Why Aren’t Advisers Talking to Their Clients About Social Security?

Financial advisors need to start talking to their clients about social security, says financial expert David Giertz. In a video interview with the Wall Street Journal, Giertz said that many advisors are not speaking to their clients who are retired or are within ten years of retiring. The problem with this, says David Giertz, is that surveys show that four out of five people would immediately switch to a new advisor if they knew that their current advisor would not talk to them about social security and that the new advisor would. Part of the reason for this, says David Giertz on moneytips.com, is that social security is a very complex topic with thousands of rules. Financial advisors who are not comfortable with their knowledge of all the rules may shirk talking about the subject.

However, says David, it’s important for retention rates. As mentioned, many people will simply leave their advisor if they see they are not talking about social security on SoundCloud.com. Besides, a big part of the financial planning for retirement MUST include social security, since income is a major part of it, and social security is a major part of the income of many seniors. In addition, social security must be planned out — starting too early can cause people to lose lots of money.

David Giertz is the President of Nationwide Financial Distributors. He was also the President of Nationwide Financial’s Financial Institution Distributors Channel and Wirehouse Distribution Channel. He studied at University of Miami School of Business and Millikin University.

He has an MBA in Business Administration and Management. He also has a Bachelor’s in Business Administration and Management. At Nationwide Financial, he is in charge of the wholesale of life insurance, retirement plans, annuities and more through financial institutions such as banks, regional firms, wirehouses and independent brokers at https://vimeo.com/davidgiertz.

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