A Message from the President and Head of
Wells Fargo Advisors

Wells Fargo Advisors is committed to helping you succeed financially and to providing clear, direct communication about how we do business, the services we offer, the regulatory rules under which we operate, and what clients should expect from us.

You may have heard that the United States Department of Labor (the “DOL”) issued a rule with respect to the standard of care financial services firms must provide when making recommendations to retirement investors, including those who have IRAs. Generally referred to as the DOL Fiduciary Rule, it requires, among other things, that firms act in the best interest of clients when providing investment advice.

Wells Fargo Advisors remains committed to placing the interests of all our clients first — not just retail retirement clients. We are proud of the investment advice, services, and products we provide when advising clients on both their retirement and taxable investment accounts. We acknowledge and appreciate that you rely on us for advice that will help you achieve your retirement and other life goals. This is a responsibility we take seriously.

We care about you as an individual. This is why our Financial Advisors are thoughtful about listening carefully to understand your unique needs, and about offering personalized recommendations on how best to save and invest for the future. Finally, understanding that you want choice, our Financial Advisors offer different ways for you to invest that align with your individual goals and objectives.

Some investment firms have announced they will limit client choice in anticipation of the complexities they face in order to comply with the DOL rule. At Wells Fargo Advisors, we believe you deserve choice. We remain steadfast in our pledge to continue to offer investment advice through traditional, commission-based retirement accounts as well as fee-based advisory retirement solutions.

Your Financial Advisor stands ready to answer your questions about the DOL rule and welcomes any opportunity to talk with you about other matters.

As always, we thank you for the privilege of serving your investment needs.

Sincerely,

signature David Kowach

David Kowach
President and Head of Wells Fargo Advisors

CAR-0517-00987