You've spoken to this audience before—and you know it’s no fun. But participant education doesn't have to be boring or generic! With the right solution, advisors can engage plan participants, motivate them to increase deferrals, and discover outside assets to bring into the plan.
The key is to engage participants on a personal level with meaningful information that answers their most pressing question: "Can I retire?" By doing this, you’ll increase participant deferrals and raise your AUM.
Thanks to The Retirement Analysis Kit (TRAK), retirement readiness has never been easier or more effective. Whether you’re working with individual clients or 401(k) participant groups, TRAK puts this information that you—and they—need at your fingertips in simple reports filled with attractive illustrations.
Too many advisors send participants to a web portal, losing control of the conversation. With TRAK, you remain in control. TRAK allows you to give each participant with a simple, one-page Retirement Needs Analysis with answers to all their questions.
The easy–to-understand Retirement Needs Analysis is personalized, so participants see their current paycheck and projected retirement savings. They see not only suggested increases in deferrals, but also how those increases would affect their take-home pay and retirement income. This provides meaningful education and helps participants understand the decisions they’re facing.
TRAK also puts the focus on participant outcomes, helping advisors demonstrate to the plan sponsor how employees’ retirement readiness is improving every year.
Whether you are working in the 401(k), 403(b)/457, or federal market, TRAK has unique solutions that allow you to illustrate different scenarios with the click of a button. TRAK works in Windows or as a cloud-based platform to generate reader-friendly reports instantly.
Working for a Registered Investment Advisor or a broker-dealer? Find out how your organization can benefit from TRAK with our enterprise solutions.