Not enough advisers are speaking to their clients about social security. David Giertz, president of Nationwide Financial conducted a survey including both people close to retirement and those far away from it. He found most advisers weren’t talking about social security.
But it is in the interest of both the adviser and the client for the adviser to talk about social security. 4 out of 5 people surveyed said that they would change advisers if their advisers weren’t talking about social security. David Giertz thinks that advisers avoid talking about social security because it’s so complex. The social security handbook has 2700 rules, which is a lot to comprehend and the advisers are probably not confident about knowing those rules.
But social security could be up to 40% of a retiree’s income, so it should be talked about. Also, people could lose up to $300,000 over 25 years if they take social security too early. So social security is very important according to soundcloud.com which is why advisers really need to talk to their clients about social security.
David Giertz is the president of Nationwide Financial, a position he has held for four years at https://twitter.com/davidgiertz. He is responsible for the distribution of retirement plans, wholesale management, life insurance, annuities, and mutual funds.
David Giertz has over 30 years of experience in the financial industry. He is one the board of trustees with Millikin University, which is where he got his bachelor’s degree, and he is an industry arbitrator with FINRA. He has an MBA with the University of Miami.
Learn more about David Giertz: https://www.linkedin.com/in/david-giertz-5aa76051