More 401(k) retirement plan participants are turning their portfolio construction over to a professional, according to Vanguard’s annual 401(k) report.

In 2012, 36% of all participants in Vanguard retirement plans invested their assets in a professionally managed investment option, more than double that did so in 2007. About one in four (27%) were invested in a single target-date fund, 6% held a single traditional balanced fund, and 3% used a managed account advisory program. Vanguard estimates that 55% of all participants will be entirely invested in a professionally managed investment option by 2017.

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