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.
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