Paychex Adds New Features to Financial Advisor Console to Enhance User Experience
To enable financial advisors to provide the best client service possible, Paychex, Inc., one of the nation’s leading providers of 401(k) recordkeeping services, is launching several enhancements to its Advisor Console, the portal which financial advisors use to manage their book of business with Paychex. With a focus on accessibility and ease of use, Advisor Console’s new features and functionality allow financial advisors to be as efficient as possible when serving their clients’ plans and investments.
The Advisor Console features:
- AUM (Assets Under Management) – A snapshot of advisors’ total AUM for their books of business
- Participation Information – An overview of all levels of participation in the book of business
- Plan Information – A summary of the total number of plans and number of plans with match in the book of business, which includes greater access to client-level detail
- (k)Index – A comprehensive resource for investment research, now just one click away from advisors’ home dashboard
“Given the increasing need for retirement guidance and support to their clients, the advisor’s role has become more significant than ever before. At Paychex, we want to simplify the complex process of recordkeeping administration for advisors, plan sponsors, and participants,” said Ken Burtnick, senior product manager at Paychex. “We view ourselves as a ‘service enabler’ to the financial advisor community, giving them access to the resources they need to support our mutual clients and participants. Recognizing the critical role we play in helping advisors improve retirement coverage and outcomes for participants, we’re putting a substantial effort into providing our partners with the tools and reporting necessary to provide exceptional service to clients, and help participants be more prepared for retirement.”
Continual improvements to the Advisor Console over the next year will provide easier access to client data that will help advisors deliver greater client value. The first phase of those enhancements, available now, empowers advisors to more readily access information relevant to newly eligible employees, enrolled employees, pending enrollments, and employees who have not yet enrolled.
The next phase of enhancements, expected later in 2018, will focus on industry-leading tools to better assess plan health and robust data analytics capabilities, providing the power for advisors to benchmark their plans against industry standards.
“The ability to spend time building the connection with my client is what’s going to keep them, so having Paychex be part of the service process that allows me to get out from behind my computer and in front of my clients is invaluable,” said Steve Barrilleaux, owner of Safe Harbor Pension & Wealth in Roseville, California. “Paychex spends time and energy helping me figure out the best way to represent 401(k)s to the small business population.”
To see a demonstration of the latest Advisor Console functionality, visit Paychex at booth no. 315 at the NAPA 401(k) Summit, taking place April 15-17 at the Music City Center in Nashville, Tennessee, or visit www.paychex.com/partnerships/financial-advisors.
About Paychex Retirement Services
Paychex, Inc. is a leading provider of integrated human capital management solutions, including a full suite of retirement services designed to meet the needs of businesses of all sizes. In addition to extensive options for plan sponsors, Paychex Retirement Services also works with financial advisors to help grow retirement plan business through a dedicated team of wholesalers, sales representatives, and advisor support experts.
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of integrated human capital management solutions for payroll, HR, retirement, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by 45 years of industry expertise, Paychex serves approximately 605,000 payroll clients as of May 31, 2017, across more than 100 locations and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting www.paychex.com, and stay connected on Twitter and LinkedIn.