Questions surround Fidelity's stance on its adviser-sold 401(k) platform

Fidelity Investments says it still isn't offering third-party target date funds on its adviser-sold 401(k) platform. Not all fund companies signing on to the platform understand that to be the case, however. Last Wednesday, after months of discussions, John Hancock Funds LLC received a contract from Fidelity stating that the company would start offering John Hancock's target date funds through Fidelity's adviser-sold 401(k) platform. “The contract is open-ended,” said Gene Huxhold, senior managing director at Hancock. “They could elect to not allow our target date funds on, but they didn't give any indication that they weren't going to include them.” But Fidelity executives said that, at this point, it is only contemplating offering third-party target date funds on its adviser-sold 401(k) platform. “But we have no plans to do so immediately,” said Michael Shamrell, a spokesman for the firm. He declined to comment on specific contracts with fund companies.