In a recent interview, David Giertz was asked why financial advisors aren’t talking to their clients about Social Security. In a survey that was conducted by the Nationwide Financial Retirement Institute it was found that most people were not being talked to about their Social Security options at https://davidgiertz.yolasite.com/. This is interesting because 4 out of 5 people also said that they would switch financial advisors if they learned that they weren’t being talked to about it. He was then asked why advisors are avoiding the topic. His prediction is because it is a complex topic to discuss. He states that the Social Security handbook has 2,700 rules and regulations. Therefore, understanding and comprehending so many rules and regulations with enough confidence to adequately explain them to clients is rare. David Giertz suggests that advisors need to take a special interest in explaining social security to clients because Social Security could be up to 40% of a clients income. Another reason is because if people claim their Social Security too early, they could lose up to $300,000 dollars over a 25 year period, that equates to roughly $1,000 dollars per month. That is a lot of money that clients need to be made aware of.
In another interview on Vimeo, Giertz discusses that roughly 37 percent of people who are retired claim that because of health issues, their retirement is not as they had planned. This is one of the reasons clients need a retirement income plan that will help them maximize their social security benefits.
With over 30 years of experience, David Giertz is the Senior Vice President at Nationwide Financial Distribution and Sales. He helped the company grow from $11 billion to $17.8 billion dollars. David Giertz is also registered with FINRA, a company that regulates broker-dealers, as a broker.