Answer Your Clients’ Important Retirement Questions

Give Your Clients The Information They’re Looking For

Your client’s have specific retirement questions, you want to show them specific retirement strategies, shouldn’t you be using specific retirement software?

TRAK helps you work in your clients’ best interests by providing understandable and transparent answers and analysis for common retirement strategies including:

Retirement Needs Analysis

Sometimes clients need to see the “gap” before they are motivated to change. TRAK’s Gap Calculator provide a rapid, visual gap analysis of a client’s retirement needs taking into account their retirement plan, Social Security, and nearly any combination of additional assets and incomes.

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Paycheck Analysis

Clients find it hard to argue with their own data. So why not show them their own paycheck data? TRAK’s Paycheck Calculator is a suite of three separate calculators that help a client quickly and easily understand what is being said, find additional funding for retirement and see how account funds will accumulate until retirement and the income that they will provide.

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Plan Participant Solutions

Many advisors dread participant meetings, so do many participants. If you are starting to feel that dreadful feeling in the pit of your stomach, keep reading because you can engage and motivate plan participants like never before with TRAK’s Batch Processing solution. Now you can quickly give retirement plan participants a meaningful report illustrating their contributions and their impact on retirement and answering their most important question: “Am I ready for retirement?”.

TRAK’s Batch Processing solution is comprised of three reports, generated after importing census data and then a few clicks of the mouse.

  1. Batch Gap Analysis
  2. Contribution Analysis
  3. Participant Benchmark

The Batch Gap and Contribution Analysis reports are both focused on the participant. Rather than providing participants with less-than-helpful generic information or asking them to log onto the plan web portal after the meeting, these reports are advisor-driven allow the advisor to provide each participant a report with their personal information on it. Participant want to know “Am I ready for retirement?”, with TRAK’s Batch Processing you can be the advisor who answers that question.

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Roth Conversion

Clients who understand the financial concepts being communicated are much more likely to buy into the solutions their advisors present. TRAK’s Roth Conversion illustration tool allows you to quickly enter values and illustrate for clients how a Roth conversion impacts them today and in retirement. TRAK provides the results in a story board and in graphical and grid presentations.

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Split Annuity

Will we have enough when we retire? It’s the burning question most clients ask. The Multi-Tier Split Annuity calculator gives advisors the ability to illustrate a split annuity (between two and five tiers), quickly showing a client the income that can be produced from a lump sum value. Or, working backwards, it can calculate the cash balance needed to produce a required income.

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Stretch IRA

Leaving a legacy? TRAK’s Stretch IRA calculator allows you to quickly create Stretch IRA illustrations for clients and their children. Cash flow can be viewed graphically, annually by individual, by generation and summarily. The Stretch IRA calculator can cover any number of beneficiaries, illustrating cash flow from the client to the spouse (optional), children and grandchildren (optional). Quickly view the projected distributions for each individual and each generation, along with the remaining cash balance over a specified time period. Now you can show what a legacy really looks like.

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Tax-wise Retirement Distributions

In the financial planning arena, it’s been said for years that accumulation and distribution are different. But what does that mean? The Tax Wise Distribution Strategy definitively articulates the differences and provides clients the maximum after-tax income in retirement. And advisors using the strategy can clearly share with clients how their advice is easy to understand, solid and advantageous to their financial futures.

The Tax Wise Distribution Strategy identifies the ability to control taxable income as the key difference between the accumulation and distribution phases. During the accumulation phase, income is taxable and clients cannot choose to receive non-taxable income. In contrast, during distribution, clients can prioritize the distributions for each tax brackets. This key difference allows a client to better prioritize how distributions are taken in retirement.

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Social Security Timing

How you advise your clients to collect their Social Security matters. Clients and their spouses must consider not only their timing (at what age), but also their strategy for collecting Social Security. TRAK’s Strategic Social Security calculator evaluates both timing and strategies, helping clients determine when and how to collect their Social Security income.

The Strategic Social Security calculator is amazing, because with very simple input the calculator illustrates literally thousands of scenarios for a client and spouse. In most cases, the data input could not be easier. Simply enter the client’s date of birth, life expectancy and the primary insurance amount (PIA) at the full retirement age (FRA).

Social Security planning is not an isolated analysis, so planning to collect Social Security must be done in the context of other assets. This is easy to do with TRAK’s retirement needs calculator. Quickly view how a selected Social Security strategy integrates with the clients’ other retirement assets.

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Sequence of Returns

The Sequence of Returns analysis is built into TRAK’s Gap Analysis and Quick Gap calculators. After providing a quick illustration of a client’s retirement using compounded rates of return, the Sequence of Returns solution evaluates a client’s retirement savings using historical indexes (or a blend of indexes). The results display historical success or failure based on the selected index.

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Pension Maximization

TRAK includes two Pension Maximization (also known as Pension Income Maximization) calculators that easily illustrate for a client the option of replacing a lower income option with life insurance. Show the income a client will receive from the various options in a retirement pension plan, the projected cost over retirement of taking a lower income option, and how life insurance may provide the income needed for his or her spouse. All of this can be done with a few data entry points and the click of a mouse!

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Defined Benefit Programs

If your clients are teachers or are federal, state or municipal government employees, you know how cumbersome it can be to illustrate your client’s pension and survivor benefit options. TRAK has over 650 pensions plans built into the software allowing you to spend less time on cumbersome calculations and more time advising your clients.

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And Many More!

TRAK includes many other tools frequently used by advisors during retirement planning.

  • Asset Allocation Questionnaire: Includes the flexibility to add many custom asset allocation questionnaires.
  • RMD Calculator: Calculate the Required Minimum Distribution on an account and illustrate the effects of RMD on the account over time.
  • 72(t): Instantly calculate a penalty free distribution from a pre-tax account prior to age 59½. Mid-term interest rates can be updated over the internet with the click of a mouse button!
  • Maximum Allowable Contribution: TRAK allows you to quickly calculate the maximum annual contribution to 403(b) account (include the 402(g) catch up) and a 457 account. Includes calculate the 402(g) limit and double-up options.
  • Debt Analyzer: Illustrate the paying off high interest credit cards with a loan from a qualified plan.
  • College Funding: Calculate the savings needed to fund college accounts for client’s children.
  • Internal Rate of Return Calculator: Calculate the rate of retuned in an account that includes irregular distributions and/or deposits.

Enterprise Solutions

The Retirement Analysis Kit (TRAK) has been ranked as the most effective sales tool by a Fortune 100 company. It receives praise from individual advisors and sales management. One broker dealer tells us that “all of our best advisors use TRAK.” TRAK has been used by advisors for over 30 years and we routinely work with corporate clients to provide tailored, enterprise solutions.

This customization can include a specific set of calculators; change in the name of the software; provide integration with corporate software; and customize reports including a customized cover page, company or advisor branding, and customized disclaimer pages. Other TRAK features can be customized to meet your specific corporate needs.

Contact us to find out how we can help your organization!

 

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