Program offered by an investment adviser that wraps several services together for a fee based on the size of the client's account. Traditional wrap programs are based on the original model developed by E.F. Hutton in 1975, with minimum investments between $100,000 and $200,000, fees between 1% and 3% of the net assets in the account, and "wrapped" services that include portfolio management, asset allocation, custodial services, execution of transactions, and preparation of quarterly performance reports. In one variation (with smaller minimum investments), the adviser selects a mixture of mutual funds for the client. Wrap programs, unlike a registered investment companies, are tailored to the individual investor. Wrap fee programs that offer similar advise to a number of clients must be carefully structured to conform to the safe harbor provisions in Rule 3a-4 of the Investment Company Act of 1940.

This definition is in context to Securities. See more contextual defintions for Wrap Program (Wrap).