It would certainly be nice if Employers could give investment advice on the 401k options in the company plan; but, they understand the legal responsibility that would come with that activity.
There is a legal concept called “Fiduciary Liability” which would apply to companies if they, in fact, gave employees “advice”. It was their desire to avoid this liability that prompted so many to abandon lifetime Pension Plans for their employees. The best they can do today is offer up the educational tools that come with the relationship they established with the vendor of your 401k platform.
This vendor, called the Plan Provider, gives your company these tools. You have no doubt see the Summary Plan Description including how the plan works, how you opt-in or opt-out, contribution elections investments available as well as product brochures. You may even have in-house educational seminars. However, it is almost unheard of that a Plan Provider will offer personalized, one-on-one, face-to-face investment advice.
The only Plan Provider that does offer individual advice to participants that I have heard about is Charles Schwab. They have established a relationship with an unaffiliated independent investment advisory firm called GuidedChoice Asset Management, Inc. Their advice however is strictly limited to the mutual funds offered on the main menu. If that plan also offers a self-directed brokerage account option, GuidedChoice Asset Management, Inc. will not offer advice on those investment options.
Be aware that with the Pension Protection Act of 2006, real one-on-one, face-to-face, personal investment advice may be available to you ~ paid for with pre-tax dollars directly from your own plan assets. Check with your human resources liaison and see if your plan has been amended to allow this activity. If not, know too that it may be worthwhile to pay for this service out of pocket ~ depending on the size of your account.
Finally, be aware that your regular broker-dealer may gently refuse to help you with your 401k options. Their compliance (legal) department will have likely instructed your broker NOT to give 401k Investment Advice. The issue is Fiduciary Liability. Look for an independent investment advisor ~ unattached to any broker-dealer.