Unified Managed Household Account - UMHA

AAA

DEFINITION of 'Unified Managed Household Account - UMHA'

A type of unified managed account that will allow not only for the investing of any form of security by an individual investor, but also will allow any member of the immediate family the same investing access under the same account. This type of account will allow for the ease of administration on behalf of the financial institution and greater transparency for the investing family.

INVESTOPEDIA EXPLAINS 'Unified Managed Household Account - UMHA'

The UMHA is currently a theoretical account as no unified managed accounts exist - as defined in its purest form. This type of account would allow a family, defined by a parenting couple and their children, to make all types of investments under one account, and most likely, one financial planner. However, there may be many kinks to work out in this account concept in regards to tax implications and account insurance.

RELATED TERMS
  1. Unified Managed Account - UMA

    A professionally managed private investment account that is rebalanced ...
  2. Separate Account

    1. A privately managed investment account opened through a brokerage ...
  3. Investment Advisor

    As defined by the Investment Advisors Act of 1940, any person ...
  4. Financial Planner

    A qualified investment professional who helps individuals and ...
  5. Certified Financial Planner - CFP

    The CFP legal team has provided its official definition, along ...
  6. Money Manager

    A business or bank responsible for managing the securities portfolio ...
RELATED FAQS
  1. Can I add my higher income spouse's name to my Roth IRA in order to raise our contribution ...

    IRS rules prevent you from maintaining joint Roth IRA accounts. However, you may accomplish your goal of contributing larger ... Read Full Answer >>
  2. Does marrying someone with bad credit affect my credit score?

    A credit rating is an assessment of an individual's creditworthiness. This evaluation is based on an individual's history ... Read Full Answer >>
Related Articles
  1. Investing Basics

    Picking Your First Broker

    If you're a rookie investor, your first big investment decision should be an informed one.
  2. Retirement

    Bankruptcy Protection For Your Accounts

    Will the plan assets you've worked hard for be safe if you experience a personal financial crisis?
  3. Mutual Funds & ETFs

    The Quest To Build A Unified Managed Account

    Find out why the convenient, customizable UMA should be the next big thing in managed money.
  4. Investing Basics

    What Is Cold Storage For Bitcoin And Why Does It Matter?

    With increasing incidents of hacking in the world of digital currency, cold storage offers a safe place for the cryptocurrency owners.
  5. Professionals

    Are Alternative Mutual Funds, ETFs Right for You?

    Alternative mutual fund and ETFs are gaining popularity but are they a good idea for your regular Joe investor?
  6. Investing

    Is the Best Plan for Pot Investing 'Wait-and-see?'

    Legalized marijuana is an emerging industry and those interested in investing in it should proceed with caution.
  7. Mutual Funds & ETFs

    Tired Of Mutual Funds? Try This Alternative

    Mirrored investments services are a beneficial alternative to traditional mutual funds. Discover how they work and how they can be used to your advantage.
  8. Home & Auto

    A Soaring Housing Market: College Apartments

    How to play the boom in upscale student housing.
  9. Investing Basics

    The Strange New World Of The Bitcoin Exchange Futures Market

    We explain the basics of the Bitcoin exchange and futures market.
  10. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.

You May Also Like

Hot Definitions
  1. Risk Averse

    A description of an investor who, when faced with two investments with a similar expected return (but different risks), will ...
  2. Fixed-Charge Coverage Ratio

    A ratio that indicates a firm's ability to satisfy fixed financing expenses, such as interest and leases. It is calculated ...
  3. Efficiency Ratio

    Ratios that are typically used to analyze how well a company uses its assets and liabilities internally. Efficiency Ratios ...
  4. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  5. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  6. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
Trading Center