“Nationwide is proud to continue its history of innovation in the annuity industry alongside our product development partner, Annexus, and our investment partner, Capital Group, the world’s largest global active investment manager. After delivering the first registered-index linked annuity (RILA) offering strategies linked to an actively managed fund, we’re excited to build on that momentum within our FIAs,” said Stacy LaiFook, vice president of Nationwide Annuity Business Development. “This expansion brings financial professionals and their clients new opportunities for growth potential within a risk-managed solution that offers 100% principal protection from market losses.”  

American Funds Growth Fund of America is an actively managed mutual fund that offers a flexible approach to growth investing. The fund seeks opportunities in traditional growth stocks as well as cyclical companies and turnaround situations with significant potential for growth of capital. Growth Fund of America distinguishes itself through Capital Group’s distinct multi-manager system, with a team of 12 portfolio managers averaging 26 years of experience.

Enhancements include two additional indices
Additionally, two more indexes are being added to the Nationwide New Heights Select suite: the S&P 500^® Distance Stabilizer Index³ and the GS American Funds^® GFA 15% Index.

• The S&P 500 Distance Stabilizer Index – developed in collaboration with Société Générale – dynamically adjusts its exposure to the S&P 500 without relying on fixed volatility targets, bonds or commodities, helping provide greater stability over time.
• The GS American Funds^® GFA 15% Index is based on the performance of The Growth Fund of America and applies a dynamic risk-adjustment overlay capping volatility at a level of 15%. An intraday trading strategy is designed to respond more quickly to changes in market volatility.

"Over 12 years of partnership with Nationwide, we have consistently pushed the boundaries to deliver more consumer value in Nationwide New Heights Select FIAs," said Ron Shurts, CEO and Co-Founder of Annexus. "These enhancements — including our continued collaborations with industry leaders Capital Group, Goldman Sachs, and S&P Dow Jones Indices — reflect our commitment to delivering first-to-market innovation and meaningful outcomes for advisors and their clients."

Additionally, Nationwide recently increased the compound, annual roll-up rate on the Nationwide High Point 365 Select Lifetime Income rider with Bonus from 9.5% to 10%⁴. With this change, Nationwide New Heights Select 8, 9, and 12 now offer the highest level of guaranteed lifetime income since their inception.

Financial professionals interested in Nationwide New Heights Select FIAs should contact their Nationwide wholesaler or Annexus-affiliated independent distribution company. Individual investors interested in learning more about the benefits of New Heights Select should contact their financial professional or visit www.nationwidenewheights.com. 

¹ American Funds Growth Fund of America – Class F-3 is not a market index. It is a mutual fund, and its index value reflects the mutual fund’s total return. If a mutual fund-linked index strategy is selected for investment, you will not be investing in the linked mutual fund. You will not be a shareholder or beneficial owner of the fund, and you will have no rights with respect to the fund.
² Based on research conducted on 8/14/2026 from Wink.
³ S&P 500 Distance Stabilizer TCA Index (USD) ER
⁴ 10% compound annual roll-up rate available on Nationwide New Heights Select 8, 9 and 12.

LIMRA’s mid-year Life Insurance Sales Survey shows a life industry that is continuing to grow, although at a slower pace than last year. Total U.S. individual life insurance new annualized with excess premium rose 3% year over year to $4.7 billion in the second quarter of 2026. The number of policies sold increased 8% in the second quarter, powered by whole life and variable universal life.

Holly Snyder, president of Nationwide Life Insurance, shared her perspective on the trends shaping industry performance and financial professional behavior in the first half of the year, as well as her outlook for the balance of the year.

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08/2026

Best Traditional Variable Annuities
Monument Advisor® and Nationwide Advisory Retirement Income Annuity® (NARIA®) earned top spots in Barron’s Best Traditional Variable Annuities for Tax-Deferred Savings category. This recognition reinforces Nationwide’s leadership and depth in the Advisory market, where its fee-based annuity platform continues to stand out for delivering competitive, advisor-focused solutions that support tax-deferred growth, investment flexibility and retirement income planning. The publication calculated the rankings by comparing annuities used for accumulating assets on a tax-deferred basis and invested in underlying mutual fund-like subaccounts. Barron’s analyzed features like annual contract fees, average subaccount expenses, surrender charges, total options and five-year annual returns.

Best Variable Annuity Income Guarantees
Barron’s also recognized Nationwide Destination® Navigator 2.0 with the Nationwide Lifetime Income Rider+® Core (Nationwide L.inc+® Core) in the Best Variable Annuity Income Guarantees category. The product’s key strength is its ability to pair investment flexibility with guaranteed lifetime income, helping clients create protected retirement income while maintaining exposure to market-based growth opportunities. The publication selected products on this list based on those who offered the highest payout for contracts with no more than a seven-year surrender period.

Best Annuities for Guaranteed Income
Additionally, Nationwide’s single premium income annuities (SPIAs) ranked among the top products in the Best Annuities for Guaranteed Income category, demonstrating how immediate annuities have evolved beyond simple income guarantees. In addition to converting retirement assets into lifetime income, the product offers features that support broader retirement and estate-planning objectives. For example, flexible payout and beneficiary options can help clients balance income security with legacy goals, while liquidity provisions provide flexibility not commonly associated with traditional SPIAs. Barron’s determined rankings in this category by comparing annual income for life, annual payout rate and total income by age 90.

“Today’s volatile economic landscape can create uncertainty for investors, but it’s also highlighting the power of protection, predictability and long-term planning,” said Kush Kotecha, president of Nationwide Annuity. “Annuities’ combination of tax-deferred accumulation, income guarantees and protection from market uncertainty are resonating with investors, helping them stay focused on their long-term goals and creating financial resilience as interest rates and market dynamics continue to shift.”

Nationwide is a top 10 seller of annuity products in the United States¹, offering advisors and their clients a range of solutions to support accumulation, income and long-term retirement planning goals. Learn more about Nationwide annuities at https://www.nationwide.com/personal/investing/annuities/.

¹ LIMRA U.S. Individual Annuity Sales Survey, 1Q 2026
Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

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07/2026

• While three quarters of non-retired investors are concerned about a recession, a growing number are planning to take advantage of investment opportunities now
• This mix of action and anxiety creates risk for three in ten non-retired investors who do not have a strategy in place to protect against market volatility
• Advisors are leaning into protection solutions to balance clients’ growth and risk management needs

COLUMBUS, Ohio – Inflation and market volatility have created one of the most complex financial environments in recent memory, causing more than three in four (77%) non-retired investors to be concerned about a U.S. economic recession over the next 12 months. However, recent data from the Nationwide Retirement Institute reveals that rather than retreating, a growing number of Americans are leaning in.

