I don't know about their "wrap" account but the way we do ours at my company is we offer funds from many different fund companies so we do not have that conflict of interest. Our fee is 1.15% and we are able to do some things that an average investor cannot do on thier own (or at least in a few cases, not do without paying a fee to other services like Morningstar's Premium services).For those that have the time, desire and expertise to do it on their own, they you can likely do as well or better but if you don't, then you might find a benefit in such a style of account. I know that specifically for our funds and each portfolio, that it must have beat the comparable index at least 62% of the time to be included in our wrap product as well as have a higher average rate of return and lower standard deviation. It may be difficult (I don't honestly know) to determine such on your own.In our wrap product, we have funds from Royce, Fidelity, Navellier, Heritage, Gabelli, Keeley, Dodge & Cox, Morgan Stanley, Marsico, and Merrill Lynch (to name a few).I would assume Fidelity's service is very similiar to ours. I do think that you might be better, if this is the account type you like, to be in one that has more diversification of fund families.
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