Paychex Launches Sales Force to Boost Engagement with Financial Advisors and Plan Sponsors

ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc., one of the nation’s leading providers of 401(k) recordkeeping services for America’s businesses, today announced the launch of a new sales force solely dedicated to building relationships with financial advisors and plan sponsors.

Building on more than 40 years of successful working relationships with the business community, Paychex will help financial advisors create client opportunities to build their retirement plan businesses and also provide quality retirement plan expertise.

This new channel expansion is supported by 14 national external and internal wholesalers who will focus on cultivating relationships with financial advisors to help them gain assets. In addition, 20 regional retirement representatives will support clients with larger asset balances and employee counts.

Paychex also introduced a new enhanced service model to support the new advisor- centric environment. This includes a dedicated account manager to support financial advisors and their clients.

“Paychex is dedicated to helping financial advisors and plan sponsors alleviate their administrative burden through competitive offerings and sound expertise,” said Lonny Ostrander, vice president of sales for Paychex’s Human Resources Services division. “Through a wide selection of investment options, seamless payroll processing integration, user-friendly plan implementation, ongoing plan maintenance, and an investment monitoring service, Paychex looks forward to this new level of partnership with the financial advisor community.”

With more than 59,000 plans, Paychex is the recordkeeper for approximately one out of every ten 401(k) plans in the United States. This has contributed to Paychex being ranked as the largest 401(k) recordkeeper by number of plans in America for the second year in a row, according to a recent national survey from Plansponsor. Paychex is also the preferred payroll and retirement services provider for the American Institute of Certified Public Accountants (AICPA) Trusted Business Advisor Program.

Financial Advisor Portal Resources

In conjunction with the launch of its new sales force, Paychex is also promoting a host of online resources developed specifically for financial advisors and plan sponsors, and available on its Financial Advisor Portal, www.paychex.com/advisors. On the web portal, clients will have access to value-added content geared towards helping clients build their retirement plan business and manage human resource services, including articles, white papers, web seminars, and local CFP seminars.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com.

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Paychex, Inc.
Lisa Fleming, 585-387-6402
Public Relations Program Manager
lfleming@paychex.com
or
Eric Mower + Associates
Tom Brede, 585-389-1870
Counselor, Public Relations & Public Affairs
tbrede@mower.com

Source: Paychex, Inc.

Released September 18, 2012