What advisor doesn’t want to make their work easier?
Enter Paychex’s Advisor Console, which is designed as a “service enabler,” providing tools that allow the advisor to more efficiently service clients, according to Ken Burtnick, the company’s senior manager of product management.
Advisors may think the hardest part of the business is landing the client. However, sometimes the real work comes in building the advisor-client relationship and ensuring that needs are met -- and anticipated.
A retirement plan fiduciary is an important, yet complicated, role that many plan sponsors are increasingly seeking assistance with managing. Plan sponsors may find it helpful to hire an external fiduciary to free time and resources, add valuable expertise, and manage fiduciary risk.
The Department of Labor’s fiduciary rule will have a significant impact on the retirement marketplace. The regulation expands the definition of fiduciary investment advice under the Employee Retirement Income Security Act of 1974 (ERISA) and is intended to eliminate conflicts of interest and apply a “best interest” standard to investment advice related to retirement plans, IRAs, and rollovers.