All the major brokerage houses and many regional ones also offer separately managed accounts, which are referred to as wrap accounts, but you'll need to go through a broker to reach their outside stables of managers.

FORBES: Move over, mutual funds

Over the past four years he has used E-Trade's once-roaring stock to acquire ever more services, offering the nation's top-yielding certificates of deposit, an asset-management arm and a cut-rate version of the "wrap" accounts invented by old-line brokers.

FORBES: After the bubble

Over the past four years he has used E-Trade's once-roaring stock to acquire ever more services, offering the nation's top-yielding certificates of deposit, an asset management arm and a cut-rate version of the "wrap" accounts invented by old-line brokers.

FORBES: After the Bubble