Survey says managed account assets to boom

Fifteen of the 20 largest defined contribution plan providers surveyed by NewRiver intend to offer a managed account option by the end of 2004. Assets in managed account programs will total $50 billion by the end of 2005, and more than $600 billion by 2010, NewRiver projected. All plan providers said participants in a managed account would be charged an asset-based fee, expected to vary from 20 to75 basis points.