The march of progress is sometimes thwarted by the pursuit of solutions that are elegant in principle but elusive in reality.
Alchemists tried to turn lead into gold. Physicists dream of cold fusion. Technologists envision an electronic device that will combine the best of the PC and TV. The world of managed accounts has its own ambitious goal: the unified managed household, or UMH, which would be a combination of multiple custodial accounts into a single account; which is not only an investor’s total investment portfolio, but all of the assets of the family, under the management of a single financial advisor.
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