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Share Name | Share Symbol | Market | Type |
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Wells Fargo and Company | NYSE:WFC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 60.26 | 43 | 10:14:25 |
Wells Fargo Institutional Retirement and Trust today introduces Target My Retirement SM, a more personalized investment product for its 401(k) plan sponsors and participants. Target My Retirement takes its cue from the well-accepted target date approach to investment allocation, but the product’s innovation comes through the addition of more personal information about the investor, including an individual’s current financial and demographic information. Like a target date fund, Target My Retirement is cost-effective and can be used as a plan’s qualified default investment alternative (QDIA). Wells Fargo chose Morningstar Associates, a registered investment advisor and part of Morningstar’s Investment Management group, as the independent financial firm that will advise and construct the portfolios for those participants who choose or are defaulted into Target My Retirement in their 401(k) plan.
“Target My Retirement represents a positive evolution of a target-date investment in that it is more tailored to the individual,” said Joe Ready, head of Wells Fargo Institutional Retirement and Trust. “Not everybody in an age band is the same, and Target My Retirement allows participants to craft a more personalized approach within their 401(k) plan. Creating a plan for retirement is a journey over many years and with technology, we are at a place where we can do better than offer a one-size-fits-all approach to planning.”
Target My Retirement features include:
“We anticipate this will be a differentiator for participants who are looking to create their unique path for retirement savings,” Ready said. “Target My Retirement creates a customized portfolio that considers savings and risk attributes beyond the traditional retirement age approach. These additional attributes, combined with multi-manager portfolio construction, independent asset allocation expertise and the ability to customize your retirement year further personalizes the participant experience. We’re pleased to be able to offer more options to strengthen and support investing for retirement.”
About Wells Fargo Institutional Retirement and Trust
Wells Fargo Institutional Retirement and Trust is a national leader in providing total retirement management, investments and trust and custody solutions tailored to meet the needs of institutional clients. Wells Fargo ranks 8th in the number of plan participants and assets in the 2015 PLANSPONSOR Magazine Recordkeeping survey, and provides retirement plan services to 4 million participants representing $329.8 billion in retirement plan assets (as of 9/30/15).
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 12,800 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151201005467/en/
Wells Fargo & CompanyLeslie Ingberg, 612-667-0265 (Media)Leslie.Ingberg@wellsfargo.com@LeslieIngbergWF
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