3 Things a Social Security Strategist Can Do for Your Business

What three things does your business gain with a Social Security Strategist on your side?

1. Adds value to your list of services resulting in deep client relationships.

Eligible adults want help integrating all their different income streams with their Social Security benefits. Add Social Security expertise and realize this unique opportunity to give clients something they generally can't easily access. This leaves no doubt in their mind that no one can serve them the way your firm does. 

2. Attracts prospects leading to business growth.

"The number of Americans 65 and older will increase from approximately 56 million today to over 78 million by 2035."(2) This demographic needs reliable insight. Adding Social Security services to your business can help you scale and grow through potential added business and client referrals.

3. Become a trusted source in the industry, leading to business longevity.

Flip the narrative on centers of influence (COI) relationships. Typical COI-advisor-type alliances find themselves on a one-way street, with financial professionals sending clients to the tax or estate planner. But if you're known to have a Social Security strategist on your team, your COIs now recognize the value you provide to their clients and, in general, are happy to send referrals your way.

Introducing our Social Security Strategist

As senior vice president and Social Security strategist, Hamilton Morales is an accomplished speaker for many FIG financial professionals nationwide. Hamilton's been in the financial services industry since November 2001, both as a wholesaler and producer.

He holds the National Social Security Advisor (NSSA) designation and has been with Financial Independence Group (FIG) in Charlotte, NC, since February 2005. Hamilton oversees FIG's Social Security division and manages all its initiatives.

Hamilton's experience and background include:

• Guest speaking on radio shows where he discusses Social Security issues and concerns (Listen to him on our recent episode of the Retirement Inside Out podcast!)
• Coaching financial professionals on how they should interact on the topic during program seminars and client appointments
• Supporting and training over 1,000 financial professionals nationwide with social security benefits analysis

No matter if someone is just starting in the workforce or ready to retire, Social Security impacts their finances; they need assurance that you know the difference between reality and the half-truths they've heard from family and the Internet.

A Nationwide survey on consumer sentiment around Social Security found 75% of clients would be likely to switch financial planners if their current planner couldn't give them satisfactory help with their Social Security benefit decisions. (1) 

Are you interested in expanding your Social Security business and want strategic insight from FIG and Hamilton? Click to learn more today.

Why does it make sense for a financial professional to have access to a Social Security strategist?

A client's financial well-being consists of various products, strategies, and goals pulled together with a financial professional's help.

The planning may start by looking at short-term needs or focus on long-term planning—it depends on the client—but the conversation is undoubtedly never one-dimensional. There are taxes to consider, estate plans to review, investments to monitor, retirement plans to uncover, and even decisions regarding lazy money.

One financial topic not to overlook is Social Security's impact on a person's retirement plans and how to ensure it'll work in their favor.

Did you know there are about 2,700 rules related to the Social Security program?

AND

If you Google "Social Security rules to know," about 1,500,000,000 results pop up in 0.56 seconds!

As a professional looking to optimize your client's financial plans, you must understand all those rules and how to align them against each situation. If you don't have that knowledge in your wheelhouse, you'll need an alliance with someone who knows the rules inside and out.

Financial professionals working with FIG are encouraged to invite Hamilton to speak to their clients, prospects, and business associates, such as broker-dealers, RIAs, and financial professionals. Each presentation is tailored to the audience and guided by the needs of the host. Presentations include large seminars, lunch or dinner events, college classes, podcasts, and radio shows.

We know confusion and questions exist around Social Security benefits, connect with Hamilton today to get a head of the conversation!

Related: How Are Social Security Benefits Calculated?

Sources:

1. The Nationwide Retirement Institute ? Social Security Survey, 2022.
2. Yahoo: What Social Security Could Look Like in 2035, 2023