Wells Fargo & Company has announced that it has reached an agreement with Financial Engines to offer the latter’s suite of institutional retirement planning solutions to companies with 401(k) plans for which Wells Fargo is recordkeeper.

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

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

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

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

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

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

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

All participants will have access to noncommissioned investment advisor representatives, as well as ongoing personalized communication and education that assess their current retirement outlook and make suggestions for improvement.

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

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