TRAK Helps Clients Bridge that ‘Leap of Faith’

Meet Bruce Smith, founder and president of CALPRO Network Financial Advisor Bruce SmithServices in San Diego, California. Smith’s clients include school districts, corporations and nonprofits, as well as employees.  He especially enjoys helping employers provide high-quality retirement plan solutions while reducing administrative burdens and improving compliance. Smith and his representatives have used TRAK for over ten years and believe that TRAK separates and elevates them as retirement experts.

TRAK Helps Answer Burning Questions

Smith’s clients often ask, “Am I going to be okay in retirement?” To help clients understand the state of their retirement accounts, he uses TRAK’s Gap Analysis. “The visual graphs in TRAK show clients whether we are on target or short of the target,” he explains, “and I can create a plan in 15-30 minutes.”

Once Smith has established the plan, he invites clients back for an annual update. This meeting often leads to new opportunities. “Updating the plan encourages my married couples to get their spouse involved,” says Smith. “Then I can tie their spouse’s plan into the program and that produces another client.”

TRAK Creates Peace of Mind

Smith often works with clients who are just getting started and are on a tight budget. It’s a big deal for these clients to not have their take-home pay radically altered. “Many clients struggle with that ‘leap of faith’ when making decisions about contributions,” he says. “They need to understand the impact on their take-home pay.”

With TRAK’s Paycheck Analysis, he is able to show how his recommended contributions will affect the client’s paycheck. “I put into the software the contributions. The state and federal taxes, including withholdings, are calculated and clients can see, on the screen, exactly what their paycheck will look like after our plan is in place,” explains Smith. “TRAK comes within pennies of what the client’s actual paycheck will look like.”

TRAK Vividly Illustrates Compounding Interest

For younger clients who need to get started, Smith uses TRAK’s Interest Calculator to illustrate the potential future value of a retirement account. “I like that TRAK lets me build a scenario of putting in $500 a month at 6% per year and then shows how much that investment could grow in 30, 40 and 50 years from now,” he explains. And for older clients who need to understand their options for distribution, TRAK illustrates how much clients can take out each month without running out of money.

Why Bruce Smith Recommends TRAK

According to Smith, “With TRAK, you become the go-to-person. It allows you to provide quality advice—and if you bring quality to the table, clients will never leave you.”

Discover a new way to engage clients and participants

Discover what many successful advisors already know, and see for yourself how TRAK can transform your conversations with clients and participants.
Free TrialPurchase