UMAs May Trump SMAs with Tax Benefits
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Wednesday, December 12, 2007

UMAs May Trump SMAs with Tax Benefits

In today's WSJ Fund Track column, Ian Salisbury explains why the new unified managed accounts may offer more tax benefits than separately managed accounts. Salisbury says in traditional SMAs, advisors requested tax-related trades only 20 percent of the time. Newer UMA portfolios seem to encourage advisors to make more tax-related trades, with benefits reaching about 33 percent of these accounts.

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