The study shows a notable shift from caution to action, with investor activity at some of the highest levels tracked across the study. One in three (33%) non-retired investors say they will change their retirement savings approach over the next 12 months by planning to take advantage of investment opportunities now, up from 21% in the summer of 2024. More than one in five (22%) say they plan to manage their investments more aggressively, up from 16% in 2024.

The data also shows an emerging sense of stabilization in retirement planning, even as concerns remain elevated. Just 15% of non-retired investors say they plan to retire later than planned, down from a peak of 22% in 2024. The number of investors who don't know if they will ever be able to retire (11%) is down from a high of 16% in 2024.

"Investment markets reached all-time highs this summer in the face of elevated volatility, reflecting a shift in how investors are interpreting uncertainty. Rather than viewing volatility as a signal to step aside, many may be viewing it as an opportunity to be offensive versus the historic instinct to turn defensive,” said Mark Hackett, chief market strategist for Nationwide’s Investment Management Group. “We're seeing them use these periods of volatility to rebalance, diversify and position themselves for future growth, recognizing that participation, not timing, is often the key driver of long-term outcomes.”

Many Investors Still Lack a Plan
Even as investors show increased confidence and a growing willingness to take action in a volatile environment, many still do not have formal strategies in place to protect their retirement savings.

Nearly three in ten (29%) non-retired investors say they do not currently have a strategy in place to protect their assets against market risk, and one in ten (10%) non-retired investors say they are not sure if they do, pointing to a need for clearer and more frequent conversations between advisors and clients about what is actually in place.

Advisors are leaning into protection solutions
Advisors who say they have a market risk protection strategy in place for their clients are evolving their use of retirement solutions in line with the current environment. Six in ten (60%) advisors say the events of the last 12 months have made them more likely to recommend a guaranteed income solution as part of a client’s portfolio. Use of registered index-linked annuities (RILAs) among advisors with a market risk protection strategy has grown from 39% in the summer of 2023 to 52% in 2026, a 13 percentage-point increase over three years.

Data suggests that advisor momentum toward guaranteed income solutions is meeting a receptive audience with clients. More than half (57%) of non-retired investors say recent events have made them more likely to put part of their portfolio in an annuity or other guaranteed income solution.

Advisors are also tracking a number of potential threats to clients’ long-term plans. Nearly a quarter (24%) say the cost of healthcare is among the most immediate challenges to their clients' retirement portfolios. They’re also tracking systemic risks to the programs and policies clients have long planned around. More than half (55%) of advisors say they believe Social Security or Medicare funding will be reduced, with 40% specifically citing Social Security solvency as a concern. Additionally, nearly three in five (58%) advisors expect the future tax burden for clients to increase. 

"Advisors can play a critical role in helping clients balance growth and protection by building strategies that don't force an either-or decision," said Brad Carrier, vice president of Nationwide Annuity Distribution. "Through asset allocation, diversification and the use of solutions like annuities that incorporate downside protection, advisors can help clients stay invested during periods of volatility while managing the emotional and financial risks that sometimes lead to hasty decisions."

For more insights on this survey data, see our infographic.

This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.

Nationwide's Retirement Institute survey, formerly known as the Nationwide Advisor Authority survey, explores critical issues confronting advisors, financial professionals and individual investors, and the innovative techniques that they need to succeed in today's complex market.

About Nationwide Retirement Institute Survey: Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 528 Advisors and Financial Professionals and 2,012 investors ages 18+ with investable assets (IA) of $10K+, from January 15-February 6, 2026. Among the investors, there were 1,411 non-retired investors and 691 retired investors.

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.3 percentage points using a 95% confidence level. For investors data is accurate to within ± 2.9 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.  For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com.

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

Nationwide serves as recordkeeper for California Savings Plus and New York State Deferred Compensation Plan (NYSDCP), both of which were Top 3 finalists for 2026 Plan Sponsor of the Year in the Government DC>$1B category.

California Savings Plus was recognized for its sweeping modernization effort and investment lineup reforms that save participants more than $24 million annually in fees.

NYSDCP’s nomination stood out for the scale and precision of its major fund lineup review and a $16.3 billion transition affecting 175,000 accounts with no reported downtime or incidents.

Also during the awards program, Nationwide Retirement Solutions associates Lauren Kime, Zack Sharp and Jake Sours were honored as 2026 PLANSPONSOR Service Stars. The Service Stars program recognizes retirement plan account representatives and relationship managers who, according to their plan sponsor clients, have demonstrated exemplary service.

“Congratulations to California Savings Plus, NYSDCP and our Service Star associates Lauren, Zack and Jake on earning these prestigious industry recognitions,” said Kevin Jestice, president of Nationwide Retirement Solutions. “All of these honors reflect our collective dedication, innovation and participant-first focus to help drive stronger retirement outcomes every day.”

Nationwide Retirement Solutions is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide Retirement Solutions helps secure financial futures for approximately three million participants in 30,000 retirement plans with $250 billion in assets, across full-service recordkeeping, investment solutions, and pension risk transfer¹. Nationwide remains No. 1 in public 457 plans (based on the number of plans)² with an average tenure of 29 years¹. The company also continues to maintain significant presence in private 401(k), nonprofit 403(b) markets, and pension risk transfer.

For 50 years, Nationwide has remained committed to continually improving its retirement solutions and service experience to better support individuals preparing for and living in retirement. The company offers a diversified portfolio of solutions that complement its traditional recordkeeping and education services. Nationwide’s goal is to help participants prepare for retirement by providing investment solutions and services designed to support long-term growth, risk management and income planning. These offerings include mutual funds, managed accounts, pension risk transfer capabilities, fixed and stable value solutions, and lifetime income options.

Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan participants. 

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¹ Nationwide Financial (Dec 31, 2025)
² PLANSPONSOR 2025 Recordkeeping Survey

Nearly all (95%) women investors with advisors agree their advisor treats them with the same respect as male investors, including over two-thirds (68%) who strongly agree. Even so, there is room for advisors to grow when it comes to how that respect shows up in everyday conversations. Three in 10 (29%) women investors with advisors say their advisor sometimes ‘mansplains’ concepts to them in a way they don’t always appreciate.

