09:57 AM

Nationwide and Fidelity Investments® establish new distribution relationship

Partnership includes new variable annuity solution designed for growth opportunity, market flexibility and guaranteed lifetime income

Nationwide and Fidelity Investments® are launching a new product for those seeking stability in volatile markets while providing Nationwide access to Fidelity’s network of financial professionals, available through the Fidelity Insurance Network

With approximately 3,400 financial professionals, Fidelity serves its customers through 12 regional sites across the globe and more than 200 Investor Centers. The company has $9.6 trillion assets under administration and $3.6 trillion total discretionary assets as of Dec. 31, 2022.  

“Fidelity is a reputable and well-known firm, and this strategic relationship creates tremendous opportunities for Nationwide and Fidelity to deliver valuable solutions to more customers,” said Tina Ambrozy, senior vice president of Nationwide Financial Strategic Customer Solutions. “We also are excited to partner with a company that so closely aligns with Nationwide’s culture and business goals.”     

As part of the new relationship, Fidelity’s financial professionals are now offering the Nationwide Personal IncomeSM Annuity, a deferred variable annuity designed to provide growth potential, flexibility and guaranteed retirement income for life. It’s a product that may be ideal for clients who are retired, semi-retired or approaching retirement and who want to continue growing their savings with a guaranteed income stream.   

“Nationwide is committed to providing solutions that help financial professionals protect their clients,” said Eric Henderson, President of Nationwide Annuity. “Fidelity will help us expand our reach to serve even more investors, offering a new solution that is well suited for the current economic environment.”   

The annuity includes the Nationwide Retirement IncomeSM Rider. The rider will include lifetime withdrawal rate percentages ranging between 5.25% and 7.65% for Single Life election and will be based on the owner’s age when they take their first withdrawal. The Retirement Income Rider has a 5% simple interest roll-up rate to the income benefit base, which is a guaranteed increase applied to the initial investment each year on the rider anniversary for purposes of calculating the rider payout amount1.  

1 Roll-up rates are guaranteed annual increases to the rider’s benefit base and are credited for the first 10 contract anniversaries, or up until the first lifetime withdrawal, whichever comes first. The benefit base is used to calculate the annual income offered by the rider.