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How clients can purge their 401(k) of toxic funds Clients stand to lose from some mutual funds within 401(k) plans; specifically those that charge hefty fees but underperform compared with other investment options, according to Forbes. To get rid of these funds, 401(k) participants should prompt their employers to replace these funds with ETFs or index funds, which have lower fees and can help them diversify their 401(k) portfolio. Clients may also request funds that have “institutional” expense ratios or managed accounts as well as independent fiduciary audit.  --Forbes

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