The situation improved markedly in 2009. Fidelity Investments reports that participants in the millions of
401(k) accounts it administers enjoyed a 28% pop in 2009, a rate that beats the S&P 500 by 2%. (On the downside, the positive performance of 2009 simply put balances back at 2007 levels.)
Or Do It for Them?
One way to overcome the legal questions surrounding advice, and employees' apparent indifference toward such help, is to go a step further and offer managed-account services. A number of firms, including ProManage, Financial Engines, and GuidedChoice, will manage 401(k) accounts for fees far below those that wealth-management firms charge high-net-worth individuals.