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WEALTH MANAGEMENT GLOSSARY

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Current TermFree Receipt
Free Receipt
Items of value can generally be put in a customer's account in one of two ways: by purchasing the item with money from the account, or by receiving it "free" (perhaps as a contribution from other assets held by the owner of the account), without cost to the account. An item received without cost to the account is called a free receipt. It is free only in the sense that the account itself did not expend funds to purchase it. The owner of the account may have used other funds to pay for its movement to the account.

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