Each portion of clients’ total portfolio managed by a single asset manager is considered a “sleeve” on the UMA platform, and each sleeve fulfills some part of the asset allocation selection. Sleeves may be created for each asset class (whether traded, as with ETFs, or non-traded, as with real estate or alternative investments), individual investment manager, asset type (e.g., mutual funds or SMAs), model or investment strategy. Rep-as-Advisor Sleeves are specific sleeves put together by the investment advisors themselves to conduct a specific strategy of their own design.

View Glossary