Nationwide Introduces First Fee-based Fixed Indexed Annuity to Trust Company of America’s Liberty Platform
December 11, 2017 by Nationwide
COLUMBUS, Ohio, Dec. 7, 2017 /PRNewswire/ — Nationwide, a leading insurance and financial services organization, and Trust Company of America (TCA), the largest independent provider of integrated technology and custody for registered investment advisors (RIAs), partnered to announce today that the fee-based Nationwide Summit® fixed indexed annuity (FIA) has been added to TCA’s Liberty platform.
Pending DOL regulation has shifted the focus of insured retirement products to fee-based designs, but the initial adoption by RIAs has been slow as fee-based advisors struggle to find a solution to householding this portion of the portfolio and charging a fee on the FIA. The addition of Nationwide Summit to TCA’s Liberty platform addresses both issues, allowing the FIA to be viewed as part of the overall client portfolio and providing the technology to bill on the entire portfolio.
“With equity markets at or near all-time highs and as more clients near or enter retirement, we are seeing a fundamental shift in advisors moving from traditional asset managers to risk managers,” said Nationwide associate vice president of fixed annuity product strategy Mike Morrone. “Summit is perfectly positioned to help protect a larger portion of the client’s portfolio and help improve the risk-adjusted returns.”
“TCA is driven by providing advisors with advanced technological solutions and diverse resources that can help streamline their businesses and expand their offerings,” said TCA president and CEO Joshua Pace. “The addition of Nationwide Summit to the Liberty platform provides advisors with an even more diverse lineup that aligns with our innovative business model and the way advisors run their practices.”
“The ability to seamlessly integrate an FIA into an advisor’s models is a game-changer for RIAs and fee-based planners,” said Nationwide senior vice president of life insurance and annuities Eric Henderson. “We’re excited to bring Nationwide Summit to a technology as innovative as TCA’s Liberty platform.”
The fee-based Summit is exclusively available through the Annexus network of independent distribution companies. Nationwide and Annexus plan to continue to develop additional fee-based products that will help advisors meet an even broader range of client needs.
About Trust Company of America
Since 1972, Trust Company of America (TCA) has been a champion of Registered Investment Advisors, dedicated to helping them realize their full potential. TCA is the only independent RIA custodian offering fully integrated real-time technology, consultative services and back office support built exclusively for RIAs. TCA partners with advisors to provide them the technology and support they need to manage their practices and clients’ financial futures. Learn more at www.trustamerica.com.
Annexus designs solutions to help Americans grow and protect their retirement savings. For over a decade, Annexus has developed market-leading fixed indexed annuities and indexed universal life insurance products. In close collaboration with design partner Genesis Financial, Annexus has forged relationships with the industry’s leading insurance carriers and world’s largest investment banks. Find out more about Annexus and its products at www.annexus.com.
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.
Guarantees and protections are subject to the claims-paying ability of Nationwide Life and Annuity Insurance Company. Nationwide Summit is issued by Nationwide Life and Annuity Insurance Company, Columbus, Ohio.
Neither Nationwide nor its associated companies are affiliated with Annexus and its affiliates.
The J.P. Morgan MOZAICSM Index (USD) (“Index”) has been licensed to Nationwide Life and Annuity Insurance Company (the “Licensee”) for the Licensee’s benefit. Neither the Licensee nor Nationwide SummitSM Fixed Indexed Annuity (the “Product”) is sponsored, operated, endorsed, recommended, sold or promoted by J.P. Morgan Securities LLC (“JPMS”) or any of its affiliates (together and individually, “JPMorgan”). JPMorgan makes no representation and gives no warranty, express or implied, to contract owners taking exposure to the Product. Such persons should seek appropriate professional advice before making any investment. The Index has been designed and is compiled, calculated, maintained and sponsored by JPMS without regard to the Licensee, the Product or any contract owner. JPMorgan is under no obligation to continue compiling, calculating, maintaining or sponsoring the Index. JPMorgan may independently issue or sponsor other indices or products that are similar to and may compete with the Index and the Product. JPMorgan may also transact in assets referenced in the Index (or in financial instruments such as derivatives that reference those assets). These activities could have a positive or negative effect on the value of the Index and the Product.
The “S&P 500” is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Nationwide Life and Annuity Insurance Company (“Nationwide”). Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); DJIA®, The Dow®, Dow Jones® and Dow Jones Industrial Average are trademarks of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Nationwide. Nationwide Summit fixed indexed annuity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500.
Nationwide, Nationwide is on your side, the Nationwide N and Eagle and Nationwide Summit are service marks of Nationwide Mutual Insurance Company. © 2017 Nationwide
Trust Company of America