The Importance Of Financial Advisors Talking To Their Clients About Social Security

In an interview with The Wall Street Journal, Nationwide Investment Services Corporation Senior Vice President David Giertz talked about the importance of financial advisors talking to their clients about social security. David Giertzsaid that a recent study on his company conducted showed that the majority of financial advisors don’t discuss it all with their clients which is a big mistake for two reasons.

The first reason is that social security makes up a large percentage of most people’s income after retirement; up to 40% for many people. That makes the issue just far too large to ignore as part of addressing their overall financial needs on Bloomberg. The second problem is that the study showed that most clients will leave their financial advisor if they don’t talk about the subject since it is so important to them. Giertz says on Facebook that this will definitely hurt the advisor from a retention standpoint if they continue to ignore this issue. As for why many advisors avoid talking about social security Giertz said it was due to the sheer complexity, pointing out the Social Security Handbook has 2700 rules in it.

David Giertz works for Nationwide Investment Services Corporation out of his office in Columbus, Ohio. He has been the Vice President of the company’s Financial Distribution and Sales Division since April 2013. Since March 2013 he has also been the President of their subsidiary, Nationwide Financial Distributors, Inc. He continues to also serve as a financial adviser to his clients and has over 30 years of experience in the financial industry.

Giertz earned his Bachelor’s Degree in 1986 from Millikin University in Springfield, Illinois, majoring in Business Administration and General Management. Upon his graduation from Millikin University he quickly jumped into finance. He has also earned an MBA from the University of Miami – School of Business.