Investment Instruments

An attorney representing himself before the panel hearing testimony on the Department of Labor's proposed fiduciary rule said providers are ready to walk away from smaller accounts rather than comply with the proposals Best Interest Contract Exemption.

The DOL-proposed fiduciary standards are taking heavy flak from financial companies and trade groups during testimony this week.

Labor Secretary Thomas Perez vowed to move forward with finalizing the Departments proposed conflict-of-interest rule, which would impose fiduciary standards on nearly all advisors to IRAs and 401(k) plans.

Several more Democrats have raised formal concerns over the DOL's fiduciary regulations potential for unintended consequences.

Wells Fargo will offer Financial Engines' suite of institutional retirement planning solutions to companies with 401(k) plans.

Auto-enrollment in retirement plans, the use of target-date funds, and improved 401(k) plan design are some of the trends service provider Ascensus reports seeing.