Failing to Address Social Security is a Problem for Financial Advisers

In a June 11, 2014 interview on wsj.com, Mr. David Luther Giertz, a financial adviser with Nationwide Investment Services Corporation, spoke about the fact that many financial advisers are failing to address Social Security matters with their clients and emphasized that this could have retention implications for those advisers.

Mr. David Giertz referenced a survey conducted though the Nationwide Financial Retirement Institute. That survey found that most people who are retired or within 10 years of retirement say that their advisers are not speaking with them about Social Security retirement benefits on angel.co. The survey also showed that four out of five people say they would change their financial advisers if their adviser was not discussing Social Security issues with them.

David Giertz believes that this is because Social Security is a “very complex topic,” and that it has to do, in part, with confidence about all of the applicable Social Security rules. Giertz stressed the importance of Social Security considerations in retirement planning, and stated that Social Security could be up to 40 percent of clients’ retirement income on moneytips.com. Those clients who start taking Social Security retirement benefits too soon could lose up to $300,000 over 25 years or $1,000 a month.

Dave Giertz has been Senior Vice President-Nationwide Financial Distribution and Sales at Nationwide Life Insurance Company since April 3, 2013. He has been President of Nationwide Financial Distributors Inc. since March 2013. He also serves as President, Senior Vice President and Director for several other Nationwide companies at https://twitter.com/davidgiertz \. Previously, Mr. Giertz served as Vice President-Sales, FI/WH from 2009 to 2013 and as Vice President-NF Sales (Bank Channel) between 2004 and 2009.

Mr. Giertz has over 31 years of experience and has passed four exams. He is registered with FINRA as a broker.

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