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Products October 11, 2012
Nationwide Expands Annuities Distribution
Nationwide Financial is integrating its alternative and fee-based annuity solutions into the company’s traditional product offerings.
Reported by Jill Cornfield
The move will better align Nationwide’s products with a team-based approach that matches advisers with specialists across a range of solutions for clients.
Moving distribution of America’s marketFLEX Advisor Variable Annuity, marketFLEX II and Nationwide Income Architect Annuity from specialty products to core products will provide additional sales support and allow Nationwide to grow within the fee-based market. It also provides broader support for advisers who need to address client needs with annuities, life insurance, mutual funds and retirement plans.
The growing success of the fee-based market and increased use of alternative investments were part of the reason Nationwide decided to broaden the distribution of specialty product offerings, according to John Carter, president of distribution and sales for Nationwide Financial. “Moving these to our core product line provides advisers a wider variety of tools to help their clients prepare for and live in retirement,” he said.
Nationwide Income Architect is a no-load variable annuity, which includes a built-in minimum guaranteed lifetime withdrawal benefit designed to complement the business models of fee-based advisers.
Nationwide Financial recently added funds to its marketFLEX products, designed to help advisers offer clients the protection of a variable annuity with the enhanced diversification provided by alternative investment options.