Keith Young is a principal of Tampa Bay Financial Group. Tony Competelli, Paula Competelli and Keith created the firm to serve the 457 and 403(b) markets. Keith 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. Keith 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,” says Keith. “TRAK gives him credibility even at a young age.”
Keith 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,” explains Keith. “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.”
Many of Keith’s clients have been approached previously by advisors who either were inexperienced or simply wanted to make a quick buck. So Keith 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 Keith and his agents demonstrate the pros and cons of different strategies, and helps participants find the money they need to save for retirement.
“We recommend TRAK all the time, and we’ve told all our agents they have to use TRAK,” says Keith.
“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.’”