New Portfolio Service: Leave the Investing to Us

June 11, 2003 ( - Plan sponsors in defined contribution plans at MetLife now have available a new participant service to automatically rebalance the investor's portfolio annually.

According to a news release, MetLife Resources is offering the service through a partnership with asset allocation provider ProManage, Inc.   ProManage will assume fiduciary responsibility for the advice, the announcement said.

ProManage aims its service at participants who do not want to do their own investing, don’t have the time, or would rather have a professional do it for them. Armed with participant data provided by MetLife, ProManage reallocates the employee’s plan assets for them without their having to do anything. Only those participants in the ProManage PROgram pay for the service – and each ProManage participant can choose to opt out of the ProManage PROgram at any time, according to the announcement.