According to David Giertz, talking about social security with your clients is vital for financial advisors. A Nationwide Financial Retirement Institute found that four in five financial advisor clients would switch to another advisor if their current one did not help them to maximize their social security income on moneytips.com. Many of the respondents say they expect for their advisor to help them with this and to talk about social security income in their retirement.
These findings from the Nationwide Financial Retirement Institute are at odds with the current attitude of most financial advisors in the industry today. Many financial advisors feel uncomfortable talking about social security when it comes to retirement, because many of them do not have the complete knowledge of social security and its effect on retirement on angel.co. Nationwide Financial has come up with a tool to address this lack of knowledge on behalf of financial advisors called the Social Security 360 Advisor. The tool should help financial advisors better understand all the options retirees and those planning to retire soon have when it comes to social security. It also provide analysis and projections at https://twitter.com/davidgiertz.
Giertz goes on to say that financial advisors need to talk about social security with their clients because it is a retention move. If you don’t talk about it, you will risk losing your clients. If you do, then you are much more likely to have your current client stay and be a satisfied client at that.
About David Giertz
David Giertz is a longtime financial advisor who currently serves as the senior vice president of financial distribution and sales at the Nationwide Life Insurance Company. He has worked for over 31 years as a broker and financial advisor. Mr. Giertz presently works at the Dublin, Ohio location of Nationwide Life Insurance and is a certified FINRA broker.