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A white paper from Cerulli Associates explores the increasing emphasis on personalization in retirement solutions, highlighting both the potential benefits of the trend and the challenges associated with it.
The paper, "The Benefits of Personalization in Defined Contribution Plans," which was produced with support from Edelman Financial Engines, notes that companies that hope to serve the needs of a diverse collection of plan participants need to turn to programs and features that fill in gaps that are left by target-date funds or other less personalized offerings. According to Cerulli, 52% of consultant-intermediated DC plans use managed account programs to give participants access to personalized investment advice. The value of these programs can go beyond investment performance, the white paper said.
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