Should I Use a Unified Managed Account?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 21 November 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel, & Kristina Ellis. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	You're listening to Ramsey everyday millionaires where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:13.9	Chris is in Duluth, Minnesota.
0:15.3	Hi Chris, welcome to the Ramsey show.
0:17.3	Hi Dave, thank you for taking my call and great show.
0:20.1	Thank you.
0:21.1	Thank you sir.
0:22.1	What can we help?
0:23.1	So my broker recently advised me to consider investing in what he called a unified managed
0:29.1	account at UMA, Delaware Research, but I wanted to get your expertise and opinion on this.
0:35.4	Okay, what is your net worth?
0:39.0	Probably just under two million.
0:42.9	How much have you got under management with a broker?
0:46.7	I've got about half about, well, it's all under his, about 500s in our 529 and then the
0:57.0	remainder about half is in our Roth and might KSP and the other half is in an open account.
1:03.7	So there's about 700 he's talking about hooding in that account.
1:07.7	Okay, all right.
1:09.8	Well, I mean, there's a lot of people using managed funds in the world today.
1:15.6	A lot of our smart investor pros use those and basically, you know, you're usually talking
1:20.7	about one and a half percent a year of the balance and then they're managing the funds
1:26.3	and you can do away with all other commissions and fees by doing that.
1:30.5	And it is not cheaper, but it just gives you some flexibility and some, you know, some
	...

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