Unified managed accounts are managed investment accounts that have developed out of separate account

Separately managed account

A separately managed account is an individual managed investment account offered typically by a brokerage firm through one of their brokers or financial consultants and managed by independent investment management firms and have varying fee structures...

s. Where a separate account holds the securities associated with a single investment manager or style managed for a client, a unified managed account typically holds multiple separate accounts, as well as other investment products such as mutual funds and exchange traded funds. Unified managed accounts also typically automate services such as rebalancing, cashflow management, and other services that are typically handled manually by financial advisors or institutions when using a separate account. A unified managed account removes the need to have more than one account and combines all of the asset

Asset

In financial accounting, assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset...

s into one account with a single registration.