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dc.contributor.authorYao, Ruieng
dc.contributor.authorWu, Weipengeng
dc.contributor.authorMendenhall, Codyeng
dc.contributor.deptlabPersonal Financial Planningeng
dc.date.issued2020eng
dc.descriptionPostprint.eng
dc.description.abstractAs DC plans become more popular than DB plans, American workers are increasingly responsible for their retirement savings. Because retirement plan participants' portfolio allocation is constrained by the available funds in the plan, the construction of a plan's investment menu has become extremely important. No research has evaluated fund selection in retirement plans or compared plans involving an advisor with self-directed plans. To fill this research gap, this study employs cross-sectional, nationwide data that include 5,570 retirement plans with 100 or more participants in 2013, 2014 and 2015. Results show that in most cases, using advisors is not related to plan performance. Plan sponsors should require advisors to periodically evaluate the performance of plans under their management using objective measures.eng
dc.description.bibrefIncludes bibliographical references.eng
dc.format.extent36 pages : illustrationeng
dc.identifier10.1891/JFCP-18-00087eng
dc.identifier.citationOriginal: Yao, R., Wu, W., & Mendenhall, C. (2020). Use of Advisors and Retirement Plan Performance. Journal of Financial Counseling and Planning. http://dx.doi.org/10.1891/JFCP-18-0008eng
dc.identifier.urihttps://doi.org/10.1891/JFCP-18-00087eng
dc.identifier.urihttps://hdl.handle.net/10355/82622
dc.languageEnglisheng
dc.rightsOpenAccess.eng
dc.rights.licenseThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.eng
dc.subjectAuthor-supplied keywords: Advisor ; Fund Selection ; Mutual Fund ; Performance ; Retirement Plan ; Sharpe Ratioeng
dc.titleUse of advisors and retirement plan performanceeng
dc.typePostprinteng
dc.typeArticleeng


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