Mark Twain Bancshares has trotted out a wrap account that executives believe will help its brokers compete with their nonbank rivals.

In December, the bank's broker-dealer began offering a wrap account that relies on outside money mangers to individually manage a customer's portfolio. The account carries a $250,000 investment minimum and customer fees ranges from 1.23% to 3.0%, depending on assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.