Nationwide Offers Advisers Access to Small Plan Fiduciary Services
COLUMBUS, OH, August 15, 2016 -- Nationwide now offers advisors access to a turnkey solution that helps small employers minimize investment fiduciary risk while maximizing efficiency through LPL's 3(38) Small Market Solution service.
"Advisors are telling us that small business clients want to help their employees save for retirement, but business owners and advisors can't do it alone," said Joe Frustaglio, vice president of private sector retirement plan sales at Nationwide. "Business owners need the support of advisors and plan providers. This new tool is a big leap forward in helping small business owners protect themselves and manage effective retirement plans."
Through the plan's 3(38) investment fiduciary service, LPL Financial acts with discretionary authority over the plan's investment selection and ongoing monitoring and offers employers assistance with a number of administrative functions.
The Small Market Solution also features enrollment in Worksite Financial Solutions, a guidance-based, beginning-to-end retirement solution designed to help employees create confidence in their financial life. Worksite Financial includes four custom solutions tailored to meet the needs of employees throughout the life of the plan:
"With access to LPL's Small Market Solution, small business owners are enabled to serve retirement plans cost effectively," said David Reich, LPL executive vice president and head of Retirement Partners. "We are proud to be able to put LPL's size and scale to work to offer the tools and resources that can help firms such as Nationwide in the delivery of retirement plan solutions to its clients."
Nationwide, a Fortune 100 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 a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.
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