Technological advances are increasingly leading financial advisers to use unified managed accounts to oversee all of their affluent clients' assets.

Advisers like unified managed accounts, or UMAs, because they offer operational and cost efficiencies. The turnkey asset management programs behind the accounts also enable functions such as manager research, portfolio construction and performance-reporting to be profitably outsourced to a technological platform that provides the open architecture to allocate assets across all classes and to regularly rebalance.

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