Kelley Eccles, a Financial Advisor with Leech Bridges, Inc. in Zion, Illinois uses the software to gain new clients. "The Retirement Savings Planner software is great. I used the retirement planning software on my first client and between the 72(t) analysis and the ability to give a client a disk with their individual plan, I will be rolling over and managing $940,000. The asset allocation model helped the client understand the reason behind the different investments that I have recommended." After using the software with several new clients, Kelley says "I'm 3 for 3 landing new accounts using the Retirement Savings Planner software" from Torrid Technologies.
Timothy Turner, inside counsel and financial planning expert for Torrid, noted, "Our Retirement Savings Planner 2004 software has completely separated itself from other retirement planning software products aimed at financial advisors. While other packages continue to get more complicated each year in an ongoing race to add more and more features, our software is laser focused on allowing advisors to create visual retirement plan pictures quickly and simply." According to Turner, "Our mission to âKeep it Simple' benefits financial advisors who have a limited amount of time to work with a potential client to convince them to use their services. There often just isn't time to get the client to fill out a long fact finder and then spend one or two hours inputting data into some of the other complex products available on the market."
Torrid created the software in 1995 and since then has continued to enhance the program without making it too complex. The 2004 edition adds the ability to add an unlimited number of "cash infusions" that might affect the client's retirement picture. This feature allows you to model life events like the downsizing your home at retirement, inheritances, retirement packages or severance, part-time jobs, real estate rental income, deferred compensation, and any other situation that would provide either a lump sum or series of incoming payments.
Torrid's PC-based Retirement Savings Planner 2004 is available for consumers as the "Personal Edition" and has been mentioned in Business Week, Barron's, and Smart Money. The "Professional Edition" is used by financial advisors, brokers, planners, benefits consultants, CPAs, attorneys, and other professionals working with clients on their retirement savings plans.