My name has the perfect number of characters.
It’s interesting that Wells Fargo and Bank of America do not rip off their employees with high fees in their 401k plans, and, in fact, Bank of America offers Vanguard institutional index funds. However, if you are unlucky enough to work for a company where the 401k is administered by Wells Fargo or Bank of America/Merrill Lynch, then they need to gouge you and make profit for their investors and likely give you many “great” choices of actively managed funds with high expense ratios in the 1-2% range. There’s a fiduciary somewhere that’s solving this problem. He might be lost in the woods.