A fixture assembly for holding printed circuit boards (PCBAs) during processing such as wave soldering. The fixture assembly consists of multiple plates which are assembled to define protective cavities and recesses for masking components such as surface mounted devices and define apertures so that pass-through leads are exposed at the bottom or secondary side of the bottom plate. An optional weighting member may be used to firmly secure the PCBA during processing. The multi-plate structure is cost effective reducing milling and machining operations normally attendant to the fabrication of a fixture assembly. In another embodiment, a stencil is provided with cut-outs corresponding to protected area on the PCBA. A soluble masking material is applied to the stencil and board prior to wave soldering. The masking material is subsequently rinsed away.