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Litigation Targets Managed Account Services
Multnomah Group 
June 6, 2024 "The plaintiffs will argue that defaulters are less engaged participants in their investments and will not provide additional data points needed to customize their portfolio. Without the additional data points, a managed account is essentially a target date fund ... As a result, the investment returns from the higher-cost managed account are no different from low-cost target date funds and, therefore, inappropriate to be used as the default option." [Hanigan v. Bechtel Global Corp., No. 24-0875 (E.D. Va. complaint filed May 24, 2024)] MORE >> |
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