A recent survey of retirees and pre-retirees found that
only 52% of respondents had received Social Security advice for their financial advisors. In other words, half of advisor clients still are not getting this advice.
This is, suffice to say, a potentially disastrous oversight. The Nationwide survey gives four major reasons why:
- Advisors risk losing clients if they fail to include Social Security in their clients’ financial plans.
- Many clients are uninformed about Social Security.
- Many clients take Social Security earlier than they should.
- Advisors can make all the difference.
As Savvy advisors, it will fall to you to help your clients navigate around the many Social Security pitfalls.