From IB's website - today's communique ************** Financial Advisor Separately Managed Account Features Available August 1, 2002 Trade multiple client accounts from a single Trader Workstation interface. Charge a wrap fee based on assets, per trade basis or fixed amount. No need for your client to sign onto a computer. Electronically complete an account application for your client, and mail the application to your client for paper signature. Same low commissions, and Universal Account features as our retail accounts. Paper statements for your client, with your name on the top of the statement.