Products April 16, 2018

Paychex Revamps Advisor Console

With a focus on accessibility and ease of use, Advisor Console’s new features and functionality allow financial professionals to be more efficient when serving their clients’ plans and investments.

Reported by

John Manganaro

Paychex, Inc., the national provider of 401(k) recordkeeping services, has launched several enhancements to its Advisor Console, the portal which financial professionals use to manage their book of business with Paychex.

The new Advisor Console features a holistic view of assets under management; participant information, including an overview of all levels of participation across the book of business; plan information, including 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; and the “(k)Index,” a comprehensive resource for investment research.

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According to the firm, “continual improvements” to the Advisor Console over the next year will provide easier access to client data that will help advice professionals deliver greater client value. The first phase of those enhancements, available now, “empowers professionals 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 “tools to better assess plan health and robust data analytics capabilities, providing the power for advisors to benchmark their plans against industry standards.”

More information is available at http://www.paychex.com/.