Financial advisors are supposed to present all aspects of a retirement plan and the estimated retirement income from that plan to their clients according to cnbc.com. However, there are those that feel Social Security has become a touchy subject and something that some financial advisors have a tendency to gloss over and that the client may hesitate to ask about.
David Giertz of Nationwide Financial feels that the retirement and insurance industry might need a small correction at https://angel.co/david-giertz. This is not some attention getting statement; the Nationwide Retirement Institute conducted a survey that revealed some 30 percent of people already receiving Social Security are getting less money than they thought they would. But, the bottom line here really is money as there is also the fact that people who decide to claim Social Security earlier than they really have to could lose up to 300,000.00 over 25 years. In simpler terms; that is $1,000.00 per month.
However, David Giertz has stated that this goes both ways; a financial advisor that shies away from Social Security may find they are losing clients.
He feels one of the major factors in this unfortunate trend is the Social Security Rule Book containing 2,700 rules. The idea he presents is the financial advisor not only feels a professional accountability; but also one of personal conscience. Most financial planners on Twitter are just like other people at work; they want to do the best job they can but 2,700 rules is a lot of information to understand and remember at the drop of a hat.
David Giertz has more than 30 years of experience in financial investments currently working with Nationwide Investment Services Corporation. He graduated with a degree in business from the University of Miami and is registered with the Financial Industry Regulatory Authority. He is also licensed and certified to act as a financial advisor in more than 15 states.