As a financial advisor, how should I document social security?

​Good financial advising requires the advisor to know the client's life circumstances. Many Client Relationship Management (CRM) systems lack a social security section to document the client's projected or actual social security figures.

​The Social Security Administration (SSA) provides annual statements online to non-retired individuals showing their estimated benefits. ProTracker Advantage® provides a screen to document estimated or actual social security amounts. 

A checkbox called "Claiming Benefits" appears on the Social Security Benefits dialog box. This checkbox helps identify Contacts approaching Social Security decision points but who are not claiming benefits.

A global list of Clients who are not claiming benefits helps proactively contact clients about their forthcoming meeting with the Social Security Administration.  The resulting list helps to start conversations with Clients.

Questions about social security quickly morph into questions about future cash flows during retirement. The typical question is, "How much longer do I have to work?" These types of retirement questions invariably lead to required minimum distribution (RMD) calculations.

ProTracker Advantage® has an extensive RMD calculator and tracking tool to support the advisor with answers to client questions. Take a quick visual tour of the RMD Calculator here.