Nationwide Introduces Simplified Small Plan 401k Product
COLUMBUS, OH, September 9, 2013 -- Nationwide Financial, a U.S.-based diversified financial services organization, today introduced Nationwide Retirement Innovator AdvantageSM, a new small plan 401k product designed by, and for, retirement plan advisors. The new product makes it easier for retirement plan advisors to sell and service retirement plans by offering a streamlined investment menu and a built-in 3(21) fiduciary service from Morningstar Associates® at no additional cost to the plan sponsor.
"In our role as a strategic partner, we spend a lot of time listening to firms and their advisors, and many articulated a need for a simpler product with a streamlined process," said Joe Frustaglio, vice president of private-sector retirement plan sales for Nationwide Financial. "As a U.S. company, we clearly see and understand the looming retirement crisis Americans face. By delivering customizable and simplified products that help advisors address these complex retirement challenges for participants, we will continue to deliver on our mission of helping America prepare for and live in retirement."
Some of the key features of Nationwide Retirement Innovator Advantage include:
Nationwide Financial has simplified its retirement plan product menu by offering two distinct products, Nationwide Retirement Flexible Advantage® for advisors looking for flexibility and control, and Nationwide Retirement Innovator AdvantageSM for advisors looking for ease and simplicity.
"From our start more than 90 years ago, we have been committed to understanding the needs of small business owners, helping them grow their own business, and helping them meet the needs of their clients. We believe our two retirement plan products round out Nationwide's ability to meet the needs of our partner firms and their advisors," Frustaglio said.
Flexible Advantage, the other half of Nationwide's simplified retirement plan product menu, quickly became Nationwide's fastest selling retirement plan, with more than $3 billion in sales since its launch in 2011. Flexible Advantage provides advisors with complete flexibility and control in plan design through its wide selection of investment and product options. It also includes Investment Solutions BuilderSM, a web-based investment tool for Registered Investment Advisors (RIAs) to build and manage core fund lineups, and create and maintain plan-level asset allocation models.
Nationwide offers additional fiduciary support for both Flexible Advantage and Innovator Advantage through its Nationwide Financial Fiduciary Series, Fiduciary Warranty and a 3(38) Investment Fiduciary service from IRON Financial.
Advisors interested in learning more about Innovator Advantage should call 1-800-626-3112. Plan sponsors interested in more information should call 1-888-262-401k.
Nationwide Mutual Insurance Company, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor's. The company provides customers a full range of insurance and financial services, including auto insurance, motorcycle, boat, homeowners, pet, life insurance, farm, commercial insurance, annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services. For more information, visit www.nationwide.com.
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