Helps RIAs and Fee-Based Advisors Incorporate Insurance into Holistic PlanningNew Product for Fee-Based Channel Marks Latest Integration Milestone with Fortune 100 Parent
Louisville, KY – March 13, 2019 – Nationwide Advisory Solutions, a leading innovator of investing solutions for registered investment advisors (RIAs), fee-based advisors and the clients they serve, has achieved another milestone with the launch of Nationwide Advisory Retirement Income Annuity (NARIA)℠, a new variable annuity (VA) with an income guarantee designed expressly for RIAs and fee-based advisors to align with their values and fit the way they work.
NARIA can help RIAs and fee-based advisors incorporate insurance into the holistic planning process with a simple, transparent, low-costi VA to help clients prepare for and live in retirement. NARIA is one of the industry’s first “advisory friendly” VAs with fee-management capabilities that will not erode the client’s benefit baseii, eliminating a key friction point for advisors while creating greater value for clients. For RIAs who don’t hold an insurance license, Nationwide Advisory Solutions provides a licensed insurance agent service direct to the advisor and their client at no additional cost, to help them enhance their client relationship and eliminate the unnecessary expense of any third party.
10,000 Boomers A Day…
“As 10,000 Boomers a day leave the workforce to start a retirement that could last 20 to 30 years or more, saving enough for retirement and outliving their savings are among their greatest fears. To help clients accumulate more for retirement and generate guaranteed income they can’t outlive, NARIA is a new insurance solution designed to fit the way RIAs and fee-based advisors work,” said Craig Hawley, head of Nationwide Advisory Solutions. “While more companies claim to offer insurance for the independent fee-based channel, none have our proven track record. We have become a dominant player by serving more than 5,500 RIAs and fee-based advisors and helping them create a competitive advantage.”
With NARIA, RIAs and fee-based advisors can provide more holistic planning, by incorporating insurance that combines tax-deferred growth potential, downside protection and guaranteed retirement income for life. NARIA Retirement Income DeveloperSM, an optional living benefitiii, is designed for pre-retirees and retirees who need future income guaranteed for life but also desire market participation. This guaranteed lifetime withdrawal benefit with a potential step-up feature gives clients the ability to benefit from potential market growth while protecting income from possible market losses. Withdrawing income will not change the client’s benefit base, but certain types of withdrawals can impact income, contract value and death benefits. Offering more than 130 underlying funds from more than 25 fund families, NARIA provides more choice and greater investing flexibility than the majority of traditional VAs with living benefits.iv
In addition to innovating product design, Nationwide Advisory Solutions has developed an innovative end-to-end process adopted by more than 5,500 RIAs and fee-based advisors. This includes an online application, web-enabled account management, and comprehensive integration capabilities with more than 95 percent of all fee-based advisory platforms and technologies, including direct data feeds into the advisor’s workstation, allowing RIAs and fee-based advisors to manage a client’s insurance assets alongside other investments in their portfolio, for more holistic financial planning. Nationwide Advisory Solutions’ award-winning advisor experiencev is built using advanced analytics and artificial intelligence, based on more than a decade of expertise in meeting the unique needs of RIAs and fee-based advisors.
Further expanding the category of insurance products expressly designed for RIAs and fee-based advisors marks another key integration milestone for Nationwide Advisory Solutions and its Fortune 100 parent. This follows the recent launch in late 2018 of Nationwide Advisory Income℠, the industry’s first single premium immediate annuity (SPIA) for RIAs and fee-based advisors. Nationwide Advisory Solutions, formerly known as Jefferson National, is the pioneer behind Monument Advisor, the industry’s firstvi Flat-Feevii Investment-Only Variable Annuity (IOVA). Nationwide Advisory Solutions was acquired in 2017 by Nationwide, one of the largest providers of insurance and financial services products in the U.S.
About Nationwide Advisory Solutions
Nationwide Advisory Solutions, formerly known as Jefferson National, is a recognized innovatorv with a mission to help RIAs and fee-based advisors build their practice by helping their clients to potentially accumulate more wealth and reach their financial goals. It does this by developing and delivering value-added investment products, services and technologies that dovetail with fiduciary obligations—wrapped in an industry-leading customer experience.v To learn more, please visit www.nationwideadvisory.com
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.
i 0.20% annually (0.15% mortality and expense charge; 0.05% administrative charge)
ii Each adjustment for amounts subsequently surrendered will reduce the living benefit in the same proportion the contract value was reduced on the date of the partial surrender.
iii Additional fees apply. See the prospectus for details.
iv Morningstar Data as of 03/01/19.
v 2018 WealthManagement.com Innovation Award.
vi Mogel, Gary S. (2005, June 6), Flat-fee variable annuity makes its debut. Investment News. Retrieved from http://www.investmentnews.com/article/20050606/SUB/506060708
vii Jefferson National’s Monument Advisor has a $20 monthly flat insurance fee. Additional low-cost fund platform fees ranging from .10% – .35% will be assessed for investors wishing to purchase shares of low-cost funds. See the prospectus for details.