"You certainly hear the stories about the older generation that never really wants to let go of the reins, " Nordquist said.

NPR: Future Heads Of Family Farms Dig Into Financials

In addition, investors will have a harder time getting information on CITs than on mutual funds, which are listed in newspapers and online, says Laurie Nordquist, executive vice president and director of Wells Fargo Institutional Retirement and Trust in Charlotte, N.

WSJ: Why 'Collective Trusts' Are Worth Considering

What's more, workers can invest in collective trusts only in ERISA-qualified plans, according to Ms. Nordquist. (ERISA stands for Employee Retirement Income Security Act.) That means CITs aren't available to retail individual retirement accounts, 403(b)s, government-sponsored 457(f) plans or any executive deferred-compensation non-qualified plan.

WSJ: Why 'Collective Trusts' Are Worth Considering