Yes, Financial Advisors are a worthwhile expense for some 401(k) participants
On September 5, 2014
iSectors’ Chief Investment Officer and Chief Operating Officer,Chuck Self agrees with Donna Rosato, with regard to her August 25th article for Time.com, that financial advisors are a worthwhile expense for 401(k) participants with significant balances. However, he disagrees with the advice that a target date fund is an acceptable substitute for an advisor. “Target date funds do not take into account risk tolerance, income pattern over time or outside investments. Most participants should choose balanced funds or tactical strategies if they cannot afford a financial advisor,” he says.