I'm breaking into the fee based/wrap accounts industry after a nine year career as a commission based stockbroker. I have an idea of how I would like to run my new business model although I am still ignorant so excuse my mundane questions.
I would like to charge a flat fee for unlimited transactions within my clients account, e.g. clients sends me 100k s/he then receives unlimited trades...stocks, muni's, options, etc. I would charge 2% or $2,000 a year for this service.
I have no idea what other firms are charging their clients for wrap accounts/managed accounts. Does anyone have a grid of some popular firms fee schedule?
Thank you for reading and any info would be greatly appreciated.