TRAK Helps Advisors Establish Credibility
Keith Young is a principal of Tampa Bay Financial Group. Tony Competelli, Paula Competelli and Young created the firm to serve the 457 and 403(b) markets. Young has dedicated 25 years to the life insurance and annuity industry. Today, Tampa Bay Financial Group recruits veteran agents and serves clients in 48 states.
Credibility is crucial for success, especially when providing retirement advice. Even veteran advisors need tools that quickly establish their credibility. Young requires advisors to use TRAK, since it facilitates a polished, professional presentation. “My son takes his computer to every appointment and he’s very successful,” Young says. “TRAK gives him credibility even at a young age.”
TRAK’s Gap Analysis Provides a Realistic View
Young is accustomed to providing a lot of client education. He regularly uses TRAK’s Income Gap Analysis to provide a realistic view of retirement savings. “It solves for the amount of income you want at retirement and gives people a wake-up call about savings,” he explains. “With TRAK, we always provide a range of returns (0%, 3%, 5% and 7%), since performance will vary over a 20-year period. We believe in keeping it realistic.”
TRAK Helps Educate Participants
Many of Young’s clients have been approached previously by advisors who either were inexperienced or simply wanted to make a quick buck. So he instills in his team the importance of providing advice and not asking clients how much they want to save or can afford to save. TRAK helps Young and his agents demonstrate the pros and cons of different strategies, and helps participants find the money they need to save for retirement.
Why Keith Young Recommends TRAK
“We recommend TRAK all the time, and we’ve told all our agents they have to use TRAK,” says Young.
“I like that TRAK gives us a compliant way to sell. We limit our agents to showing 3%, 5% and 7% rates of return, regardless of the market’s performance. I tell our agents, ‘You’ll be a hero by using TRAK and being conservative.’”