The book, written by consultant Ron Surz, attorney John Lohr, and ethicist Mark Mensack, says the funds are approved by the Employee Retirement Income Security Act, but that doesn’t mean advisors that use the products are completely protected from litigation that may arise if investors lose value in their accounts.
Estimated reading time: 0 minutes, 30 seconds
New Book Sounds Warning on Target Date Funds
The soon to be released “Fiduciary Handbook for Understanding and Selecting Target Date Funds” maintains that some of the products over allocate assets to equities and that, contrary to popular belief, do not protect fiduciaries against all types of legal risks. So reports Think Advisor.
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