TRAK Simplifies Fiduciary’s Work

Meet Fred Ostermeyer, RFC, AIF, President and CEO of Managed Resources, LLC in Post Falls, Idaho. Ostermeyer is passionate about financial education. Throughout his career he has worked to educate individuals, employers, other advisors and even legislators about financial matters. Today his clients vary in occupation and portfolio size, but they have one thing in common—their eagerness to be financially educated, which is very important to Ostermeyer.

TRAK Builds Ongoing Relationships

With expertly crafted graphics, TRAK helps Ostermeyer explain important financial principles and maintain communication with clients. “As a fiduciary, you have more responsibility to a client. You cannot go out, sell a product and walk away. A relationship is needed and that’s where TRAK plays an important role,” he explains. “TRAK is also valuable when clients have a change in their income or job because we can provide a one-page snapshot of how that change impacts their paycheck and retirement.”

TRAK Accurately Predicts Taxes

Ostermeyer first saw how amazingly accurate TRAK’s 1040 Analysis could be when he worked with a husband and wife who needed a tax projection midway through the year. “One worked for a hospital; the other was a school administrator. I gathered their paycheck information, supplemented it with some other data, and then used TRAK to project their year-end tax bill,” says Ostermeyer. “Later that year, the couple hired a tax professional to prepare their taxes. Amazingly, the couple came back and told me my projection was off by only one penny. So that validated the accuracy of TRAK for me.”

TRAK Provides Useful Comparisons

Since many of Ostermeyer’s clients are retiring and drawing funds, he uses TRAK’s 1040 analysis to compare what-if scenarios and develop efficient distribution strategies to reduce tax liability during retirement. “I can compare a client’s current situation to Option 1 or Option 2 and then flow that into the 1040, and from there I can still adjust things. It’s one of the few tools that has that ability,” he beams.

Why Fred Ostermeyer Recommends TRAK

“TRAK is a valuable time saver for advisors. It has made my life really simple,” says Ostermeyer. “TRAK has asset allocation, a social security module, a built-in questionnaire for determining risk level, and more. It’s definitely geared toward the financial planning community.”

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