Retirement plan participants are torn when it comes to asset allocation funds, according to a survey.
In Spectrem Group's survey of target-date and lifestyle mutual funds, released Wednesday by the Chicago firm, 39% of participants whose retirement plan offers such products said they allocate all their contributions to them, but the same percentage allocate none of their assets to those types of products.
And neither group is about to change its views, according to Spectrem's research.
Forty-eight percent of individuals that use only allocation funds prefer to allow a financial professional to make investment decisions on their behalf, while 49% of those who do not use those types of products believe that they can do a better job selecting funds on their own, Spectrem found.
