Something that acts a little bit like a mutual fund B share is coming to the world of wrap programs for the first time.

BISYS Fund Services of Columbus, Ohio expects to introduce in January a new wrap fee program that guarantees broker/dealers will be able to receive a front-end fee for investors who open wrap accounts, said James McCoy, senior vice president of BISYS, in an interview last week. The guarantee of a fee up front will help broker/dealers recoup more quickly the sometimes significant expenses of setting up wrap programs, McCoy said.

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