Financial Expert David Giertz Tackles SocSec

On a recent episode of the short financial talk show, Wealth Adviser, produced and distributed by The Wallstreet Journal, noted financial expert David Giertz appeared to clear the air on the problems currently surrounding American discourse on social security. Mr. Giertz started off by saying that there was a enormous problem with in the financial advisory industry, namely that not enough financial professionals were providing their clients with enough usable information concerning social security. To back up his claim he cites a survey carried out by his organization, the Nationwide Financial Retirement Institute, which showed that of those surveyed who were ten years from retirement or already retired overwhelmingly said that they were not getting enough relevant information from their financial advisers.


Mr. Giertz stresses that this point is extremely important from both a consumer and a financial advisers perspective. For the consumer, money loss is a huge concern, for instance, if a individual coming into retirement age turns on social security too early they could be looking at a financial hit of around $ 300,000 over a 25 year period, or $ 12,000 a year or $ 1000 a month which, naturally, most people simply do not have the ability to pay.


From a financial advisers perspective their clientele retention rate his also important. After all, you can not expect your client base to stick with you with an regularity when you are not telling them all of the relevant facts they need to know for retirement to ensure that their nest egg is kept safe.