Managed accounts have grown in popularity but there is room for improvement in how they are organized and offered to retirement plan participants.
“Managed accounts have already evolved significantly to where we are today,” says David O’Meara, senior investment consultant with the New York office of Willis Towers Watson. “Accounts provided somewhat personalized investment advice, and could advise on savings rate and retirement rate, but over time, the robustness of the models and their ability to incorporate additional information has grown tremendously. [At the same time], the user experience and functionality of the tool itself has improved dramatically.”
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