Is it important for the advisors to speak to their clients about social security? Yes, they should. This is according to Dave Giertz, the president of the NFS distributors on wsj.com. In an interview with Veronica Dagher, a columnist at the WSJ wealth advisor, he stated that most advisors are not speaking to their clients about the social security.
A survey was done by the Nation Financials Retirement Institute targeting the consumers; the people who have retired. The report of the survey on Finra indicated that 4 out of 5 people said that they change their advisors at some point if they fail to talk to them about social security.
David Giertz stated that the advisors were avoiding the topic of social security for a number of reasons one of them being the complexity of the social security handbook. The book contains 2700 rules which make it hard for the advisors to comprehend.
First and foremost, the clients will seek the services of other advisors if they fail to talk to them about it. Secondly, they need to help their clients optimize their retirement benefits on whitepages.com. Lack of information may lead to the early withdrawal of the social security which will lead to significant loss of money.
About Dave Giertz
David Giertz is the president of the Nationwide Financial Distributors a position he has held since 2013. He joined the nationwide financial in 2004 as the president of the Financial institution’s distributors channel.
He holds a bachelor degree in business administration and management general from the Millikin University. He also attended the University of Miami School of business from 2002 to 2003 where he did his MBA. Source: https://www.nationwide.com/about-us/040114-nf-new-mobile-app.jsp