Whose Advice Is It?

You'll soon be able to get 401(k) guidance through your employer. But beware of any adviser who wears two hats

Three years into the bear market, one kind of help is finally on the way: easy access to personalized, professional advice on how to invest the assets in your workplace retirement account. Somewhat suddenly, companies are tripping over themselves to provide this valuable service, and you should take advantage of it--after you sort out the potential conflicts of interest and the costs.

Advice from employers isn't a brand-new idea. Many big companies, including General Motors and Wells Fargo, have made 401(k) advice available to employees on the Web by contracting with independent firms like Financial Engines and mPower. The sites use...

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