Paychex, Inc., has launched a new offering for fee-based financial advisors, called Paychex Advisor Select401(k).

Paychex, a provider of 401(k) recordkeeping services for American businesses, said its new offering brings features and services to businesses that have historically only been available to larger corporations, including open-architecture investment access to multiple fund families and an unparalleled level of fee transparency.

"By expanding our platform to actively support fee-based financial advisors, Paychex continues to lead the industry in how small business owners, their employees, and now their advisors evaluate and perceive their company's workplace retirement savings plans," said Paul Davidson, director of product management at Paychex, who is responsible for the company's retirement services product line.

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