Advisors need to talk to their customers about social security, but unfortunately not enough of them do this. In an interview, with Veronica Dagher, Dave Giertz, President of Nationwide Financial discussed the necessity of informing clients about social security.
Why Do many Advisors Ignore Talking to their Clients about Social Security?
According to David Giertz, many advisors ignore talking to customers about the need for social security. This is according to a survey carried out on consumers and people who have retired and those who are ten years from retirement.
Dave says that this topic is essential and especially when considering customer retention. The survey on wsj.com showed that 4-5 people tend to change their advisors if they do not speak to them about social security. He also says that the social security topic is very complex and entails 2700 pages on Finra, a possible reason why many advisors ignore talking to their customers about it.
Why is it Important for Advisors to take an interest in talking about the Topic?
Clients who turn on social security too early can lose up to $300,000 over 25years. Talking to clients about social security helps them optimize their retirement income on whitepages.com.
About David Giertz
David Giertz is the president of Nationwide Financial Distributors since March 2013. He also serves as the head vice president of Nationwide Financial Distribution and Sales for Nationwide Life Insurance Company at https://www.nationwide.com/about-us/040114-nf-new-mobile-app.jsp. Before joining Nationwide Financial, Dave was the sales Vice-President for FI/WH from 2009-2013 and the vice-president sales-NF Bank Channel from 2004-2009.
David has over 30years of experience, and within this period, he has acquired registration with FINRA as a Broker. This certification means that he is certified to work for larger firms which involve in buying and selling of securities.