Anne Tergesen

speaker

4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · This 401(k) Will Provide Specific Investment Advice to Fit Your Life · 5 Feb 2024 podcast

That's the kind of information they just can't tell from the information that's on file. matched

You have to provide that. matched

To the extent that you have other accounts, you know, a lot of people, especially as they get older, they've had prior jobs. matched

They have a lot of money maybe in an IRA, maybe a brokerage account. matched

And so in order for you to get the most value from a managed account, you have to be somewhat engaged and you have to be willing to give them some of that information. matched

It costs you, period. matched

There is a charge. matched

They're going to charge you. matched

It depends on the plan, but somewhere between, say, 20 and 40 basis points to manage your money. matched

The question is, is it worthwhile for you to pay them? matched

Are you really getting enough customization to make that fee worthwhile? matched

The idea is that you should be willing to provide them with as much information as you can. matched

And the alternative being just sticking with a regular target date fund. matched

Well, the fees on target date funds have really come down. matched

There's a bigger fee differential there. matched

In order to get the value from a managed account, you really need to be willing to put in at least some time and some effort in providing them with information so that they can truly look at you as a unique person. matched

So that also depends on who you talk to. matched

There's a study that I'm familiar with, but it's an old one from 2017 that at that point looked at historic returns on target date funds versus managed accounts to answer the question of, do you get extra value from the managed account? matched

And there was a finding there that matched

Yes, it's a very small difference. matched

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