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Financial Planning for State Retirement Plans

TRAK Serves Those Who Serve

Meet Terry O'Reilly, an investment advisor for Barlas & Chambers, LLC, in Tarpon Springs, Florida. Terry retired Terry O'Reilly - State Retirement Plan Advisorfrom law enforcement and pursued a second career as a financial advisor. He serves police officers within the Florida State Retirement System.

“After I retired from the sheriff’s office, my wife said I couldn’t just play golf for the rest of my life,” says Terry. “So I got into financial planning. That was five years ago.” Terry’s certifications include the Accredited Wealth Management Advisor from the College of Financial Planning.

TRAK Creates Trust
Terry often faces skepticism from his law enforcement clients, but he has learned to earn their trust. “Cops are not very trusting, so you need to show them something in black and white,” explains Terry. “They’re impressed when I give them a TRAK report, and it allows them to make an educated decision. They can trust the recommendations because everything is on the table.” Terry often uses TRAK’s Gap Analysis, which calculates various defined benefit pension plan options, and includes many cash balance options (DROP, PLOP, PLS, etc.).

TRAK Makes Planning Powerful
Terry also appreciates the tax planning features of TRAK. “Our office completes about 2,000 tax returns a year, so I can walk down the hall to get my clients’ tax planning done. TRAK’s 1040 Analysis helps me show clients multiple options for investing their refunds, such as using the funds to buy universal life insurance,” explains Terry.

TRAK’s 1040 Analysis is part of the Paycheck Calculator and it allows an advisor to set the federal refund value.

TRAK Helps Advisors “Farm”
Terry refers to himself as more of a farmer than a hunter. He focuses on cultivating each client relationship with careful attentiveness. He has been bound to the fiduciary standard from the start of his career as a financial advisor, always putting his clients’ interests above his own, and TRAK aligns with that approach. Terry’s philosophy is simple: “I’ll make you a client and build value. When the time comes, you’ll continue to seek my services because I didn’t just make a sale—I built a relationship.”

Why Terry Recommends TRAK
“TRAK is helping me specialize in a state retirement program. With TRAK, I can easily show my clients the value of their retirement benefits, including their 457 plan, and the impact of increased contributions on their payroll. It’s the perfect tool for building trust because it puts everything in writing for prospects and clients, giving them something tangible to take with them.”

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