David Giertz has a message for Financial Advisers
David Giertz, President of Nationwide Financial Distribution and Sales, weighed in on the failure of financial advisers to discuss social security retirement benefits with their clients. A study was conducted through a survey of consumers within 10 years of retirement age, and those newly retired. The majority claimed that their advisers did not talk to them about social security, and four out of five of these individuals reported that they would switch financial advisers if the topic was not discussed during retirement planning.
Giertz points to the complexity of the social security program as just one of the main causes of this failure. With over 2,700 rules in the handbook, the financial advisers themselves might find it overwhelming, and therefore fail to discuss it with their clients.
From the consumers position, social security benefits account for up to forty percent of their income during retirement, and ultimately have a bearing on whether or not they are able to retire comfortably. Therefore, despite the complexity of the program, financial advisers do well to become comfortable with the rules so that they can discuss them with clients during the retirement planning process.
David L. Giertz, age 53, has been president of Nationwide Financial Distributors Inc. since March 2013. He is also serving as President, Senior VP, and Director for other Nationwide companies as well.
David is a registered broker with FINRA. He has passed the General Securities Representative Exam, Uniform Security Agent State Law Exam, General Security Principal Exam, as well as the Municipal Securities Principal Exam. He has over 30 years of experience in the financial industry, and is currently based in Columbus, OH.