Defined contribution plan participants are notoriously bad about changing their 401(k) allocations, but retirement advisors and wealth management companies are nonetheless preparing their plan sponsor-clients for an inevitable rise in interest rates.
Fixed-income investors may find this annoying, of course, because they embraced the long-term bond market after repeatedly hearing assurances from the Federal Reserve that it planned to hold rates down to record lows, which drove up bond prices and yields.
But that was then, and this is now.
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