Landmark deal indicates progress in wrap development

The agreement between Standard Life and Friends Provident to share information between their respect...

The agreement between Standard Life and Friends Provident to share information between their respective wrap propositions shows the concept is moving to a new level. Wrap as a concept has always proved notoriously difficult to define, with every platform and supermarket under the sun claiming wrap-like tendencies in recent years. In essence, a genuine wrap should be able to show an individual's true net worth, comprising funds, life and pension assets as well as mortgages and other debt. The main issues with this grand concept are that existing wraps are unable to incorporate debt, and l...