The UMA combines the best thinking of Strategists with your allocation instructions to give the client multiple Strategies, possibly including your own, in a single account. IAA builds and trades the accounts based on the combined allocation.
Unified Managed Household
Combining the UMA and Household Overlay, IAA offers a Unified Managed Household where the client benefits from lower transactions fees, fewer trades, tax harvesting when appropriate, and asset location. Similar to the UMA, multiple strategies can be aggregated to a master portfolio.
IAA Tax Managed Overlay
The IAA Tax Managed Overlay authorizes IAA to use discretionary power to execute Tax Loss Harvesting and replace specific securities for a period with an asset class proxy or hold cash when we determine the value of harvesting outweighs the model's selection. Some IAA models and Strategist models are not appropriate for harvesting. We attempt to lock in losses to offset gains realized, or expected to be realized, and a surplus if the opportunity exists. We do not harvest simply to capture excessive losses as this is largely a tax deferral process - not tax avoidance.
IAA Household Overlay
Household Overlay services allows RIAs to determine asset location priority for their Advisor Directed portfolios and allocate funds accordingly. IAA portfolios and UMAH portfolio receive IAA's location specifications.