Women investors are not questioning whether their advisor cares. Rather, they are signaling where there is an opportunity to communicate better. About one in three (34%) women investors say they find their advisor condescending when explaining recommendations or responding to questions. About the same amount (32%) say their advisor assumes they know less about finances than they actually do.

“I believe advisors have the best intentions when they are trying to break down financial topics with their women clients, however it’s important to recognize that what may be intended as a helpful explanation can land as dismissive or condescending,” said Suzanne Ricklin, senior vice president of Nationwide Retirement Solutions Distribution. “Our survey makes it clear many women investors don’t want to be talked at, they want to engage in a discussion and have a conversation around their needs. Advisors should ask thoughtful questions to get to the root of their client's needs, do the research to be well-versed in the unique issues women are facing and listen to understand each client's unique goals and perspectives. When advisors shift their emphasis from explaining to asking questions and listening to what is most important to their women clients, they can build stronger relationships and more aligned goals.”

Women investors seek education amid uneasy macro outlook
The need for financial guidance feels as urgent as ever for women investors. Navigating a distinct set of financial pressures, many are looking ahead with a mix of determination and unease, and with a clear appetite for support.

That unease is grounded in real economic and retirement worries. A clear majority (77%) of women investors are concerned about a U.S. economic recession. Only four in 10 (39%) non-retired women investors say they are on track to retire about the same time as they previously planned, while more than one in 10 (14%) don’t know if they’ll ever be able to retire.

What women investors do know is what kind of help they are looking for. Their preferences point to a consistent theme: they want to be active participants in their financial planning, not passive recipients of advice:

• More than two in five (44%) women investors prefer to fully understand their options before making decisions.
• 34% of women investors prefer to work with a financial professional to guide their financial planning.
• 21% of women investors seek out educational resources to help them understand financial strategies.

“Women told us they want clarity and context. Advisors can put that into action by taking time to fully lay out options and inviting questions during conversations,” Ricklin said. “By encouraging open dialogue about what is important to them, you’ll ensure your women clients’ priorities are being heard and addressed.”

Women advisors are leading the way with tailored service
Women advisors are approaching women clients differently than their male peers. When taken together, nearly all (99%) women advisors indicate they have taken specific actions to better serve women clients, including:

• Nearly half (47%) of women advisors have developed strategies specifically for women going through major life transitions, compared to just 34% of men advisors.
• More than two in five (43%) women advisors have increased their focus on protection and guaranteed income solutions, compared to just 35% of men advisors.
• A similar share (44%) of women advisors have studied the unique retirement challenges women face (e.g., longevity, caregiving, wage gaps), compared to just 38% of men advisors.
• More than a third (36%) of women advisors have completed training or education on financial planning for women, compared to just 29% of men advisors.
• Two in five (40%) women advisors have sought feedback from women clients on how they can better serve them, compared to just 35% of men advisors.

Across each of these key measures, women advisors are more likely to have taken the specific steps that women investors say matter most. Male advisors looking to strengthen their relationships with women clients may benefit from incorporating the best practices of their women colleagues.

“Our survey found that many women advisors are structuring conversations around personalization and intentionality, taking the time to understand their client’s retirement goals and aspirations. That approach builds trust and makes financial planning feel empowering rather than transactional,” Ricklin said. “Male advisors can increase their success with women investors by evolving their approach throughout the client engagement process, incorporating additional questions and discussion opportunities for their women clients.”

While some advisors may overestimate their skill set, others lean into opportunities
Advisors feel confident they recognize the needs of their women clients. More than nine in 10 (91%) advisors rate themselves as skilled at meeting the specific needs and expectations of women clients, and a similar share (95%) say they have already taken specific actions to better meet those needs.

Despite near-universal confidence in their own abilities, fewer than four in 10 advisors (37%) say they actually understand their women clients' financial and retirement goals. Only 38% say they understand the impact of the unique financial challenges women face, such as longer lifespans, caregiving responsibilities and wage gaps. 

In practice, just one in four advisors (25%) say they have received formal training on the unique financial challenges women face, pointing to a meaningful disconnect between self-assessed skill and professional development. This suggests that for many advisors, confidence has outpaced preparation.

Still, a significant number of advisors recognize the opportunity and are taking steps to close the gap. Four in 10 (40%) say they prioritize building a human connection and demonstrating genuine care with their women clients, and an equal share (40%) say they take time to educate their women clients on financial strategies and ensure they truly understand their options. Another 26% say they actively adjust their communication style to avoid being condescending.

“Women are controlling more wealth, yet many still feel underserved by the industry – exposing a critical opportunity for advisors,” Ricklin said. “By creating a more inclusive, collaborative experience that prioritizes listening, education and partnership, advisors can build trust with their women clients, encouraging them to stick around for the long-term, refer others and ultimately grow their practice. A great way for advisors to ensure they are hitting the mark is to ask for direct feedback from women clients about their communication preferences and what approaches they find most helpful in their decisioning.

Ricklin offers this advice to women investors trying to find a good financial advisor: “There is no substitute for a great referral. Ask your friends and family about the experience they have had working with their advisors. That may be the best indication that a particular advisor would be a good fit and can help with your specific needs.”

For more insights on this survey data, see our infographic.

Nationwide’s Retirement Institute^® survey, formerly known as the Nationwide Advisor Authority survey, explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

Nationwide Retirement Institute Survey Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 528 advisors and financial professionals and 2,012 investors ages 18+ with investable assets (IA) of $10K+, January 15-February 6, 2026. Among the investors, there were 882 women investors and 421 women investors working with a financial professional. Among the advisors, there were 119 women advisors.

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.3 percentage points using a 95% confidence level. For investors data is accurate to within ± 2.98 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.  For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com.

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

Six in 10 (60%) Millennials (age 30-45) with financial professionals say they would welcome their advisor facilitating financial planning conversations among family members, compared to just 32% of Gen X (age 46-61) and only 16% of Baby Boomers and older (62+) who feel the same. Nearly half of Baby Boomers and older (46%) say they prefer to keep these conversations private, compared to just 10% of Millennials.

The stakes behind this divide are significant. Among Baby Boomers, 64% are actively transferring or planning to transfer wealth in the future, including 15% who are doing so right now. At the same time, this group continues to age, making the need for family alignment around their wishes and needs an issue that could be more urgent than some recognize. Notably, less than a quarter of Gen X and Baby Boomer investors (22% and 24%, respectively) have discussed with their next of kin how they can be prepared to help manage their finances when they become unable to do so.

