Determine the role of the managed account within your overall portfolio style (growth, income, capital preservation) to ensure it complements, not replicates, existing holdings. Create a comprehensive view of all financial components, including managed accounts, employer plans, IRAs, and brokerage accounts, to harmonize decision-making across them. Align asset allocation across all accounts, treating the managed account as a part of a unified strategy. Minimize overlap by reviewing exposures across accounts, avoiding concentration risk and unnecessary fees. Use the managed account to cover gaps left by other accounts, like introducing international exposure or different sectors. Diversify at the risk-factor level across all investments, considering where holdings are most practical given goals and constraints. Coordinate tax management to avoid unintended realized gains, optimize timing of transactions, and utilize tax-loss harvesting without conflicts. Use the managed account as a rebalancing tool, with clear guidelines applied consistently. Coordinate cash flows to prevent unfavorable sales and maintain an effective cash strategy at the household level. Evaluate fees to avoid redundant services, manage concentrated positions to balance risk, and align investment horizons and goals across accounts. Ensure performance evaluation is consistent household-wide. Coordinate custody and reporting for a complete view, clarify decision-making responsibilities, and review the portfolio after significant changes. Keep an updated investment policy and conduct scenario testing to ensure the portfolio meets intended behaviors. Plan liquidity sequencing, track unintended risks, and align charitable intentions with the managed account\’s role. Document and monitor mandates to prevent strategy overlap.