3 Red Flags We See With 401(k) Participant Managed Accounts That Fiduciary Committees Shouldn’t Overlook
- Managed account performance is not benchmarked. As a result, we are concerned that there lacks competitive pressure to perform well.
- Participant managed accounts are not as customized as sellers would make it out to seem.
- Participant managed accounts fees are expensive and add up over time.
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There’s more to the story. Make sure you’re well-informed.
As a fiduciary, you play a crucial role in helping them in this endeavor by providing a plan that successfully prepares participants to retire. You are responsible for the services offered to participants in the plan and have a duty to do what is in their best interests. Your decisions matter significantly.