“For many retirees, it can seem like everything is under control – until things change, which can happen fast,” said Juan José Pérez, senior vice president of Strategic Customer Solutions for Nationwide. “That’s when you need loved ones to not only understand the plan but also be ready to play their part. Older generations have an opportunity to help their family understand their wishes for the future and be better prepared to step in and help when the time comes. While private family conversations are a good place to start, a family meeting with an advisor at the table can accelerate a family’s ability to ensure a smooth, efficient and dignified transition.”

Half of investors are talking finances, while half put it off
When it comes to private conversations (without an advisor), investors are split on discussing finances as a family, with many not doing so at all. More than half (53%) of investors say they have had conversations with relatives (e.g., adult children or aging parents) about how they are planning for financial security in retirement in the past 12 months. Yet nearly half (47%) have not had these conversations — including 17% who say they don't think they’re necessary.

That reluctance is most pronounced among older generations. More than a quarter of Baby Boomers (27%) say it's not necessary: compared to just 8% of Gen Z, 12% of Millennials, and 14% of Gen X. Gen Z, by contrast, is the most likely to be planning ahead: 32% say they plan to have the conversation but haven't yet.

For older investors who do have conversations with family members, key priorities emerge:

• Half of Baby Boomers and older investors (50%) have shared their wishes for end-of-life care with their family.
• More than four in 10 of all Gen X and older investors (42%) have discussed access to their financial accounts, including 34% of Gen X and 47% of Baby Boomers and older investors.
• Nearly four in 10 (39%) of all Gen X and older investors have shared plans for passing on assets.

"When an older adult you’ve depended on your whole life for wisdom and stability suddenly becomes unable to manage their finances or care for themselves, it can feel like an instant crisis for many families,” Perez said. “It doesn’t have to be that way. Intergenerational conversations can help create a shared roadmap for how a family can come together to follow through on their loved one’s wishes if and when the time comes to do so.”

Advisors are ready to facilitate difficult conversations
Confident in their ability to navigate sensitive family dynamics, advisors are supporting families through difficult financial conversations. Nine in ten (90%) advisors say they currently facilitate conversations between aging clients and their adult children about retirement planning, healthcare costs, or financial security, including 43% who say it's a standard part of their practice. Most (91%) advisors say they are confident in their ability to facilitate sensitive family conversations with their clients.

Advisors are evolving their practices for a multi-generational approach
With most Baby Boomers having crossed the retirement threshold, nearly one in five advisors (17%) say their biggest concern about the long-term sustainability of their practice is client demographics, attracting new clients as older clients approach the end of their lives.

Advisors are taking deliberate action to better serve younger clients. Among advisors who work with clients under 45, the top approach to adapting their practice to serve across generations is focusing on retaining the family of existing clients via relationship building (27%). Additionally, a quarter of advisors (25%) say they are expanding their service offerings to be more holistic, rather than focusing on an investment-only approach.

“One of the biggest opportunities for advisors isn’t finding the next client – it’s deepening relationships with the families they already serve. It’s great to see advisors recognizing this and making it a focus. Advisors who intentionally bring family members into financial conversations, offer education around wealth transfer and stay present during major life events are far more likely to preserve trust and maintain continuity across generations, growing their practice as a result.”

Perez offered these tips to help families structure financial planning conversations with or without an advisor:

1. Start with wishes: Talk first about what matters most: End-of-life wishes, health and long-term care preferences, funeral plans, legacy goals, and how individuals want decisions made if they can no longer speak for themselves.
2. Make a plan for “if I need help:” Older parents should explain where key information lives — bank accounts, insurance policies, passwords, advisor contact information, legal documents, monthly bills, and emergency contacts — so adult children can step in quickly if needed. Agree on who would help, when they would step in, and what authority they would need.
3. Get the legal basics in place early: A conversation about money should include whether important documents are in place, including a will, power of attorney, healthcare power of attorney and any beneficiary designations. The goal is to reduce confusion, family stress, and delays later.
4. Share lessons learned across generations: Older savers can pass on the habits that helped them most — sharing tips related to living within their means, saving consistently, avoiding unnecessary debt, planning for emergencies, and thinking long term. Adult children can also highlight the financial challenges they may be facing. Parents are likely to have great advice or lessons learned that can benefit their younger loved ones today.
5. Make it an ongoing conversation, not a one-time event: The best family money talks are honest, respectful, and repeated over time. End the discussion with clear next steps: what documents to gather, what decisions need follow-up, and when to check in again.

For more insights on this survey data, see our infographic.

Nationwide’s eleventh annual Advisor Authority study, powered by the Nationwide Retirement Institute® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology 
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 528 advisors and financial professionals and 2,012 investors ages 18+ with investable assets (IA) of $10K+, January 15-February 6, 2026. Among the investors, there were 1,041 with a financial professional, 179 Gen Z (age 18-29), 605 Millennials (age 30-45), 482 Gen X (age 46-61), and 746 Baby Boomers and older (age 62+).

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.3 percentage points using a 95% confidence level. For investors data is accurate to within ± 2.98 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.  For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com.

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

The study found Americans are bracing for a higher tax burden in retirement, yet most are not engaging in proactive, year-round tax planning to mitigate their exposure. Four in five (80%) investors broadly expect taxes to rise in the future, yet less than one-third (31%) of this cohort are proactively adjusting their financial plan accordingly.

Additionally, 17% of investors say not knowing the best tax strategies for their portfolio or understanding tax implications (14%) before retirement withdrawals are among their biggest concerns when planning for retirement.

"Our study highlights that for most investors, tax anxiety is real – however, their plan to address it is lacking,” said Kush Kotecha, president of Nationwide Annuity. “A majority of investors are telling us they're concerned about rising taxes, but only a fraction are taking steps to prepare their portfolios. That gap between worry and action is where real financial risk can build."

For many investors, tax planning starts and ends with tax season
Despite widespread concern about taxes, most investors are not engaging in proactive, year-round tax planning. More than one-third (34%) say they mostly pay attention to taxes during "tax season," and only one in four (26%) engage in ongoing, proactive tax management all year.

Among investors who work with a financial advisor, 29% say they count on their advisor to help them plan for taxes in retirement. However, just 37% of these investors say their advisor proactively discusses tax planning strategies or tax policy changes as part of regular review meetings. More than one in 10 (11%) say discussions happen only when major tax law changes occur or when they specifically ask about tax matters (11%). For most investors, this means tax planning only comes up when something forces the conversation.

