Unified Managed Account (UMA)

A single fee-based account that houses numerous investment products to fulfill the client’s asset allocation strategy within multiple separate account sleeves. Management between sleeves is determined by the overlay process to gain tax and trading efficiencies. This requires the wealth advisor to manage the client relationship on a platform optimized for UMAs. An UMA is usually conceived as having a single custodian, though some platforms do aggregate across multiple custodians.

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