That is just one of hundreds of decisions the two Social Security experts say an advisor could face with the recent changes. The ability to file a restricted application is similar to file and suspend. It allows a person to file for benefits, but then receive spousal benefits instead while the filers’ benefits continue to grow.
“This makes recommending an optimal strategy complicated and requires careful analysis and comparison,” the two say in a paper they authored, “You Can Still Get More for Your Clients.”
“Your clients still expect you to provide expert advice on their claiming options and they will want to view and discuss the tradeoffs of various claiming strategies,” Meyer says. “This is an opportunity for the advisor to add value to his service because there are a lot of options out there and a lot of the strategies that are based on trying to determine the clients’ longevity.”