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Run the Payroll Fee Auditor →Blog · Payroll Management · Financial Services
Financial Services & Accounting Firms: New Hire Payroll Onboarding (2026)
New hire payroll onboarding at a financial services firm is the W-4, the Form I-9 within three business days, new hire reporting inside the state deadline, the pay code for the role, and the financial services firm checks this page cites before the first shift. BEG: $45 per employee per month inside the payroll software you already use, live in 3 to 5 days.
Checks specific to hiring in financial services firms
The federal onboarding sequence
Form W-4 (and the state equivalent) before the first check; Form I-9 section 1 on day one and section 2 within three business days; the new hire report to the state directory within its deadline, federal default 20 days and shorter in several states; the pay code, exemption status and direct deposit authorization on the employee record; and for financial advisors and CPAs the pay basis documented so deferred compensation structures is taxed and counted for overtime correctly from the first run.
Read the full guide to how to onboard a new employee in payroll, 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
How fast must a financial services firm report a new hire?
Within the state's deadline, 20 days under the federal default and as short as 7 days in some states. The report goes to the state new hire directory, and a rehire after 60 days is reported again.
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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