Next Best Step

Wells Fargo & Company closed on the sale of our Institutional Retirement & Trust business to Principal Financial Group effective July 1, 2019.  There will be no immediate impacts to clients or plan participants and all plans and accounts will remain with Wells Fargo Institutional Retirement & Trust at this time. Customers will continue to access account information through this site and Wells Fargo Institutional Retirement & Trust relationship managers will continue to service all relationships. Clients will be contacted directly with additional details of the integration period.

Information when, where, and how participants want it

We will engage with your plan participants to encourage a next best step toward a successful retirement. To accomplish this we focus on four key beliefs:

Retirement success begins with good overall financial health

We are committed to making financial health and education part of the core conversation. After all, if participants can’t pay their monthly bills, they can’t save a significant amount for retirement. Wells Fargo & Company offers assistance to overcome key financial challenges including building an emergency fund, creating a budget, applying for a mortgage, and saving for college.

Each participant should have a plan for retirement

The plan can be a comprehensive written plan or by using our Wells Fargo Retirement Income Estimator, an online tool, to routinely track savings progress. To help those who are unsure of their goals and do not have a plan, we provide a starting target of 80% income replacement.

Interactions must be proactive, personal, and relevant

Interactions with participants are customized by age, life stage, personal attributes (demographics, investing preferences, behaviors), plan goals, and design. We use this personalized information to target individuals who, at key milestones, may need a little extra help – in the form of a positive, proactive nudge – to get on track.

The power of conversations provides the help participants need

When it comes to financial matters, people may want to have a conversation. For the diverse participant base that we serve, conversations can come in many forms— in-person workshops, one-on-one consultations, and digital communities. Rather than using technology to replace the face-to-face meeting, we use technology to enhance it.

Wells Fargo Institutional Retirement & Trust has both the resources and experience in participant education and communications to help participants take their next best step.