Paychex Adds LPL Financial's Employee Advice Solution to Further Serve Plan Participants
January 24, 2017 at 02:30 pm
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Paychex Inc. announced that it has expanded its service offering with LPL Financial. Paychex 401(k) record keeping clients who are supported by LPL advisors now have access to LPL's Employee Advice Solution (EAS) to be able to offer tailored financial advice and education to plan participants through an online system. With EAS, participants provide information on their current financial picture and can then engage with a financial advisor directly to receive personalized retirement advice or they can choose to manage their accounts on their own. They can also elect to receive advice all the way through retirement. With the addition of the Employee Advice Solution, Paychex now offers the full suite of tools and resources available within LPL's employee Worksite Financial Solutions. Worksite is a guidance-based, beginning-to-end retirement solution designed to help employees create confidence in their financial life, offering retirement guidance, education, and managed accounts. Enrollment in Worksite is included with LPL's Small Market Solution, which Paychex began offering to its customers in 2016. The Small Market Solution helps advisors and plan sponsors navigate fiduciary obligations while maximizing efficiency for small employers.
LPL Financial Holdings Inc. is an independent broker-dealer and an investment advisory firm company. The Company offers an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises (collectively, advisors) in the United States. Through its comprehensive platform, it offers integrated technology solutions; brokerage and advisory platforms; clearing, compliance, business and planning and advice services; consultative practice management programs and training, and in-house research. Through its custody and clearing platform, using both proprietary and third-party technology, the Company offers access to diversified financial products and services, enabling its advisors to offer personalized financial advice and brokerage services to retail investors. Its products include alternative investments, annuities, exchange-traded products, insurance-based products, mutual funds, and retirement plan products.