In an interview with Veronica Dagner of the Wall Street Journal, financial expert David Giertz explained why advisers need to have a conversation with their clients about life insurance. His company, Nationwide Financial, commissioned a study that took a look at this issue which revealed that many advisers avoid talking about his important subject, mainly due to its complexity. David Giertz laid out why that is a big mistake.

From the adviser’s point of view, it’s a bad move because the study revealed that most investors will switch advisers if their current one won’t talk to them about social security. From the investor’s view, the subject is far too important for an adviser to ignore. Social security at increasingly makes up a large percentage of their income in retirement, 40% for most people. They need an adviser who can tell them when to take social security and sort out the myriad rules and ways of going about it.

Acknowledging that social security is a tough issue to address, Giertz has said that mistake made when deciding when to start taking it can cause huge financial issues. He says that people need to maximize their benefits and sit down with a financial adviser in order to determine when would be the optimal time to do so.

David Giertz has been in the financial industry, including as a financial adviser himself, for about 30 years. He is the President of Nationwide Financial Distributors. He develops their financial products such as annuities, retirement plans, and life insurance policies which are sold through banks, regional companies, and independent brokers and dealers on Vimeo.

In 1986, David Giertz graduated from Millikin University with his degree in business management and administration. In 2003 he also earned his MBA at the University of Miami – School of Business. He is still involved with Millikin University, serving on their Board of Trustees.