“Advisors should make taxes a part of regular client discussions,” Kotecha said. “Investors with an advisor who are not receiving regular guidance on this important topic should ask for it or consider looking for a financial professional who will help them prioritize tax-efficient retirement planning.”

Tax strategies are not one-size-fits-all, but some investors are flying blind
Less than half (44%) of investors surveyed say their portfolio is a combination of taxable, tax-deferred, and tax-free assets – likely indicating good tax diversification. Others surveyed indicated heavier reliance on a single taxable class of assets. A meaningful share of investors (13%) don’t know how to describe their portfolio’s tax composition.

“It's not surprising to find investor portfolios come in all shapes and sizes when it comes to tax exposure, and it's important to recognize that there is no 'one-size-fits-all' approach," said Kotecha. "However, those without awareness of their portfolio’s tax profile or a strategy for managing the mix of taxable asset classes in their portfolio risk missed opportunities or unforced errors that could haunt them in retirement. Personalized, advisor-led planning is essential to help investors understand how their unique mix of assets will be taxed, both now and in retirement."

Advisors say they are helping clients take action
While nearly half (45%) of advisors say their clients have a risky mix of taxable asset classes, the vast majority (85%) say they're working with their clients to help them diversify their tax profile within their portfolio.

With taxes expected to rise, advisors are also increasingly steering clients toward tax-efficient income solutions. More than half (60%) of advisors say given the events of the last 12 months, they are more likely to recommend a client put part of their portfolio into an annuity or other solution that provides guaranteed income.

"Advisors are recognizing that annuities can be a powerful tool when it comes to reshaping the tax profile of a portfolio. By allowing assets to grow tax-deferred, annuities can help reduce the drag of taxes on long-term returns and create a more efficient income strategy in retirement," said Kotecha. "That efficiency matters for retirees who need predictable income and want more control over how and when they pay taxes. In an environment where every dollar of after-tax income counts, annuities can offer a sense of stability and security that's increasingly hard to find."

The Nationwide Retirement Institute offers this guide to help investors think about planning for a tax-efficient retirement.

For more insights on this survey data, see our infographic.

Nationwide’s eleventh annual Advisor Authority study, powered by the Nationwide Retirement Institute^® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 528 advisors and financial professionals and 2,012 investors ages 18+ with investable assets (IA) of $10K+, January 15-February 6, 2026. Among the investors, there were 1,041 with a financial professional, 971 without a financial professional, 300 High Net Worth (IA of $1M-$4.99M), and 504 Less Affluent ($10K to <$100K).

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.3 percentage points using a 95% confidence level. For investors data is accurate to within ± 2.98 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.  For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com. 

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

A recent report from LIMRA highlighted that new annualized life industry premium topped $17.5 billion, breaking records in 2025. Holly Snyder, president of Nationwide Life Insurance shared her thoughts on an outstanding year for the life industry and Nationwide – as well as what she expects in the year ahead.

More information on Nationwide Life Insurance
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As was widely anticipated by many industry analysts, pension risk transfer (PRT) activity ended 2025 lower than 2024, posting sales of $49 billion, a 6% decrease year-over-year, according to LIMRA’s U.S. Group Annuity Risk Transfer Survey. Market volatility, elevated litigation concerns and escalating trade wars impacted the market, and while these headwinds will remain in 2026, Nationwide’s head of PRT Paula Cole anticipates plan sponsors will begin to feel more comfortable moving forward with PRTs this year, particularly as buy-in transactions become more popular. Cole broke down the trends expected to impact the market in 2026 and discussed what plan advisers and their plan sponsor clients can do now to prepare for success this year.

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For more than three decades, the annual LSEG Lipper Fund Awards have recognized funds and fund management firms that excel in delivering consistent, dependable investment results relative to their peers. Based on Lipper’s proprietary methodology, the awards reflect an independent, global assessment of performance across more than 17 countries.

“Recognition from Lipper is a testament to the strength of our investment teams and the disciplined framework Nationwide puts behind every strategy,” said Joseph Aniano, leader of Nationwide’s Investment Management Group. “Advisors and plan sponsors rely on us to deliver competitive risk adjusted returns through sub-advisor selection and oversight. These awards reinforce our commitment to helping investors achieve long-term success with clarity and confidence.”

With a 10-year track record of outperformance¹, the Nationwide Strategic Income Fund (NWXGX) is a flexible multisector fixed-income strategy designed to deliver a high-level of current income while maximizing total return. Since its inception, the Fund has navigated market shifts to consistently outperform its peer group earning a first percentile ranking in the Morningstar multisector bond category.

The Nationwide International Small Cap Fund (NWXUX) seeks to reduce volatility and preserve long-term return potential. The Fund helps expand a portfolio’s international exposure to capitalize on inefficiencies found within the foreign small- and mid-cap markets.

“The 2026 LSEG Lipper Fund Awards mark another volatile three-year stretch for global markets. The managers we’re recognizing have guided investors through an environment where base rates have spiked, then diverged, as central banks navigated new and challenging inflationary landscapes, alongside uneven global growth, and heightened geopolitical risk. Whether managers entered the market in the era of easy money or have navigated cycles for decades, the recent period made one thing plain: durable results come from a disciplined process, not prediction,” said Otto Christian Kober, head of Lipper Research, LSEG Data & Analytics. “We applaud the 2026 LSEG Lipper Fund Award winners for delivering outperformance and the steady reassurance of consistency through changing market conditions.”

Nationwide Investment Management Group (IMG) is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. IMG offers a curated menu of sub-advised investment solutions that seek superior long-term risk adjusted returns. IMG holds its managers to the highest performance standards through uncompromising oversight and provides ongoing market, economic and investment insights to help investors identify opportunities, manage risk and stay informed. 

Learn more about the services Nationwide Investment Management Group provides. 

¹For the since inception period 11/2/2015 and ending 2/28/2026 out of 241 funds in the multisector bond category. Rankings for additional periods: 46th for the 1-year out of 350 funds, 17th for the 3-year period out of 332, 1st for the 5-year period out of 299 funds, 1st for the 10-year period out of 208 funds.

This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.

Call 800-848-0920 to request a summary prospectus and/or a prospectus, or download prospectuses at nationwide.com/mutual-funds-prospectuses.jsp. These prospectuses outline investment objectives, risks, fees, charges and expenses, and other information that you should read and consider carefully before investing.

