"A new study of university employees participating in a 401(k)-like plan, finds that over a decade, those who got advice from commission-earning brokers made riskier investments -- and achieved significantly lower after-investment-expense returns -- than those directing their own investments. Moreover, both sets of workers earned less than they would have simply by plopping their money in a Fidelity Investments target date fund, although workers who managed their own accounts took on less investment risk (and owned less stock) than did the target funds."

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