Why clients need to know about their social security benefits- Interview by David Giertz

David Giertz is a financial advisor with the Nationwide Investment Services Corporation. He has been working in this sector for the past 31 years and had a lot of experience in investment banking. One of the issues David feels affects the industry deepest is the fact that not many clients factor in the social security benefits when planning for retirement. In an interview on about.me that he did for the Wall Street Journal, he outlined the challenges that pensioners face when it comes to claiming their benefits.

According to a study that was conducted by the Nationwide Investment Services, very few investment bankers were talking to their clients about the importance of their social security benefits at https://soundcloud.com/davidgiertz. A shocking 86 percent of the sample of people interviewed did not even know the factors that affected the amount of money they were receiving as security benefits.

Read more: These big mistakes will result in smaller Social Security checks

David Giertz says that most of the people make mistakes such as starting to claim benefits as soon as they are 62. He explained that the earlier one started claiming these benefits, the fewer the monthly amounts would get. Giertz observed that over a period of 25 years, one could lose up to 300,000 dollars in benefits, which translated to $12,000 annually. Four out of five clients stated that they would drop an advisor if they realized he was avoiding the topic of social security benefits.

Among the top reasons behind avoidance of the subject is the fact that 2,700 rules govern social security benefits distribution and the advisers finding the topic long and tedious. David Giertz stated that financial advisors needed to get over the complexity of the item and give their clients more reliable information regarding the issue on moneytips.com.

Other places that David has worked include his position as the vice president sales at FI/WH between 2009 and 2013. He currently operates from the One Nationwide Plaza in Columbus, Ohio.