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Survey: Some 401(k) Members Want Professional Investment Management

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NU Online News Service, Sept. 3, 2003, 5:22 p.m. EDT – Only 19% of men say they would feel most confident if a professional took over management of their 401(k) plan assets, but 27% of women would like to have an advisor manage their plan assets, according to results of a survey conducted by Big Research, Worthington, Ohio.

The researchers who conducted the survey, which was sponsored by Nationwide Financial Services Inc., Columbus, Ohio, found that 32% of all 401(k) plan participants said they would use a financial advisor to make their 401(k) investment choices on their behalf if the option were available.

Nineteen percent of the participants said they would use Web-based advice services.


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