The other 11% do not want to admit that a professionally managed portfolio is really what they want. Many believe they can substitute stock trading for a disciplined savings strategy. This strategy is ok for spare funds but is imprudent for a retirement plan.

Eighty-nine percent of the 2,600 401(k) investors surveyed would like help with asset allocation, 84% want solutions for calculating and creating retirement income, and 79% would like an annual financialcheckup to set and measure their progress. Less than half, 48%, feel that they are in consult of their retirement plan investments.“Most Americans are busy with their jobs, their families and their personal pursuits, and say that they don’t have the time or interest to become experts in retirement planning,” said Lynne Ford, CEO of ING Individual Retirement. “The results from our study were clear: Americans want a roadmap to help them navigate to and through retirement.”

Ford added: “As a whole, consumers highly value choice, yet too much can be overwhelming. Consumers also value the control to make their own retirement-planning decisions but want detailed instructions on how to accomplish their financial objectives.”

There is a clear advantage to offering a negative election to professionally managed accounts rather than a positive election.

Please comment or call to discuss how this would affect you and your employees.