Late
afternoon is when many workers experience a slump in productivity, according to
a survey from Accountemps.
Nearly
one-quarter (24%) of respondents said 2:00 to 4:00 p.m. is their least
productive time of day, while 29% reported it is from 4:00 to 6:00 p.m. Fifteen
percent said they are least productive from noon to 2:00 p.m., 9% said from
10:00 a.m. to noon, and 14% reported they are least productive from 8:00 a.m.
to 10:00 a.m.
Asked
if they are more or less productive the week before a major holiday, 32% said
they become more productive, with 15% saying “much more” productive and 17%
saying “somewhat more” productive. Nearly half (47%) indicated there was no
difference in their productivity the week before a holiday.
Meanwhile,
nearly 22% reported they are either “somewhat” or “much” less productive before
a major holiday.
The survey was
developed by Accountemps and conducted by an independent research firm. It
includes responses from more than 1,000 U.S. workers 18 years or older and
employed in office environments.
Recent research from Cerulli Associates takes a critical look
at the use of managed accounts in the defined contribution (DC) market, now
estimated at $5.2 trillion. As the DC market matures, Cerulli notes that the
asset management industry continues to reassess and measure the efficacy of a
target-date product as the primary retirement investment solution for most
savers, according to “Retirement Markets 2015: Growth Opportunities in Maturing
Markets.”
At the same time, other investment vehicles, such as managed
accounts, come in for their share of assessment for their place in a retirement
plan. Managed accounts will likely do better in DC plans if they are presented
as a service instead of just another investment option, says Jessica Sclafani,
associate director at Cerulli. These accounts should complement target-date
funds (TDFs), she notes, rather than jockeying for top position.
Managed accounts, are now increasing in popularity and
becoming more sophisticated in their use of technology, even as retirement
plans find the due diligence in product selection somewhat challenging. The
Government Accountability Office (GAO) noted last year that a lack of guidance and inconsistent information about performance hamper plan sponsors in
selecting and overseeing managed account providers.
One key to using managed accounts correctly is positioning
their advantages. Customization is a route to supporting improved participant
outcomes, according to Sclafani. Yet the two most common qualified default
investment alternatives (QDIAs)—balanced funds and TDFs—do not address
financial planning and personalized strategies, she points out, while managed
accounts do.
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Managed accounts particularly suitable for some participants
As participants’ investable assets increase, they become much
more interested in planning and strategies tailored to their specific
situations, explaining why managed accounts attract so much interest in the DC
industry.
Managed accounts may not be right for all participants, the
report says. Participants who are nearing retirement, have amassed outside
assets and are looking for additional services may find them most useful. Cerulli
estimates there are approximately 19.5 million households ages 45 to 69 with
investable assets ranging from $100,000 to $2 million. These housesholds, which
represent $9.1 trillion in investable assets, are the target market for managed
account providers, according to Cerulli.
Managed account providers should partner with DC plan
sponsors to make sure a managed account’s distinct advantages—access to
personalized advice or the ability to incorporate assets outside the DC plan
for a more holistic financial planning experience—are conveyed to participants,
the report recommends.
To motivate participants to opt in to a managed account
service, plan sponsors and advisers need to help them understand what they are
paying for. This requires extra work from both plan sponsor and managed account
provider in educating employees.
“Retirement Markets 2015: Growth Opportunities
in Maturing Markets,” focuses on trends in the $21.5 trillion retirement
marketplace, including assets and growth projections in the different
retirement segments—private/public defined benefit plans, private/public
defined contribution plans, and the individual retirement account (IRA) market.
More information, including how to purchase, is on Cerulli’s website.