David Giertz Explains Why Financial Advisors Need To Talk About Social Security With Clients

One of the most important things to consider about the financial future of your life is your retirement plan, something that many of us tend to gloss over because it seems far enough away to not be important now or because of the complexities that can come with it. In these and many other scenarios, the services of a financial advisor can mean the difference between having potentially tens of thousands more for your retirement plan or simply not having enough to get by.

One of the issues presently is that many of today’s financial advisors simply are not talking to their clients about their social security benefits in detail, a survey conducted by Nationwide Financial Retirement Institute asked people ten years from retirement as well as those already retired showed that financial advisors are not talking about social security with their clients.

This survey also showed that 4 out of 5 of these clients would switch to a different advisor if their current advisor was not talking with them about social security and the benefits within. The reason most advisors are not talking about social security with their clients is very likely due to the vastly complex nature of the social security system itself.

The social security handbook has over 2,700 individual rules and at that high number it is easy to see why it is so complex and why many advisors would stay away from the subject, lacking confidence to handle the volume of complexity.

One of the biggest things for any financial advisor to consider is that their clients will very likely switch to another advisor if what the client feels is inadequate service is being delivered for their money.

The other large reason for any financial advisor to become more versed in the structure of social security is due to the fact that in the retirement income planning process, social security incomes can be up to 40% of that.

One of the leading experts in individual portfolio management is David Giertz, a broker who has been with Nationwide Investment Services for over ten years with over thirty years of experience in the field of investment brokering.