The industry should be ashamed.
There, I said it. As I’ve noted time and again, advisors largely avoid Social Security planning with their clients because they think they either can’t make money from it or they believe their higher-net-worth clients don’t care. Wrong on both counts.
If you eschew Social Security planning because you can’t make a few extra basis points, you fail to see the bigger picture and I fear for your clients. As for the latter, a less-than-optimal claiming strategy can result in hundreds of thousands of dollars less for your high-net-worth clients. Last time I checked, such a sum still constituted a lot of money; I don’t care who you are, you’d be pretty upset with the person who lost it for you.