They have been around for a long time and while I. think they can be beneficial, managed 401(k) accounts could certainly use a rebrand.

A recent PlanAdviser article asked if there should be a rebrand for this service and I think it should. I don’t think the name for it, truly shows what it is, and doesn’t fully engage participants who should consider using such a service. There is such a large group of participants who could use the help, and I think there is a disconnect for them, as to why getting investment expertise at a low fee, is a good thing.