It makes a lot more sense to go with passive index funds over actively managed index funds, since 80% (from what I’ve read) can’t co distantly beat the market. Finally I can say I am proud of retail investors!
The vast majority of investors don't need an actively managed fund. It's just a way to squeeze some money from them to have a return that, most of the time, is lower than $SPY
Unfortunately, in my experience, most banks try to lure account holders into investing in some fund (issued/managed by the bank itself) with a >1% annual fee.