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BOSTON — While implementation of a concept that addresses the wealth management needs of an entire household may not be ready for prime time, of all the financial institutions, credit unions probably have the greatest chance of seeing it through.

This is according to a new report from Aite Group on unified managed accounts. An offshoot of its close cousin, separately managed accounts, UMAs allow a portfolio to be rounded out with other instrument types such as mutual funds, exchange-traded funds, asset-linked bonds, or even hedge funds. Some sponsors offer UMA products with minimum investment amounts as low as $250,000. UMAs currently make up about 3% of the overall SMA market.

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