Advisors at Wells Fargo will have a more limited menu of investment choices available to sell or recommend to clients for their retirement accounts in advance of the Department of Labor's fiduciary rule taking effect on June 9.
Investment News reports that Wells Fargo Advisors is imposing new limits on mutual fund share classes and types of securities, beginning with mutual fund shares.
Only T-class shares will be approved for recommendation or sale to retirement account clients, although A- and C-class shares are still available for nonretirement accounts.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
