Paychex Inc., a leading 401(k) record-keeping company, is launching several enhancements to its Advisor Console. The company says the portal allows financial advisors to organize and manage their book of business with an emphasis on efficiency and accessibility. 



The assets under management tool provides advisors with an updated calculation of their total book of business, and the participation information gives an overview of all participation levels within the book of business. Paychex has also developed features to improve client level detail within the advisor console. The plan information section of the console provides the total number of plans including employer match within the advisor’s client base. 



The (k)index tool is a resource for investment research designed to help advisors recommend appropriate investments for clients. The tool will now be available from the advisor home dashboard. 

Paychex will be rolling out additional improvements to the console over the next year that it says will give advisors greater access to client data and provide context for advisors evaluating the best plans for the individual needs of the client. Advisors will have access to information relevant to newly eligible employees, enrolled employees, pending enrollments and employees who are not yet enrolled in a retirement savings plan.


The next wave of improvements will be available by the end of 2018. Paychex says the changes will give advisors better access to health plans and data analytic information that let them compare their plans against industry standards.