Answer:
they allow low investments, they are managed by professionals, and they are fairly simple one size fits all plans
Step-by-step explanation:
Target date funds can be defined as tailored investments, since the retirement plans works with a specific date set. So the investment company knows that they have a certain time to make the assets' value grow. They are very "simple" plans, since the plans should automatically rebalance themselves as the age of the customer increases.