Wells Fargo & Company has announced that it has reached anagreement with Financial Engines to offer the latter’s suite ofinstitutional retirement planning solutions to companies with401(k) plans for which Wells Fargo is recordkeeper.

Read: 10 firms 401(k) sponsors consider whenswitching record keepers

The release date is expected around the middle of 2016, at whichtime retirement plan sponsors on the WellsFargo recordkeeping platform will have the option to add the fullsuite of Financial Engines advisory services to their 401(k) plans.Those services include the following:

• professional account management, for participants who want tohand off or get help with managing their accounts

• personalized online savings and investment advice and retirementprojections for participants with a hands-on approach

• Income+, a retirement income solution that provides a stream ofincome in retirement

• income planning and Social Security claiming guidance throughFinancial Engine’s Social Security Planner

Under the agreement, Financial Engines will serve as the advisorand plan fiduciary for the advisory services.

All participants will have access to noncommissioned investmentadvisor representatives, as well as ongoing personalizedcommunication and education that assess their current retirementoutlook and make suggestions for improvement.

The Wells Fargo/Gallup Investor and Retirement Confidence Indexfor the first quarter of 2015 found that one out of three investorsin a 401(k) says he needs advice from others.

When asked which of five aspects of investing they most needadvice on, 32 percent of 401(k) investors want help knowing whichfunds to invest in, and 29 percent want help knowing whether toreallocate their investments according to changing conditions.