Simplified 403(b) Retirement Education

Chris Janeway, a PlanMember Advisor at the Santa Barbara Financial Center, shares his success at using TRAK retirement planning software to engage and educate clients.
Chris says, “When [clients] see the TRAK software and go through it with me they become far more engaged in the actual planning process…… [TRAK] creates a level of understanding in what I’m trying to accomplish for them and engagement in that plan.”

Transcript

WHAT DOES YOUR TYPICAL CLIENT LOOK LIKE?

I’d say my typical client is somebody mid-career. A lot of my business comes from employer sponsored retirement planning, so it’s mostly mid-career, mid to late career that really come to me for more in depth advice as they start to really plan for the next transition in their life.

HOW HAS TRAK IMPACTED YOUR BUSINESS?

It’s every day. It’s really the foundation of what I do as a planner. So when somebody comes to me, what I’m able to do is take a very, what I call abstract idea in retirement, where they really don’t know where to even begin and what their decisions may have as far as an effect and make that a very concrete idea. So instead of retirement off in a cloud somewhere we can say decisions today have a concrete effect, and walk through those different scenarios so they’re able to see exactly what they need to do along the way to get to their goal.

WHAT DIFFERENCE DOES TRAK MAKE FOR YOUR CLIENTS?

The biggest difference it makes is it’s an engagement within the plan. I think that when they see the TRAK software and go through it with me, they become far more engaged in the actual planning process. It builds a lot of trust with me as their advisor to be able to go back and review that and understand what we really do, rather than just maybe throw some sort of a product which, I know that’s out there. But I think it’s the biggest thing that TRAK can do for me, is it creates a level of understanding in what I am trying to accomplish for them- and engagement in that plan.

WHEN WORKING WITH CLIENTS HOW DO THEY RESPOND TO TRAK?

You know TRAK’S capabilities shouldn’t be necessarily confused with complication. So whatever the goal is, I try to plug everything, I’m not building out the questionnaire and plugging in data in front of a client. I have preloaded all that and really set it to the goal so that I can walk them through the visual of what the goal is or what the process may be. So as far as intimidation, I’ve really never seen that. If anything its “wow this is so simple I can’t believe I’ve never gone through this before”.