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What is a Sales Funnel? The definition of the sales funnel (also known as a revenue funnel or sales process) refers to the buying process that companies lead customers through when purchasing products. A sales funnel is divided into several steps, which differ depending on the particular sales model. One common sales process is divided into seven phases including:
Wrap Account. What is a 'Wrap Account'. A wrap account is used by a brokerage firm to manage an investor's portfolio for an annual fee, which is based on total assets under management (AUM). This fee covers all of the administrative, commission and management expenses for the account.