Among prohibited fixed-income securities are issues by Wells Fargo Advisors’ parent company Wells Fargo & Co. (Photo: AP)

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.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.