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Products July 18, 2007
New Tool Gives Advisers Direct Link to Plan Participants
Trust Builders, Inc. has launched a new software tool that gives advisers the ability to provide ongoing customized updates to plan participants.
Reported by Rebecca Moore
With the new TRAK Batch Gap Analysis Illustration tool, advisers are able to show participants the gap in their savings for retirement (if any) and the change in their contributions required to bridge the gap and achieve a financially secure retirement, according to a press release. The adviser can import all participants’ information into the software’s database in one simple batch transaction.
The gap analysis report can be distributed to plan participants via hard copy or e-mail, or the participant can securely access their report on the plan sponsor’s Intranet site.
Trust Builders pointed out in the press release that the tool can aid advisers in building future individual retirement account rollover business. Third party administrators (TPAs) and investment fiduciaries may also use the TRAK tool.
An example of a Batch Gap Analysis Illustration report for a fictional 401(k) plan participant may be viewed by clicking http://www.retireneeds.com/Reports/BatchGap_Sales_Sales_Sheet.pdf.