David Giertz is the President of Nationwide Financial. In a recent interview with The Wall Street Journal he discussed how it’s vital for financial advisors to address social security with their clients. Unfortunately, most financial advisors are doing a disservice to their clients by not talking about it, and the reason why Giertz thinks this is the case is because of the complexities surround social security. This complexity includes a handbook to it that 2700 rules in it. A lot of financial advisors on Facebook don’t feel they totally understand how social security works and so have a lack of confidence in their ability to advise clients about it.
The failure of financial advisors to talk about social security not only hurts their clients, many of whom will be relying on social security as a large part of their post-retirement income, but harms their ability to retain clients. Not only can social security make upwards of 40% of a retiree’s income but if they start collecting too soon they can lose up to $300,000 in benefits over 25 years. In a recent survey on giertzmusic.wordpress.com that Nationwide Financial conducted four out of five people said they would switch advisors if the ones they have doesn’t include social security as part of the conversation.
David Giertz has been with Nationwide Financial since 204. His current responsibilities at the firm include planning corporate strategy as well as overseeing the company’s products including retirement plans, life insurance, and annuities. He also oversees the company’s financial distribution network wich includes banks, wirehouses, independent brokers and dealers, and other financial firms.
David Giertz earned his Bachelor’s Degree in Business Administration and Management from Millikin University in Decatur, Illinois. He also earned an MBA in Business Administration and Management from the University of Miami – School of Business. He has established himself as an expert in retirement planning and financial management.
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