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Are You With The Right UMA?

By Adhesion Wealth, An AssetMark Company


Unified Managed Accounts (UMAs) come with a key list of advantages. But if you don’t have the right underlying technology or managed account firm, you can’t seek to achieve all of these advantages and you may end up with some tough challenges, and possibly disappointed and frustrated clients. While it may not be flashy to talk about true sleeve tax-lot accounting, it’s critical to delivering the client outcomes you want to create for your clients.

Have you found yourself experiencing some of these challenges and wondering if you are with the right UMA?

  • Inability to support fixed-income or dually managed (hybrid) models
  • Segregating cash amongst client cash, manager cash and cash pending withdrawals that are not partitioned and managed independently
  • Dividends are not posted back to the sleeve in which they originated
  • Manager Sleeve performance is inaccurate and varies significantly across clients
  • Difficulties changing managers in a UMA. Selling and repurchasing overlapping security
  • Inaccuracies around corporate actions
  • Meaningful trade execution variance for the same trade across multiple custodians
  • Inaccurate tax management results or limited tax management capabilities
  • Insufficient coverage of your asset managers
  • Challenges enrolling and transitioning accounts to the platform

Most of these issues are due to a platform’s inability to tag and partition tax lots. It takes time and experience to build a platform that handles and partitions a UMA properly. You cannot take shortcuts. Some people call it old school, at Adhesion Wealth, we call it experience.

C24-21005 | EXP 3-31-2026

By Adhesion Wealth, An AssetMark Company

For financial professional use only.

Important Information

This is for informational purposes only, is not a solicitation, and should not be considered investment, legal or tax advice. The information has been drawn from sources believed to be reliable, but its accuracy is not guaranteed and is subject to change.

Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results. UMAs are not suitable for all investors and should be evaluated for suitability by financial professionals prior to investing.

For more complete information about the various investment solutions available, including the investment objectives, risks, and fees, please refer to the Disclosure Brochure. Please read it carefully before investing. For a copy, please contact Adhesion Wealth Advisor Solutions (“Adhesion Wealth”).

Adhesion Wealth is an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Adhesion Wealth and third-party providers are separate and unaffiliated companies. Each party is responsible for their own content and services.

Adhesion Wealth is an affiliate of AssetMark, Inc., an investment adviser registered with the SEC.

©2024 Adhesion Wealth Advisor Solutions. All rights reserved. © 2024 Adhesion Wealth Advisor Solutions, Inc. All rights reserved.

C24-20942 | 02/2024 | EXP 2-28-2026