Social Security may seem less critical for wealthy families, but the rich are actually more likely than the middle class to expect their advisors to figure out exactly when to start taking government checks.
Software startup SocialSecurityTiming.com polled married couples in their early 60s to find out who helps them make their Social Security start decision.
A full 74% of those earning $200,000 or more want their advisor to help them make the call, compared to just 48% of those earning $50,000 or less.
This might just be a question of perceived value and the expectation that the richer you are, the more likely you will be to have an advisor anyway.
But since this is definitely part of the landscape for these families, advisors who cater to them should make sure they're talking about it.
Otherwise, these clients will go to the Social Security Administration on their own and not get much help.
SocialSecurityTiming.com naturally suggests its software, which is basically a longevity calculator that matches various election scenarios.
The professional version sells for $21.95 a month and gives advisors the power to brand the reports with their own logo and other trade dress.