NEW YORK-Just as exchange-traded funds have taken the fund industry by storm over the past few years, industry executives expect unified managed accounts to be the next wildly popular investment choice due to their simplicity, automatic rebalancing and diversification.

"Everyone is talking about UMAs, and there is no question that the business is growing," said Lawrence Sinsimer, managing director of managed accounts at Eaton Vance Distributors of Boston, during Financial Research Associates' Unified Managed Accounts conference here last week.

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