Financial services providers and advisors may be losing some managed account business because participants in defined-contribution plans do not have a particularly good understanding of how these investments actually work
The desire for additional advice and assistance among plan participants appears closely related to age (i.e., the experience the individual has in managing their own investments) and household income.
The Myth:
Affluent investors want to work with large, well established financial service firms. The Reality:
The notion that bigger is better does not necessarily apply to Affluent investors regarding the financial firms they work with.
