[citation needed] As of 2010[update], approximately £230 billion of assets are held on wrap services in the UK.
With the RDR (Retail Distribution Review ) being undertaken by the FSA in the UK, more investors are likely to move their investments onto Wrap Services by the end of 2012 if they have a financial adviser.
Wrap services or accounts usually enable investors, usually with the advice of a financial adviser, to select from an extensive range of funds and assets – including Unit Trusts, OEICs, Investment Trusts, equities, gilts, cash, structured products, VCTs, Hedge Funds, ETFs, ETCs and other investment products.
The service can then be used to allocate these assets to the most appropriate tax wrappers – including ISAs and pension plans.
Both investors and advisers can then view a holistic picture online of the complete Portfolio – all in one place, from anywhere in the world – 24/7.