No but they will hold your hand through it and do the rebalancing for you. Granted, pretty expensive for hand holding service. I'd rather go with a cheaper balanced fund for the automatic rebalancing. Alas, no hand holding.But paying a manager won't change the fluctuations, and the angst will still be there.
+1.Steps to avoiding stress and improving investment results:
1) Determine the desired asset allocation
2) set up the portfolio
3) Don't check the balance or look at the statements.
4) in December, make a withdrawal for all of the next year's spending, put into a MM fund for monthly transfers to bank account. Rebalance all the investments back to the desired allocation from Step 1.
5) Repeat steps 3 and 4 until dead.
Don't consider daily, monthly, quarterly fluctuations to be gains or losses. All that matters is the price the asset brings on the date you sell it.
Personally, I'm planning on going all in with LifeStrategy Conservative Growth, Target Retirement Income or Wellesley Income when I retire, tax efficient placement be damned. Should take away much of the stress. Just need a once a year balance check for RMDs and schedule automatic withdrawals for the year.