Happy Friday, PLANADVISER readers. We are proud to present below the 2016 PLANSPONSOR Retirement Plan Adviser of the Year finalists, divided this year into four categories according to team size: individual, small team, large team and mega team. Our judges have picked out a top flight of advisers that represent the best service to plan sponsors and their participants. We’ll have much more information in the coming days and weeks about our finalists—and eventual winners—so stay tuned.
The firm says it does not have additional information to share at this juncture beyond what has been noted in a 2017 year-end SEC filing; in that newly emerged document, Wells Fargo Advisors says it has begun an internal investigation into “whether there have been inappropriate referrals or recommendations” made by its advisors, including with respect to rollovers for 401(k) plan participants.
The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the rollout of the Department of Labor fiduciary rule.