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August 5, 2009, Featured Articles, Advisors/Planners/Reps , Technology
Nationwide and MSSB Ink SALB Deal
A Nationwide income guarantee will be offered to Morgan Stanley Smith Barney's Select UMA holders. The wirehouse expects to use up the initial $250 million capacity in six months.
Nationwide Life Insurance has inked a deal to add a guaranteed lifetime withdrawal benefit (GLWB) rider to certain unified managed accounts (UMAs) at Morgan Stanley Smith Barney (MSSB), the mega-brokerage formed as a joint venture by Morgan Stanley and Citigroup this year.
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