401(k) Participants Turn to Pros For Help Managing Their Money
You’re a computer engineer, or a nurse, or a graphic designer. Just keeping current in your own specialty is an effort. So what happens to your 401(k) retirement plan while you’re off doing what you do?
Does it just languish, forgotten, in some dusty corner of your mind? Are you, among millions of others, crossing your fingers and hoping your portfolio will provide?
Thanks to changes in the industry, investors now can get more help managing their 401(k) accounts. In the past, to prevent conflicts of interest, defined contribution plan providers could make only general asset class recommendations. But regulations now allow financial service companies to hire independent, third-party financial advisers like Ibbotson Associates to manage individual investors’ 401(k) accounts.
Those who choose professional help will find that the money in their portfolio will be allocated appropriately to funds in their existing plan, rebalanced regularly and adjusted over time to meet changing life circumstances. And these programs are catching on.
Ibbotson is the independent...
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