Ability to select, customize underlying investments added to Nationwide Financial variable annuity living benefits
Fund additions, name change part of annual update to strengthen variable investment options for consumers
FOR IMMEDIATE RELEASE
April 30, 2007
Contacts:
Jeff Whetzel (614) 249-6354
whetzej@nationwide.com
Jeff Botti (614) 249-6339
bottij@nationwide.com
COLUMBUS, Ohio— To provide individuals with more allocation choices and greater ability to customize portfolios within their variable annuities, Nationwide Financial Services, Inc. (NYSE: NFS), today announced the introduction of Nationwide Custom PortfolioSM. The flexible portfolio management system, available with Nationwide variable annuity living benefit riders beginning May 1, offers investment professionals and their clients more than 50 underlying investment options, spreading across nine asset classes and seven risk tolerances.
“We’ve listened to investment professionals and recognize that many prefer a more hands-on approach when it comes to selecting funds for their clients,” said John Carter, president of Nationwide Financial Distributors, Inc. “Nationwide Custom Portfolio provides them with the opportunity to share their fund selection experience with clients while offering the flexibility and choice they’re looking for.”
Carter said implementing Nationwide Custom Portfolio is a simple three-step process where:
1. The investor selects his or her risk tolerance using an Investor Profiling Tool
2. Specific percentages are allocated by asset classes based on the determined risk tolerance
3. The investment professional and their client choose among several underlying investment options within each asset class from a pre-approved list of available investment options and percentages
“Nationwide Custom Portfolio offers investment professionals the ability to provide clients customized diversification by choosing underlying investment options based on specific needs,” said Carter.
Nationwide Custom Portfolio is an enhancement to Nationwide Financial’s competitive portfolio of variable annuity living benefits, The Nationwide Lifetime Income RiderSM (L-Inc) and Capital Preservation Plus Lifetime Income® (CPPLI). Carter said the riders provide consumers with two
income withdrawal options to choose from based on their primary needs, whether that’s lifetime income with Nationwide L-Inc or principal protection through CPPLI.
“The flexibility of our living benefits has been well received by investment professionals and their clients,” said Carter. “Nationwide Custom Portfolio will strengthen these riders by offering more quality investment choices for individuals to choose from.”
Investors who purchase the Nationwide L-Inc or CPPLI rider now have five options for the variable portion of their investment:
• Nationwide Custom Portfoliosm
• Nationwide NVIT Investor Destinations Funds
• Nationwide Allocation Architect®
• Fidelity VIP Freedom Funds
• American Funds NVIT Asset Allocation Fund
In addition to introducing Nationwide Custom Portfolio, Nationwide Financial also announced the following additions to their investment line-up:
• American Funds NVIT Growth-Income Fund, which seeks both capital
appreciation and income focusing primarily on common stocks or other
securities that demonstrate the potential for appreciation and/or
dividends.
• American Century VP International Fund, an investment that seeks
capital growth, focusing primarily on securities of companies in at least
three developed countries, excluding the United States.
• Janus Aspen Series INTECH Risk-Managed Core Portfolio, which seeks
long-term growth of capital, focusing primarily on common stocks of
large-sized companies selected for their growth potential.
Nationwide also announced the names of the individual Gartmore and Gartmore Variable Insurance Trust (GVIT) subaccounts are changing. For most of the subaccounts, the name changes include replacing “Gartmore” with “Nationwide” and “GVIT” with “NVIT” (for Nationwide Variable Insurance Trust).
The name change will impact all variable annuity and variable life insurance products issued by Nationwide Mutual Life Insurance or Nationwide Life and Annuity Insurance Company.
Carter added that Nationwide’s investment research team constantly monitors their fund lineup, making adjustments as necessary to ensure investment professionals have alternatives that may help achieve investment objectives for clients.
“Our commitment to quality is what has driven our investment management team since we pioneered the multi-manager variable product more than 20 years ago,” said Carter. “They continually evaluate our investment options to ensure we’re providing the depth and breadth of solutions that will help investment professionals best meet their clients’ needs.”
Variable products are sold by prospectus. Potential clients may obtain both the product prospectus and underlying fund prospectuses from their investment professional or by writing to Nationwide Life Insurance Company, P.O. Box 182021, Columbus, Ohio 43218-2021. Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. The product prospectus and underlying fund prospectus contain this and other important information. Read the prospectus carefully before investing or sending money.
Nationwide Allocation Architect is offered by Nationwide Investment Advisors, LLC, a SEC registered investment advisor. Variable annuities and variable life insurance products are underwritten by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio, members of Nationwide Financial®. The general distributor is Nationwide Investment Services Corporation, member NASD. In MI only: Nationwide Investment Svcs. Corporation.
The underlying investment options aren’t publicly traded mutual funds and aren’t available directly for purchase by the general public. They are only available through variably annuity policies issued by life insurance companies.
The Fidelity VIP Freedom Portfolios are designed to provide diversification and asset allocation across several types of investments and asset classes, primarily by investing in underlying funds. Therefore, in addition to the expenses of the Fidelity VIP Freedom Portfolio, you are indirectly paying a proportionate share of applicable fees and expenses of the underlying funds.
About Nationwide Financial
Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded
company based in Columbus, Ohio, provides a variety of financial services
that help consumers investi and protect their long-term
assets, and offers retirement plans and services through both public- and
private-sector employers.
It’s part of the Nationwide group of companies, which offers diversified insurance and financial services. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 104 on the Fortune 500 based on 2006 revenue.ii For more information, visit www.nationwide.com.
Nationwide, Nationwide Financial and the Nationwide Framemark
are federally registered service marks of Nationwide Mutual Insurance
Company. Capital Preservation Plus Lifetime Income is a federally
registered service mark of Nationwide Life Insurance Company. Nationwide
Custom Portfolio and The Nationwide Lifetime Income Rider are service
marks of Nationwide Mutual Insurance Company.
© 2007, Nationwide Financial Services, Inc. All rights
reserved.
i Nationwide Investment Services Corporation, member NASD. In MI
only: Nationwide Investment Svcs. Corporation.
ii Fortune Magazine, April 2007
