You will now be able to get more from Nationwide Financial when it comes to alternative types of annuities. Nationwide is taking their fee-based and alternative annuities and joining the products with their traditional annuity offerings. Many people will be able to benefit from this transition within Nationwide, according to Plan Adviser’s Jill Cornfield. In “Nationwide Expands Annuities Distribution,” we learn that this will help advisors better meet their clients’ needs and help clients find products better suited to them. By adding these products to their team-based investing approach, more specialists and information will be available to advisors regarding less traditional annuities.
The MarketFLEX Advisor variable annuity, MarketFLEX II, and Nationwide Income Architect Annuity will no longer be considered specialty products by Nationwide. By switching their distribution and label to core products, there will be a lot more sales support. Nationwide will also likely increase their annuity business overall through more sales of these alternative annuities. Advisors who are looking for more ways to help clients meet retirement needs through annuity products will now be able to better help their clients with easier use of fee-based and alternative annuities.
The Nationwide Income Architect Annuity is a no-load variable annuity meant to help fee-based advisors with their business plans. A minimum guaranteed lifetime withdrawal benefit is included in this no-load annuity. The fee-based market has been growing lately and Nationwide is just keeping up with the way the markets are going. Another current trend is an increase in the choices for variable annuity funds. Regarding the MarketFLEX annuities, Nationwide has added more fund choices and many different investment options. By diversifying their variable annuities and making these and fee-based annuities part of their core product line, Nationwide is becoming a better competitor in the variable annuity market.
Written by Rachel Summit
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