Unified Managed Household Account - UMHA


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.

BREAKING DOWN '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.

  1. Separate Account

    1. A privately managed investment account opened through a brokerage ...
  2. Chartered Financial Analyst - CFA

    A professional designation given by the CFA Institute (formerly ...
  3. Money Manager

    A business or bank responsible for managing the securities portfolio ...
  4. Certified Financial Planner - CFP

    The CFP legal team has provided its official definition, along ...
  5. Investment Advisor

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

    A qualified investment professional who helps individuals and ...
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. Home & Auto

    5 Mistakes That Make House Flipping A Flop

    If you're just looking to get rich quick, you could end up in the poorhouse.
  5. Entrepreneurship

    Top 10 Features Of a Profitable Rental Property

    Find out which factors you should weigh when searching for income-producing real estate.
  6. Bonds & Fixed Income

    Credit Default Swaps: An Introduction

    This derivative can help manage portfolio risk, but it isn't a simple vehicle.
  7. Professionals

    Alternatives: Will a Market Correction Lift Them?

    When were are surging, advisors and their wealthy clients asked why they should bother with lagging alternatives. Will that change with a correction?
  8. Investing Basics

    Water Investments: Will They Sink or Swim?

    Will these water-related investments sink or swim?
  9. Stock Analysis

    In Focus: Water Scarcity

    After a discussion, sponsored by CDP, we share the importance of water disclosure as it relates to businesses operating amid increasing water scarcity.
  10. Investing

    Undervalued Real Esate at Forestar Group

    Activists move to unlock the value of Forestar Group.
  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 >>
  3. Can hedge funds trade penny stocks?

    Hedge funds can trade penny stocks. In fact, hedge funds can trade in just about any type of security, including medium- ... Read Full Answer >>
  4. Can hedge funds outperform the market?

    Generating returns that exceed those provided by the broader market is the goal of nearly every investor. However, the methods ... Read Full Answer >>
  5. Where do penny stocks trade?

    Generally, penny stocks are traded through the use of the Over the Counter Bulletin Board (OTCBB) and through pink sheets. ... Read Full Answer >>
  6. Where can I buy penny stocks?

    Some penny stocks, those using the definition of trading for less than $5 per share, are traded on regular exchanges such ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  2. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  3. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
  4. Black Monday

    October 19, 1987, when the Dow Jones Industrial Average (DJIA) lost almost 22% in a single day. That event marked the beginning ...
  5. Monetary Policy

    Monetary policy is the actions of a central bank, currency board or other regulatory committee that determine the size and ...
  6. Indemnity

    Indemnity is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability ...
Trading Center