The race to innovate in the 401(k) world has a new entrant – and its aim is to no less than to overtake the most popular kid on the block, target-date funds.
TDFs, of course, have for years now been the runaway leader as a qualified default investment alternative in defined contribution plans, with $700 billion in DC assets. Some 40 percent of new enrollees are using them, according to the Investment Co. Institute.
While TDFs have been a game-changer, so, too, have technology-based managed accounts. Financial Engines' story is enough to prove that point: a couple of technologists' pipedream now serves about 30 percent of the country's Fortune 500 companies.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
