With more than 62,000 plans, Paychex is the record-keeper for approximately one out of every 10 401(k) plans in the United States.
That makes it an undisputed market leader. Over the past year or so, however, Paychex has made a big push for an even larger share of the market, taking advantage of new regulations that opened the door for companies to enter the financial advisory services world.
The publicly traded Rochester, N.Y.-based payroll giant has begun partnering with advisors, a move that it says has, indeed, allowed it to capture even more of the medium-size plan market, accounts with $2 million to $10 million in assets.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.