Are UMAs the next SMAs? It certainly seems like it. Not too long ago, advisors were high on separately managed accounts as the ideal vehicle for high-net-worth customers. But the technology (and the marketing) has progressed, not to mention the needs of clients.

Now, unified managed accounts--which allow for multiple assets, each managed separately, in a single account--represent the next step forward. Celent has released a report projecting the UMA market hit $73 billion at the end of 2008 and will hit $327 billion by 2013, notes Wall Street & Technology. That's a compound annual growth rate of 35 percent. 

For more:
- here's an article from Wall Street & Technology