Paychex Launches AI Alerts to Give Advisors Real-Time Participant Insights
401(k) recordkeeper Paychex today introduced a what it calls a “pioneering” AI-powered new advisor plan management tool that leverages both payroll and plan level data to alert retirement plan advisors through real-time notifications within the Paychex Flex Advisor Console when plan participants reach key data milestones and have work or life events.
“Participant Event Notifications deliver critical data—at no additional charge—so advisors can make smarter, more timely recommendations that meet participants where they are on their financial journey.”
Scott Buffington, Paychex
The notifications enable proactive engagement to assist participants with their financial planning needs, which Paychex says will ultimately driving better retirement outcomes and uncover new investment opportunities.
“Paychex is deeply committed to helping Americans secure their financial futures,” said Scott Buffington, vice president and general manager of retirement at Paychex. “As the 401(k) recordkeeper for 124,000 plans, we feel a great deal of responsibility to provide plan sponsors and financial advisors with innovative tools that enable proactive, personalized participant support. Participant Event Notifications deliver critical data—at no additional charge—so advisors can make smarter, more timely recommendations that meet participants where they are on their financial journey.”
As financial advisors increasingly integrate retirement and wealth management strategies, Participant Event Notifications proactively make advisors aware any time there’s an opportunity to engage and support the participant. Advisors receive notifications when participants reach certain age or status thresholds, change retirement or employment status, or when a newly eligible employee has yet to enroll.
Paychex says these customizable insights enable advisors to proactively engage participants at pivotal moments, enhancing client relationships, improving retirement outcomes, and expanding advisors’ books of business.
The company has made several recent advancements and has further enhanced features that have been longtime standards for Paychex 401(k) plans, including:
• Modernized Paychex Flex Advisor Console: A newly refreshed interface allows financial advisors to see their entire book of business in a single dashboard.
• Enhanced Participant Portal: An updated user experience gives participants an easy-to-read retirement summary along with self-service features that enable them to enroll in, view, and manage their retirement plans in just a few clicks on any device.
• Integrated Client Web Experience: The redesigned interface is now seamlessly integrated with Paychex Flex to simplify administrative tasks, enhance functionality, and provide greater oversight while improving efficiency.
• Payroll Integrations Partnership: A new partnership integrates Paychex 401(k) plans with over 100 payroll providers, expanding access to retirement services for businesses that are not currently Paychex payroll clients.
• Industry-Leading Pooled Employer Plan: As the largest PEP provider in the industry by number of adopting employers, the Paychex PEP gives business owners a simple, cost-effective way to offer comprehensive retirement benefits to employees, while saving them time on administrative tasks and reducing fiduciary responsibilities.
• Automated Audit Packages: Clients can receive a single report that pulls necessary data from multiple sources, saving them time and easing administrative burden.
• Best-in-Class Cyber Security and Fraud Detection: Paychex’s practices protect the privacy, safety, and security of information shared by clients and employees. This includes industry-leading security standards, rigorous internal controls, and world-class data centers that are monitored around the clock.
SEE ALSO:
• AI Tech to Spot Fiduciary Risks in Coming Years
• DC Plan Sponsors to Focus on Financial Wellness, Compliance and Cutting Costs in 2026
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
