Leading insurance and financial services organization, Nationwide, has just announced the launch of a new fee-based fixed indexed annuity (FIA). According to a recent press release, Nationwide Summit fixed indexed annuity is the first of its kind in their offerings meant to address the needs of Registered Investment Advisors (RIAs) and fee-based advisors. Providing capital preservation without sacrificing the potential for growth, Nationwide Summit exclusively features the J.P. Morgan MOZAIC Index (USD).
“Nationwide recognizes the growing market demand for alternatives to help hedge the risk of traditional portfolios managed by RIAs and fee-based advisors,” said Mike Morrone, associate vice president of fixed annuity product strategy at Nationwide. “In today’s low-interest rate environment, the fee-based Summit FIA with the J.P. Morgan MOZAIC Index (USD) offers a powerful accumulation opportunity with no downside market risk.”
The new FIA offering is currently the only one of its kind to offer access to the J.P. Morgan MOZAIC Index (USD), which through live and back-tested performance, would have provided a 5.35% compound annual return with 78% less volatility than the S&P 500 Price Index. Nationwide Summit also includes options for the S&P 500 Price Index and as a fixed account.
“Nationwide is committed to helping RIAs and financial advisors meet a variety of their clients’ needs,” said Eric Henderson, senior vice president of Nationwide life insurance and annuities. “We’re excited to be on the leading edge of a new market and help shift the risk-return profile of clients’ portfolios.”
The fee-based product is only available through the Annexus network of independent distribution companies. For more than a decade, the company has worked to develop market-leading fixed indexed annuities and indexed universal life insurance products. Annexus works closely with design partner Genesis Financial.
Nationwide is a Fortune 100 company based in Columbus, Ohio, and is one of the largest and strongest diversified insurance and financial services organizations in the U.S. The company has earned A+ ratings by both A.M. Best and Standard & Poor’s.
Written by Rachel Summit
