Being a 403(b) advisor is both rewarding and challenging.
Helping a teacher prepare for retirement is gratifying, but many other aspects of the work are a struggle. Battling client apathy toward retirement planning, deciphering the complexities of retirement plans, and dispelling client skepticism can make it harder to reap the rewards of your efforts. 
The struggle is real!
But there are ways to address those challenges, and technology can be a powerful tool in meeting and surmounting them. Technology has an ever-expanding role in benefits administration and in serving clients and plan participants, and can be an aid to service providers in a variety of ways.
RetireReady Solutions, a firm that seeks to help advisors educate individuals about retirement planning, makes one such tool available.
The Retirement Analysis Kit (TRAK) handles the complexities and provides opportunities for interactive conversations and takeaways in order to educate clients, help them think clearly about retirement options, and answer their most pressing questions.
TRAK offers more than 700 built-in pension plans. The illustrations it provides include survivor options, cost-of-living adjustments (COLAs), cash balance options (e.g., partial lump sum option payments (PLOPs) and deferred retirement options (DROPs). TRAK also features integrated need analysis, which combines plan benefits, Social Security, 403(b) plans, and other outside assets. It facilitates discovery of outside assets as well as the presentation of new investment solutions. And its graphics and reports synthesize elements of retirement education in a simple and interactive way.
According to Ed Dressel, President of RetireReady Solutions, “Many advisors have increased their business three times over with TRAK.” He continues, “TRAK helps retirement plan professionals focus more on what matters most—helping clients retire well.”
Finding out More
More information about RetireReady Solutions is here.
A trial of TRAK is available here.
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