Many investment advisers provide investment advice to 401(k) plans. In these instances, the 401(k) Plan itself is the client. In other words, the adviser is hired by the employer to design or manage the Plan itself. In other cases, the adviser may simply be hired by the employer to assist the employees in selecting the funds from the available choices or to provide educational seminars to the employees. In each of these situations, however, the client is still the Plan itself.
