are:
Customizable Fee Billing Database
- Billing Frequency (monthly, quarterly, etc.....)
- Billing Type (advanced or arrears) Rebates ( will rebates be given on advanced billing)
- Margin (Include or not include debit balances in account values)
- Fee Approval (will fees be auto-billed by the system or will the correspondent do a review/release on the fees)
- Fee Minimums (will there be a fee minimum)
- Day Basis Calculation (will the calendar year be 360 days or 365 days)
- Customer Asset Value calculation (daily, weekly, monthly or at the end of the period)
- Breakpoints (will account values include a breakpoint schedule)
- Breakpoints per Asset Class (will different asset classes have different break points)
- Discretion or Non-Discretion (will accounts be coded globally through the program)
Creation of Rate Schedules
- Customized at the account level or Standardized pricing to be determined by the rep/correspondent firm
Model Portfolios (created after WRAP program is in place)
- Creation of Open-end mutual fund model per Correspondent’s parameters
- Access to No Load funds or Fee Based funds
- Re-balancing parameters (daily, monthly, etc....)
Adding Client Accounts to the Wrap program or Model Portfolio program
- Advisor completes the Add New Account form
For more information about the Trade Eagle Wrap platform, email tradeeagle@ridgewayconger.com