KEY RISKS: The Nationwide Strategic Income Fund is subject to the risks of investing in fixed-income securities, including high-yield bonds (which are more volatile). The Fund may invest in corporate loans (which have speculative characteristics and are high risk). The Fund also is subject to the risks of investing in foreign securities (currency fluctuations, political risks, differences in accounting and limited availability of information, all of which are magnified in emerging markets). The Fund may concentrate on specific sectors or countries, subjecting it to greater volatility than that of other mutual funds. The Fund may invest in more-aggressive investments such as derivatives (many of which create investment leverage and illiquidity, and are highly volatile). The Fund may invest in sovereign debt (a governmental entity may delay or refuse to pay interest or repay principal). Funds that invest in high-yield securities are subject to greater default risk, liquidity risk, and price fluctuations than funds that invest in higher-quality securities. The prices of high-yield bonds tend to be more sensitive to adverse economic and business conditions than are higher-rated corporate bonds. Increased volatility may reduce the market value of high-yield bonds. They are also subject to the claims-paying ability of the issuing company. The Fund's holdings may subject the Fund to liquidity risk, making it more volatile than other mutual funds. Please refer to the most recent prospectus for more detailed information.

KEY RISKS: The Nationwide International Small Cap Fund is subject to the risks of investing in equity securities (including small companies). Smaller companies are usually less stable in price and less liquid than larger, more established companies. Smaller companies are more vulnerable than larger companies to adverse business and economic developments and may have more limited resources. Therefore, they generally involve greater risk. The Fund also is subject to the risks of investing in foreign securities (currency fluctuations, political risks, differences in accounting and limited availability of information, all of which are magnified in emerging markets). The Fund may invest in more aggressive investments such as derivatives (many of which create investment leverage and illiquidity and are highly volatile). The Fund's holdings may subject the Fund to liquidity risk, making it more volatile than other mutual funds. The Fund uses both a growth style and a value style of investing, and may underperform other funds that use different investing styles. Please refer to the most recent prospectus for a more detailed explanation of the Fund's principal risks.

Morningstar rankings are based on average annual returns. Morningstar percentile rank is a standardized way of ranking items within a peer group, in this case, funds with the same Morningstar Category. The observation with the largest numerical value is ranked one; the observation with the smallest numerical value is ranked 100. The remaining observations are placed equal distance from one another on the rating scale. Note that lower percentile ranks are generally more favorable for returns (high returns), while higher percentile ranks are generally more favorable for risk measures (low risk).

The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, their accuracy is not guaranteed by LSEG Lipper.

About LSEG Lipper Fund Awards: For more than 30 years and in over 17 countries worldwide, the highly-respected LSEG Lipper Awards have honoured funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance relative to their peers and focus the investment world on top-funds. The merit of the winners is based on entirely objective, quantitative criteria. This coupled with the unmatched depth of fund data, results in a unique level of prestige and ensures the award has lasting value. Renowned fund data and proprietary methodology is the foundation of this prestigious award qualification, recognizing excellence in fund management. Find out more at www.lipperfundawards.com.

Nationwide Funds distributed by Nationwide Fund Distributors LLC (NFD), member FINRA, Columbus, Ohio. Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio. NFD and NISC are not affiliated with any subadviser contracted by Nationwide Fund Advisors, with the exception of Nationwide Asset Management, LLC and are not affiliates of Morningstar, Inc.

Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2026 Nationwide

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Nationwide Retirement Solutions announced that Ed Malone has been promoted to associate vice president, Protected Retirement Sales where he will drive investment-only and Nationwide recordkeeping sales across the company’s suite of protected retirement solutions. Malone reports to Cathy Marasco, Vice President, Protected Retirement. 

Malone, who was elevated from his previous position as director of sales for Protected Retirement, has been solely focused on Protected Retirement product distribution since 2020. 

As associate vice president, Malone will expand investment-only distribution by strengthening strategic partnerships with key recordkeepers and platforms. He will also continue partnering closely with Nationwide’s distribution leaders and field teams to drive plan and participant adoption that supports improved retirement outcomes for the participants in the plans where Nationwide is the recordkeeper.

“Over the last several years, Ed has been dedicated to expanding access to Nationwide’s Protected Retirement solutions and enhancing the company’s focus on helping participants turn their savings into guaranteed retirement income,” said Marasco. “His leadership in championing Nationwide’s Protected Retirement story with key audiences has helped position the company as a recognized leader in delivering in-plan lifetime income and principal protection.”

Nationwide Retirement Solutions helps secure financial futures for approximately three million participants in 30,000 retirement plans with $250 billion in assets, across full-service recordkeeping, investment solutions, and pension risk transfer¹. Nationwide remains No. 1 in public 457 plans (based on the number of plans)² with an average tenure of 29 years¹. The company also continues to maintain significant presence  in private 401(k), nonprofit 403(b) markets, and pension risk transfer.

For 50 years, Nationwide has remained committed to continually improving its retirement solutions and service experience to better support individuals preparing for and living in retirement.  The company offers a diversified portfolio of solutions that complement its traditional recordkeeping and education services. Nationwide’s goal is to help participants prepare for retirement by providing investment solutions and services designed to support long-term growth, risk management and income planning. These offerings include mutual funds, managed accounts, pension risk transfer capabilities, fixed and stable value solutions, and lifetime income options.

Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan participants. 

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¹ Nationwide Financial (Dec. 31, 2025)
² PLANSPONSOR 2025 Recordkeeping Survey

The Customer Experience Excellence Award recognizes firms that deliver exceptional customer experiences across multiple dimensions of service, communication, and digital interaction. The Plan Participant Service Award recognizes exceptional call center service to retirement plan participants. Nationwide also received the EXCELLENT designation for Mobile Sites Retirement Plans, further underscoring the company’s dedication to top-tier service across multiple channels, including online mobile interfaces.

“Retirement plan participants place tremendous trust in us, and exemplary service is central to honoring that responsibility," said Carah Brody, Vice President of Business Operations for Nationwide Retirement Solutions. "These recognitions validate the intentional investments we’ve made in our people, our processes, and our digital experiences to create interactions that are clear, responsive, and truly participant focused. We will continue to raise the bar on participant service and experience because it's central to our goal to help more savers prepare for and live a dignified retirement.”

DALBAR, Inc. is the financial community’s leading independent expert for evaluating, auditing and rating business practices, customer performance, product quality and service. Launched in 1976, DALBAR has earned the recognition for consistent and unbiased evaluations.

