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.
