The importance of Social Security discussions with financial advisors

In an interview with the Wall Street Journal, David Giertz acknowledged that the results of a survey conducted by the Nationwide Financial Retirement Institute revealed that most financial advisors are not informing their clients about social security benefits and planning. For client retention, it is extremely important for advisors to discuss social security as it can encompass 40% to 50% of some client’s annual income and as a result of this, 4 out of 5 consumers stated that they would change advisors for not providing this financial information. There is only speculation as to why advisors currently ignore discussions of social security, possibly due to the large quantity of rules and regulations necessary. Giertz finished the interview by stressing the importance of social security discussions for both the financial future of the consumer and the long-term loyalty and security with a financial advisor.

David Giertz has over 30 years of experience in progressive financial services through his work with Citigroup and Nationwide. Giertz was president of Nationwide Financial Sales and Distribution until 2016 where he worked on private-sector retirement plans, life insurance, annuities and mutual funds with major banks. He also led the Financial Institutions Bank channel and is an industry arbitrator with FINRA.

Giertz is also an active member of the community, with a nine-year tenure as chair of the board of trustees for Millikin University as well as a member of the Board of Directors for the Girl Scouts. Giertz primarily frequently gives interviews discussing the importance of retirement financial planning and the roles of both the consumer and a financial advisor in maintaining a healthy financial relationship.

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