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TRAK Generates Clients and Commissions

Corporate clients call Earl Avakian, CLU, CLTCS, CFBS, their “401(k) success consultant.” Earl has been excelling in the employee benefits business for 23 years. For much of that time, he sold group benefits, health insurance, group disability and life insurance. But a few years ago, Earl decided to focus more of his attention on retirement plans.

“Health insurance and renewals kept increasing, which made employers and employees unhappy, and that, in turn, made me unhappy,” explained Earl. “So I made a decision to expand my 401(k) advising business.”

TRAK Opens Doors

Earl learned about TRAK through a webinar two years ago. “TRAK was easier to learn than I expected,” said Earl. “And within two months, I secured over $25,000 in commissions.” Earl credits that early win to TRAK’s Batch Gap Analysis. After Earl received some key employee data from an HR contact, he used TRAK to create one-page retirement summaries for each of his client’s 100 employees.

Earl’s HR contact distributed those summaries and soon Earl had 12 individual appointments. During those appointments, four individuals asked Earl for a more comprehensive analysis, and that’s what ultimately generated his $25,000 commission (earned from a combination of annuities, mutual funds and rollovers). “If I had not used TRAK to proactively send out those summary reports, those participants never would have called me,” he said.

Ever since, Earl has faithfully used the Batch GAP Analysis as his “door opener.” According to Earl, “The beauty of the Batch GAP Analysis is that it opens the door to more conversations about old 401(k) plans, IRAs, spouses’ pension plans, and health insurance needs.”

TRAK Improves Advisor Efficiency

Many TRAK users like Earl find the software easier to use than they anticipate. And that translates into using the software frequently to illustrate various scenarios for clients. In one recent case, Earl was working with a business owner who was going through a divorce. “Her financial life is complex, with profit-sharing income and assets being divided up in the divorce settlement. In five minutes, I was able to update her report with new information and send it via email, and she was very impressed by my responsiveness. I look like a hero when I can update and email things to my client quickly.”

Why Earl Recommends TRAK

Earl recommends TRAK to advisors for many reasons. First, he likes the fact that TRAK helps his clients succeed, because it helps them understand the impact of making changes in their retirement savings. He also likes that TRAK helps him generate leads with plan participants. Finally, he notes that the software quickly pays for itself.

“TRAK is so easy to use, it helps me earn my commissions, and it offers a great value,” said Earl. “Everyone wins!”

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