In a nutshell, if you don't want to drill down too deeply into this, i would simply make sure their fees are less than about 0.4% .
Fees a little higher may be worth it to you, but i would really stay clear of (avoid) fees higher than about 0.8 %.
For actively managed funds or annuities, it is common to see fees in excess of 1.0%. That's not good.
Best of luck.
And also consider that the more money you are talking about, the more this is going to matter. So while it might be okay to run with something like this for the first couple of years of your investing career, just for the convenience, you would probably want to get into something lower fee wise as your savings amass.
So, hey, if it's what it takes to get you started, go for it. Then fine-tune your strategy in subsequent years.