16:43 PM

Nationwide joins the Envestnet Insurance Exchange to create more opportunities for RIAs, fee-based advisors and the clients they serve

COLUMBUS, Ohio – Registered Investment Advisors (RIAs), fee-based advisors and the clients they serve will benefit from more holistic financial planning through a new collaboration between Nationwide and Envestnet, a leading provider of intelligent systems for wealth management and financial wellness.

Nationwide, one of the largest providers of insurance and financial services products in the U.S., will expand its strong distribution capabilities in the independent channel as one of the few select solutions providers on the Envestnet Insurance Exchange, a new insurance network that integrates insurance solutions into the wealth management process on the Envestnet platform. Envestnet Insurance Exchange is powered by FIDx technology, which integrates the brokerage, insurance and advisory ecosystems to offer best-in-class annuities and insurance solutions from the industry’s leading carriers.

Year over year, holistic financial planning is among the top three factors investors use to choose their advisor, according to Nationwide Advisory Solutions’ annual Advisor Authority study of more than 1,700 RIAs, fee-based advisors and individual investors. As fee-compression is on the rise, and asset management becomes more commoditized, holistic planning is key for the most successful advisors to create a competitive advantage. For many RIAs and fee-based advisors, insurance solutions, including annuities, that fit the way they work is the missing part of their clients’ holistic financial plans—and that means a missed opportunity for growing their practices. Nationwide’s collaboration with Envestnet helps close this gap by allowing advisors access to insurance solutions designed to fit the way they work.

“Joining the Envestnet Insurance Exchange is one more way for us to build on a successful 10-year track record of serving independent advisors the way they want to be served – using the platforms and technology they want to use – to manage insurance holistically alongside the other assets in their clients’ portfolios,” said Craig Hawley, head of Nationwide Advisory Solutions. “Built from the ground up to meet the unique needs of RIAs and fee-based advisors, we have become a dominant player in the independent channel by integrating our fee-based insurance solutions into the practice of more than 5,500 RIAs and fee-based advisors. Backed by the power of our Fortune 100 parent, we continue to focus on ways for Nationwide to expand, innovate and serve the growing ranks of the independent channel.”

Nationwide’s collaboration with Envestnet can make annuities and insurance more accessible for advisors who don’t specialize in selling them and help provide a range of benefits for their clients at every stage of the financial lifecycle—a tool for tax advantaged investing, a source of guaranteed income in retirement, a method for managing risk and a solution for legacy planning.

“As the industry shifts and the number of RIAs and fee-based advisors continues to grow, we’ll continue to create new opportunities to serve more of these advisors and their clients in the ways they prefer to do business,” said Kirt Walker, president and COO of Nationwide Financial. “It’s a tremendous engine for growth going forward.”

Nationwide has made a considerable commitment to the advisory business since the acquisition of Nationwide Advisory Solutions in 2017, as evidenced by recent transitions to relationship manager led structure as a strategic move with firms to address growing interest in expanding within the advisory space.

In addition, Nationwide has created the new role of leader of fee-based product development and has announced that Cathy Marasco will transition into this position from her current role as associate vice president of Nationwide’s annuity and life insurance businesses. Her extensive experience, both with fee-based business and annuity product development, will allow Nationwide to help bring competitive and innovative new products to advisory distribution while maintaining market leadership.

About Nationwide Advisory Solutions

Nationwide Advisory Solutions, formerly known as Jefferson National, is a recognized innovator with a mission to help RIAs and fee-based advisors build their practice by helping their clients to potentially accumulate more wealth and reach their financial goals. Nationwide Advisory Solutions does this by developing and delivering value-added investment products, services and technologies that fit the fiduciary standard—wrapped in an industry-leading customer experience. To learn more, please visit www.nationwideadvisory.com.

Nationwide and its affiliates are not affiliated to Envestnet Insurance Exchange or Fiduciary Exchange, LLC and their affiliates.

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About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.