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David Giertz Explains the Importance of Social Security

Nationwide’s President, David Giertz sits down with Wall Street Journal’s Wealth Advisor, Veronica Dagher, to discuss the importance for financial advisors to have a thorough chat with their clients about social security. David Giertz stresses that not enough advisors are approaching the subject of discussing social security. There was a recent survey of consumers initiated by his company, the Nationwide Financial Institute, for those that retired or ten years from retirement that revealed that many weren’t educated about proper social security through their advisors. The survey also showed that 4 out of 5 people said they would gladly change their advisor if the advisor never brought up social security. David believes that advisors avoid talking about social security because the subject is complex with over 2,700 rules alone. It is far too much to comprehend for them to properly teach to their clients. Those that decide to turn on social security too early will likely lose up to approximately $300,000 over a 25 year span. That’s equivalent to losing $12,000 a year or $1,000 a month. David states that social security is extremely important for the client to fully optimize their retirement income.

David L. Giertz is the President of Nationwide Financial Distributors Inc., and the Nationwide Financial Services, Inc. David has held his title of company President since March 2013. With over 30 years of experience in the financial service industries, David gained expert knowledge for being a strategist for financial and innovative growth. David Giertz received an MBA from the University of Miami. He later graduated with a Bachelor of Science degree at the Millikin University at Decatur, Illinois. Before his role at Nationwide, David’s career was spent at Citigroup for almost a decade. He was a financial Services Advisor there and was later promoted to an Executive Vice President of Sales.

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