With an eye toward growing its share of the fee-based advisory market, Nationwide Financial intends to integrate distribution of certain no-commission variable annuity contracts with distribution of the company’s traditional offerings.
Nationwide will move the distribution of its “America’s marketFLEX Advisor” and “marketFLEX II” variable annuities, which offer exposure to alternative investments, and the “Nationwide Income Architect” variable annuity, which has a lifetime income benefit, from “specialty” to “core” products area, which includes mutual funds, life insurance and retirement plans.
“The move will better align Nationwide’s product offerings with its team-based approach that puts advisors in touch with specialists across a broad range of client solutions” for consultation on retirement income, accumulation and risk management, the Columbus, Ohio-based company said in a release.
“The growing success of the fee-based market and increased use of alternative investments has us broadening the distribution of our specialty product offerings,” said John Carter, president of distribution and sales for Nationwide Financial, in a release. “Moving these to our core product line provides advisors a wider variety of tools to help their clients prepare for and live in retirement.”
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