David Giertz, an executive in the financial and insurance industries, has a message for financial advisors. He says that many don’t discuss social security strategies with their clients, mainly because it’s very complex with thousands of rules in place. He says this is no excuse, though, and their clients deserve their guidance when choosing when and how to start collecting on social security.

For their own self-preservation David Giertz says that advisors should learn all they can about social security so they can help their clients. This is because a recent study his company had commissioned most respondents said they would be more than happy to change their advisors if they’re current one wouldn’t give them advice on this subject.

Towards the end of an interview he conducted with the Wall Street Journal, David Giertz said that social security could make up 40% of many people’s incomes in retirement. He says that when people start collecting social security they could lose up to $300,000 in benefits over the rest of their lives. This is why they need the help of their advisor.

David Giertz was a financial advisor at Citigroup for a number of years. He eventually became an executive at Citigroup before joining Nationwide Financial in 1999. He started out working in the Miami, Florida, area as a regional vice president. His last position at this company was as the president of their financial distributors division. He set out the company’s strategy when it came to life insurance, annuities, and retirement products. While serving in this position he boosted this division’s revenues from $11 billion to almost $18 billion a year.

As a philanthropist and business leader, David Giertz has used his financial knowledge to help a number of nonprofits. He has been on the board of directors for two organizations; the Fort Lauderdale Chamber of Commerce and the Girl Scouts of Broward County. He has also served as the chairman of budget and financing for his college alma mater, Millikin University of Decatur, Illinois. He is also a Certified Business Coach who has helped over 100 people attain leadership positions.

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