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Why clients should look beyond target-date funds Retirement savers should weigh other alternatives to target-date funds when building their 401(k) portfolio, writes an expert on The Wall Street Journal’s website. Designed for a specific retirement date with a "one-size-fits-all" approach to risk, a TDF is not meant for everybody, as personal circumstances vary among clients, the expert explains. 401(k) investors may be better off having a managed account, which is "an in-plan robo-advice solution that attempts to replicate adviser input using a rules-based approach," the expert writes. "With managed accounts, each person has a customized portfolio built using the investment options available in the plan. And the costs are typically far lower than those of a human adviser."

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