Payroll and benefits outsourcing provider Paychex has launched Paychex Advisor Select 401(k), an offering designed for fee-based financial advsors.
Paychex Advisor Select 401(k), a product developed by the recently acquired ePlan Services, is concession neutral in that Paychex does not retain any form of revenue share payments that are provided by mutual funds. The offering provides online account administration for both employer-plan sponsors and their employee-plan participants.
Online tools available to plan participants include: online enrollment, daily account snapshot, account profile management, interactive investment education, retirement calculators, deferral election and investment selection management.
Paychex Advisor Select 401(k) will be folded under the current suite of products offered by Paychex Retirement Services.
Bill Carlino writes for Accounting Today.