Wells Fargo could fill the void left by rival wirehouses such as Morgan Stanley, Merrill Lynch and UBS.
Wells Fargo Advisors told brokers all new fund purchases within retirement accounts have to be executed in T share classes.
The wirehouse said it would significantly reduce experienced advisor recruiting, instead focusing on existing advisors and hiring tech-savvy staff.
The $82 billion quantitative manager claims to be one of the first to focus on implementing the theme of responsible investing across emerging markets.
The Department of Labor specified two parts of the rule - the definition of a fiduciary and compliance with the ‘impartial conduct standards’ - will become applicable on June 9.
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Robert Stansky has been added as a co-manager on the $2.2 billion Fidelity Advisor Stock Selector Mid Cap fund.
Mark Roemer, who is responsible for running the $77.8 million AllianzGI Small-Cap Blend fund, will depart from the firm on June 1.
Bank of America's US Trust bolsters offices in New York, Texas and Nevada.
ClariVest will manage the $1.5 billion USAA Small Cap Stock fund along with three other subadvisors.