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Run the Payroll Fee Auditor →Blog · Payroll Management · Financial Services
Financial Services & Accounting Firms: Managed Payroll for Mid-Size Businesses (25-100 Employees) (2026)
Managed payroll for a mid-size financial services firm, 50 to 100 employees, is where FMLA and the ACA employer mandate have attached and the question becomes whether to hire the payroll clerk BLS prices at $58,260 or pay $3,375 a month at 75 employees. BEG: $45 per employee per month inside the payroll software you already use, live in 3 to 5 days.
What attached at 50 for a financial services firm
FMLA covers a financial services firm with 50 or more employees in 20 or more workweeks, with job-protected unpaid leave and benefits continued, so leave balances, intermittent hours and benefit deductions during leave all live in payroll. The ACA applicable large employer test counts full-time equivalents from payroll hours, and once it applies the 1094-C and 1095-C filings are built from the same data every year. For financial services firms with part-time financial advisors the FTE count is the number to watch, not the headcount.
Hire or outsource at 75 employees
BLS OEWS May 2025 puts the national median for payroll and timekeeping clerks at $58,260, roughly $75,738 loaded, for one person who also has to know deferred compensation structures, FINRA recordkeeping and performance fee payroll and who is a single point of failure on every pay date. Managed payroll at 75 employees is $3,375 a month, $40,500 a year, with the ACA and FMLA mechanics inside the price. The next federal lines, WARN notice and the EEO-1 report, wait at 100.
Broker-dealers must keep the records required for each associated person under SEC Rule 17a-3(a)(12) in an easily accessible place until at least three years after that person's employment or other association with the firm has ended.
The rules behind this page, with sources
General information, not legal advice. Every rule below was read on the agency page linked next to it.
- Broker-dealers must keep the records required for each associated person under SEC Rule 17a-3(a)(12) in an easily accessible place until at least three years after that person's employment or other association with the firm has ended. [SEC Rule 17a-4, 17 CFR 240.17a-4(e)(1)]
Read the full guide to managed payroll by company size, and the rest of the financial services firm payroll library.
Managed Payroll, Handled.
BEG manages payroll at $45 per employee per month, all-inclusive. Get an instant cost comparison for your business.
Frequently Asked Questions
What does managed payroll cost a financial services firm with 75 employees?
$3,375 a month at $45 per employee, all-inclusive, including the 1094-C and 1095-C build.
Is a mid-size financial services firm an applicable large employer?
If it averaged 50 or more full-time employees plus full-time equivalents in the prior year, yes, and the count comes from payroll hours.
What does the in-house alternative cost at this size?
$58,260 a year at the BLS OEWS May 2025 national median for a payroll and timekeeping clerk, before benefits, employer taxes and software.
What does managed payroll cost for a financial services firm?
$45 per employee per month, all-inclusive, inside the payroll software you already use, with no monthly minimum. Deferred compensation structures, FINRA recordkeeping and performance fee payroll are configured at setup, not billed as add-ons.
Related Resources
Anthony leads payroll solutions at Business Executive Group, a national managed payroll firm serving businesses across industries including Financial Services & Accounting Firms. BEG manages payroll at $45 PEPM, all-inclusive, with deep expertise in compliance, multi-state filing, and industry-specific payroll requirements. Get instant pricing at beghr.com.
Authoritative source: U.S. Department of Labor: Wage and Hour Division
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