Most financial advisers know that clients expect guidance on when to claim Social Security, yet many struggle with how to make their advice on the government benefit a profitable part of their business.
The complexity of Social Security is intimidating for most individuals, says Bill Kauffman, Senior Market Sales’ vice president of financial planning. He says the firm’s Total Social Security program can help advice professionals identify their clients’ best Social Security claiming strategies while also guiding advisers on how to incorporate Social Security guidance into wider retirement plan service arrangements.
The program gives financial professionals everything they need to offer Social Security advice as a value-added service, whether their goal is to grow assets under management or increase production, according to Kauffman. “They get an easy, efficient way to identify clients’ best Social Security claiming options, pinpoint where their retirement income will fall short, and then identify specific products—annuities, long-term care or life insurance solutions—that can fill those income gaps,” he says.
Total Social Security is available only to financial advisers who contract with Senior Market Sales and meet certain production requirements. The program includes patented software that calculates the best claiming strategies and identifies gaps where clients’ Social Security benefits fall short; training, including webinars and live events; and live support from two teams of experts. One team answers questions about Social Security and one advises on how to incorporate Social Security planning into an overall retirement plan. Marketing materials to promote Social Security planning as a service are also available.
“[The program] connects the dots so consumers easily see their retirement picture and are more likely to act on advisers’ solutions to address their fear about running out of money in retirement,” Kauffman says.
Senior Market Sales is a national insurance marketing organization in Omaha, Nebraska. More information is at Senior Market Sales’ website.