June 14, 2012
Nationwide Introduces Simplified, No-load Variable Annuity for Fee-based Advisors at Wells Fargo
Columbus, Ohio - Building on its long-term partnership, Nationwide Financial today introduced Nationwide Income Architect® Annuity (NIAA) to help fee-based Wells Fargo financial advisors help maximize income potential while helping to reduce risk for clients.
The new product is an individual, flexible premium, deferred variable annuity with a Guaranteed Lifetime Withdrawal Benefit that provides clients with guaranteed retirement income. It does this in the form of a simplified, no-load variable annuity that allows advisors to construct individual fund portfolios for their clients with product and living benefit fees of just 1.0 percent.1
“The introduction of Nationwide Income Architect is a great example of how we like to work with our partner firms to develop solutions for their specific needs.” said Eric Henderson, senior vice president of Individual Products and Solutions for Nationwide Financial. “NIAA is backed by credible research that will make it easy for Wells Fargo Advisors to help clients understand how a variable annuity with guaranteed lifetime withdrawal benefit can complement their existing portfolio.”
Research by Ibbotson Associates, sponsored by Nationwide, finds adding a variable annuity with a guaranteed lifetime withdrawal benefit to a traditional retirement portfolio can increase retirement income potential while helping to decrease income risk.
“This research has opened the eyes of many fee-based advisors who may not have previously appreciated the role a variable annuity can play in client portfolios,” Henderson said. “Ibbotson makes a very compelling case for advisors who are looking for opportunities to enhance income potential for clients, while helping to reduce risk.”
Nationwide Income Architect is a comprehensive product that offers value to clients by way of triple protection: Lifetime income with the ability to cover a spouse; tax deferred growth; and asset allocation with diversification.
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.
About Wells Fargo (Twitter: @WellsFargo)
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
Wells Fargo Retirement is a top retirement provider to retail and institutional customers across the U.S. Wells Fargo ranks second in annuity distribution, fifth in IRA assets and sixth in retirement recordkeeping. The company also administers custody assets, provides investments and executive benefits to institutional clients and delivers reinsurance services to global insurance companies.