Nationwide Retirement Solutions helps secure financial futures for approximately three million participants in 30,000 retirement plans with $250 billion in assets, across full-service recordkeeping, investment solutions, and pension risk transfer¹.Nationwide remains No. 1 in public 457 plans (based on the number of plans)² with an average tenure of 29 years¹. The company also continues to maintain significant presence  in private 401(k), nonprofit 403(b) markets, and pension risk transfer.

For 50 years, Nationwide has remained committed to continually improving its retirement solutions and service experience to better support individuals preparing for and living in retirement. The company offers a diversified portfolio of solutions that complement its traditional recordkeeping and education services. Nationwide’s goal is to help participants prepare for retirement by providing investment solutions and services designed to support long-term growth, risk management and income planning. These offerings include mutual funds, managed accounts, pension risk transfer capabilities, fixed and stable value solutions, and lifetime income options.

Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan participants. 

This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.

Guarantees are subject to the claims-paying ability of the issuing insurance company. Provisions of these options may vary based on plan selection and/or by state regulation. These investment options may not be available in all states.

Nationwide Investment Services Corporation, member FINRA, Columbus, Ohio.

Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company © 2026 Nationwide

FOR FINANCIAL PROFESSIONAL USE - NOT FOR DISTRIBUTION TO THE PUBLIC

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¹ Nationwide Financial (Dec 31, 2025)
² PLANSPONSOR 2025 Recordkeeping Survey

The companies, who have been partners since 2019, will now offer dental and vision products underwritten by Nationwide in 34 states, giving employers more ways to support their most important asset: their employees.   

Through its partnership with Nationwide, Beam has historically offered a wide range of products – including dental, vision, life, accidental death and dismemberment (AD&D), accident, hospital indemnity and critical illness. This expansion specifically broadens the reach of dental and vision offerings – quadrupling the number of states where these benefits will be available.

“We’re excited to enter into this expanded partnership with Beam Benefits, providing more businesses with the tools they need to increase employee satisfaction, build loyalty and protect their employees,” said Syed Rizvi, vice president of Nationwide Specialty Insurance. “Beam’s future-forward technology, self-service tools and exceptional customer service ensure brokers and employers have a seamless experience.”

Beam’s offerings include an end-to-end benefits platform designed for ease of use by brokers, employers and employees alike:

• Fast, customized quoting: Beam’s digital quoting tool allows brokers and employers to generate customized quotes¹ for any group size in seconds, helping them move quickly from evaluation to decision without delays.
• Quick and easy policy setup: Once a policy is selected, Beam streamlines implementation so brokers and employers can get new coverage in as little as one business day² – eliminating the weeks or months typically required to put benefits in place.  
• Simplified enrollment that drives engagement: When Beam supports the enrollment process, brokers and groups see up to a 15% increase³ in employee enrollment, driven by a clear, simplified experience and white-glove service that helps employees understand and select the coverage that’s right for them.  
• Help from humans: Dedicated customer service agents support brokers, employers and employees across the full lifecycle, from quotes and enrollment to claims and ongoing support.  

“We’re excited to expand our relationship with Nationwide and bring more dental and vision solutions to employers,” said Alex Curry, senior vice president, insurance and co-founder of Beam Benefits. “This expansion strengthens our ability to support the Nationwide team while making it easier for employers to offer benefits that employees actually use and value.”

Nationwide’s venture capital team invested in Beam in 2021 as part of their Series E fundraise, helping the company expand its offerings to new markets, onboard additional employee benefits brokerages and add additional products desired by employers.

Brokers or employers who are interested in learning more about Beam Benefits can call 1-800-232-2323 or visit Nationwide.com.

¹ Use of the Digital Quoting Tool is not currently available in all states and contingent upon broker’s proper appointment and licensure. Pricing customization may vary based on plan and state specific limitations.
² Average implementation timeframe based on internal data and dependent on the submission of complete and accurate data entry and broker approval.
³ As of June 2022, compared to prior carrier’s enrollment.

Dental and vision products underwritten by Nationwide Life Insurance Company, Columbus, OH in AL, AR, AZ, CT, DC, DE, GA, IA, ID, IL, KS, LA, ME, MI, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NY, NV, OH, OK, OR, SC, UT, TN, TX, WI, and WY. Dental coverage applicable to policy form GDTL AO L20, or state equivalent and vision policy form GVIS AO L20, or state equivalent. Dental and vision products administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC, in Texas). Vision insurance products underwritten by Vision Service Plan (VSP) in WA. Vision insurance products administered by Vision Service Plan Insurance Company. Life insurance product is underwritten by Nationwide Life Insurance Company, Columbus, OH, marketed by Beam Insurance Services LLC (Beam Benefits Insurance Services LLC, in CA) and administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC in Texas). Life and AD&D coverage applicable to policy form GLIF AO L20, or state equivalent. Life product is not available to members living in Puerto Rico and product availability may vary by state. Program restrictions and exclusions apply. Accident, Hospital only Indemnity, and Critical Illness insurance products are underwritten by Nationwide Life Insurance Company, Columbus, OH, marketed by Beam Insurance Services LLC (Beam Benefits Insurance Services LLC, in CA) and administered by Beam Insurance Administrators LLC (Beam Dental Insurance Administrators LLC in Texas). Accident coverage applicable to policy form GCAS AO L20, or state equivalent, Hospital policy form GHOI AO L20, or state equivalent and Critical Illness policy form GCI AO L20, or state equivalent. Products not available in all states. Program restrictions and exclusions apply.

Beam Benefits is not a subsidiary of Nationwide Life Insurance Company. Beam Insurance Services LLC and Beam Insurance Administrators are separate companies and not affiliated with Nationwide Life Insurance Company.

“Bringing Allstate Benefits’ self-funded program and stop loss plans under the Nationwide banner underscores the company’s long-term strategy to grow its employee benefits footprint while celebrating a century of offering protection and extraordinary care,” said Lindsey Murray, president of Nationwide Group Benefits. “This strategic shift is designed to unify Nationwide’s expanding portfolio of protection and benefits solutions under one recognizable, trusted brand.”

Nationwide acquired Allstate Benefits’ group health businesses in July 2025, expanding the company’s ability to offer self-funded and stop loss solutions to small and mid-sized employers and positioning Nationwide as a leading provider in the stop loss industry. Stop loss insurance protects employers who self-fund their health insurance plans from excess losses.

