Nationwide Launches its First Fee-Based FIA
July 18, 2017 by Cyril Tuohy
Ohio-based investment and retirement giant Nationwide Financial, seeking to offer advisors more fixed indexed annuity (FIA) choices to sell, launched its first fee-based FIA, the company announced.
Nationwide is merely the latest company to jump into the fee-based annuity pool. Many competitors have done the same over the past year with the advent of a fiduciary rule raising the bar surrounding investment advice.
The Columbus-based company is committed to helping registered investment advisors, or RIAs, and other fee-based advisors meet the needs of their clients in a low-interest-rate environment, said Eric Henderson, Nationwide senior vice president of life insurance and annuities.
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In 2016, indexed annuity sales rose 9.7 percent to a record $58.2 billion compared with 2015, according to Wink’s Sales & Market Report.
