SAN FRANCISCO — Wells Fargo Securities will merge a retail brokerage wrap program with a mutual fund wrap program to create one fee-based product targeting customers with $50,000 to $300,000 to invest.

The new program, Wells Select, will be launched April 1. It will incorporate the existing brokerage wrap, Wells Select, and the major fund platform, Wells Advisor.

Investors will have 80 fund families to choose from, including funds from AIM, Fidelity Investments, Franklin Templeton Investments, MFS Investment Management, and Phoenix Investment Partners.

Customers will have to invest at least $100,000 in stocks and bonds and $10,000 in each mutual fund. The fee structure is based on the assets in the customer’s portfolio.

The existing securities wrap program requires a $100,000 investment and a 3% fee. The current fund wrap program requires a $25,000 investment and a 1.5% fee.

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