As financial services firms continue to launch managed account platforms, a handful of banking companies have begun offering unified managed accounts - what many believe is going to be the next generation of the hot product.

Wachovia Corp., Citigroup, KeyCorp's McDonald Financial and PNC Financial Services' PFPC Worldwide are among the growing number of banks offering unified separately managed accounts. Wachovia started its unified managed account platform, Diversified Managed Allocations, in December and by Aug. 31 had accumulated $500 million through it.

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