Through a survey conducted by National Wide Retirement Financial Institute, whose members are mostly the retired and those who are ten years away from retirement, most financial advisers don’t talk about social security to their clients. In the survey, it also showed that four out of five people were willing to change their financial advisers if they were not talking about social security.
According to David, most financial advisers tend to avoid the topic of social security, as it’s seen as a wide complex topic which is based on numerous rules. This was seen to have a negative effect to the advisers, as clients were seen to move to advisers who were concerned about social security plans. This means that financial advisers may require to equip themselves on the issue. In the survey, they also found out that those who turn on to social security so early may lose up to $300,000 for a period of more than twenty-five years, which translates to one thousand dollars a month, thus the need to optimize on the social security plan.
Having an MBA from the University of Miami and a BS from Millikin University, David Giertz is the current President of Nationwide Financial’s sales and distribution organization, (NFS Distributors Inc). His responsibilities range from wholesale strategy and distribution of retirement plans in the private sector, specialty markets, life insurance, annuities and mutual funds through banks as well as independent dealers and regional firms.
Having an experience of more than three decades in the financial service industry, David Giertz has been involved with various organizations. He has previously held position on the board of Trustees with Millikin University and currently holds a position as an arbitrator with FINRA. Mr. Giertz has as well served as President, Senior Vice President and Director for several other Nationwide companies.