Don’t Forget to Advise on Social Security!

In a 2014 interview by Wall Street Journal, David Giertz explains the importance of financial advisors advising clients about social security. In the interview on Instagram, Giertz stresses that social security is an important source of income for retirees (accounting for up to 40% of their income). He notes that if social security is taken too early then clients could lose up to $300,000 dollars over 25 years. He further notes that in a survey by the Nationwide Financial Retirement institute that the majority of financial advisors are not talking to clients about social security. He attributes this to the fact that there are many rules surrounding social security. He says that it is important for financial advisers to become comfortable with all of these rules on Giertz stresses, however, that it is very important to talk to clients about social security because four out of five clients surveyed said they would switch advisors if their advisor did not speak to them about social security.

Read more: Insurance Agent at Nationwide Financial Institution in Fort Lauderdale, FL

In an article written by Giertz himself (written for, Giertz states that 87% of retirees claimed social security too early. He says that although many financial advisors are not advising their clients about social security benefits that many are in the process of learning more about social security. Giertz says that this is due to clients increasingly demanding that their financial advisors be knowledgeable on the subject.

David Giertz graduated with a bachelor’s degree in Business Administration and Management from Millikin University in 1986. He received his MBA in Business Administration and Management from the University of Miami in 2003. Giertz has been president of Nationwide Financial Distributors for over 4 years. Giertz has a total of 31 years of experience in business.

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