A “Platform” or “Wrap” is an administration service which allows you to hold all your investments in one place. The advantage of this is that it is easy for you to see at a glance your total wealth, administration is usually less time-consuming because you are only dealing with one Administrator rather than a different administrator for each holding. Finally it is normally cheaper to switch between funds.
My adviser has suggested that I move all my investments onto a “Platform” and has also used the word “Wrap” – I am confused…
by Hannah | Dec 16, 2010 | Financial Clinic | 0 comments