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10 Ways for Advisors to Use UMAs to Build a Stronger Business

1. Increase Company Profitability

At the end of the day, the goal of the Integrated UMA provider should be to help you produce greater sustainable profits for your firm. This is done through some combination of revenue enhancement and cost management. Revenue enhancement comes from improved investment products including asset allocation and manager/style selection, this in theory produces better investment performance allowing you to win new business and retain existing business. Cost management can come from elimination of redundant systems and rationalization of existing staff. We are not big advocates of the UMA as a FTE reduction strategy, rather, use it as a way to redeploy existing staff to more value-added activities, especially those that generate more revenue for the firm.