Social Security is an essential part of retirement planning for most mass-affluent clients. And fortunately for advisors, it provides a great tool for client engagement. Its the Social Security Statement, a simple four-page document that can motivate clients and help strengthen your relationship with them.
Step-one is getting the right information in front of your clients. The Social Security Administration used to mail these yearly statements to all workers three months before their birthday. Now, you have to access them electronically (although some older workers can still get paper statements.) Have your clients go to ssa.gov, create a profile and print out a copy. Its easy and quick, but if your client doesnt have access to a computer, they can also call the SSA at 800-722-1213 to request a paper copy. This will take six to eight weeks.
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