Although members and employers will now see Nationwide branding on materials and digital platforms, the team’s mission to find innovative ways to address rising healthcare costs and meet customer needs remains the same, Murray said. Clients and brokers will experience the same relationships and program solutions, backed by Nationwide’s commitment to innovation and growth.

“This is an exciting new chapter that demonstrates our commitment to delivering exceptional service, innovative solutions and unwavering support to our members, employers and brokers,” said Murray. “Allstate Benefits has found its home at Nationwide and it’s right where we belong.”

To learn more about the products and services offered under the rebranded Allstate Benefits’ businesses, visit www.nationwide.com/grouphealth.

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BOLI and COLI policies are lesser-known types of life insurance policies that help businesses informally fund employee benefits and cover the expenses associated with replacing insured employees. Banks purchase, own and serve as the beneficiary of BOLI policies, while companies buy COLI policies.

“After 30 years in the market and with more than 1,200 institutional life insurance policies in force, we know how important it is to listen to our clients and design solutions based on their complex needs,” said Jessica Dowdy, head of Nationwide ILI. “In fact, because of this approach and our experience in the industry, we were able to win our largest BOLI case on record, helping a client with over 4,000 insureds.”  

The ILI team’s success stems in large part from their end-to-end service model, allowing them to partner with clients to meet their needs from initial sales support to case retention. In fact, in a recent customer experience survey initiated by the team, a partner called Nationwide’s post-sale support the “best in the business,” said Dowdy.

“BOLI and COLI policies are sticky business, meaning these clients are with us for more than 30 years – and we need to ensure we’re meeting their needs for the entire relationship, not just the point of sale,” Dowdy said. “Our specialized underwriting, streamlined policy implementation and reliable service ensure our customers are getting the best experience for the duration of their policy.”

The ILI team’s flexible and customizable products have also contributed to their recognition across the industry. For example, the Nationwide Innovator Corporate Variable Universal Life (VUL) policy offers over 140 investment options, the lowest-cost fund lineup in the institutional life insurance market² and two death benefit options – features that help set it apart from other VULs.

“Our products are best-in-class, but our people really help us stand out from the competition,” Dowdy said. “This team is a dedicated and specialized group of industry experts – and we’re committed to helping our clients now and well into the future.”

Visit https://nationwidefinancial.com/products/business-life for more information and resources on Nationwide institutional life insurance.

¹ Based on new premium dollars, IBIS Associates Inc. for the period ending 12/31/24.
² Weighted average fund expense is an average for the entire lineup and is based on Nationwide and Morningstar historical data as of May 1, 2024.
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Kevin Jestice, president of Nationwide Retirement Solutions, announced that Suzanne Ricklin has been named the new leader of Distribution for Nationwide Retirement Solutions, the company’s public and private sector retirement plans business.  

Ricklin currently serves as Vice President of Retention & Sales for Retirement Solutions Distribution, supporting more than $208 billion in assets and nearly 3 million participants. In that role, she managed the retention and growth of government and corporate retirement clients, driving a strategic account management approach across all plan types.  

“Suzanne has a strong track record of leadership across our business,” Jestice said. “Her team has consistently expanded Nationwide solutions in alignment with client goals and delivered strong, measurable results. She has earned a reputation for being a trusted leader, a mentor to associates and someone who motivates teams to achieve meaningful business outcomes through collaboration and innovative thinking.” 

Ricklin brings more than 25 years of financial services experience, including serving as Vice President and Head of Relationship Management for Retirement Plan Services at T. Rowe Price, where she supported 500 high value clients. Prior to that, she held multiple leadership roles across relationship management, external wholesaling, corporate marketing and communications, retail sales and investor centers.  

Suzanne holds a Bachelor of Arts in Psychology from American University and an MBA from Loyola University’s Sellinger School of Business. She also maintains her FINRA Series 7, 24 and 63 licenses. She is deeply committed to financial literacy and the development of young people, having served on the board of Junior Achievement for more than 20 years and currently serving as board chair.  

Ricklin will report to Kevin Jestice. In her new role she will replace Rich Porter who recently left the company for another opportunity. Plans for replacing Suzanne’s previous role will be shared later.   

Nationwide Retirement Solutions administers nearly 32,000 retirement plans, helping protect more than $200 billion in participant assets, and helping secure financial futures for over 2.7 million participants. Nationwide services the highest volume of Governmental 457 plans and demonstrated significant growth in corporate 401(k) and not-for-profit 403(b) markets.¹ Nationwide is committed to serving the retirement industry by doing the right thing at the right time through better participant experiences, administrative simplicity and values that translate to service.  

¹ Plan Sponsor 2024 Recordkeeping Survey  
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For the third consecutive quarter, activity in the pension risk transfer (PRT) market declined, bringing in $10.6 billion in sales in 3Q, a 32% decrease year-over-year, according to LIMRA’s U.S. Group Annuity Risk Transfer Survey. While the industry’s slower sales were anticipated by industry experts like Nationwide’s head of PRT Paula Cole, buy-in activity has picked up in the second half of the year. Cole discussed why buy-ins are gaining in popularity this year, whether the dip in sales will extend into next year and how advisors can help their plan sponsor clients navigate the current environment.

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In fact, six in ten (61%) non-retired Gen Xers say they didn’t feel their retirement was an urgent priority, rather a distant milestone, until age 50 or older. Moreover, about a quarter (26%) say they won’t reach that point until age 60 or older.  

This delayed awareness has created a domino effect. Many Gen Xers now feel like they're behind in their planning and are fighting to catch up with their retirement savings. After realizing retirement was nearing, 40% of Gen X investors cut discretionary spending, 34% increased their contributions to retirement accounts, 23% sought out professional financial advice and 19% shifted their investment strategy to reduce risk.

Even though they’re taking action, Gen Xers lack confidence in their ability to stretch savings through the full duration of their retirement – and financial advisors agree with that concern. A quarter (25%) of Gen X investors say they are concerned their savings won’t last more than 14 years, and more than one in ten (12%) say their savings are already dwindling. Many advisors share that unease, with 39% believing insufficient retirement income is one of the biggest obstacles for their Gen X clients’ retirement readiness.

“For Gen Xers, the clock is ticking. Retirement is no longer a distant milestone, but an event that’s right around the corner. These investors have been focused on juggling college costs for their children, caring for aging parents and managing through economic volatility over the last several years, but retirement planning can no longer wait,” said Suzanne Ricklin, vice president of Nationwide Retention and Sales. “Every year of delay means fewer options and greater risk they will miss out on a secure retirement. Making retirement a priority now by connecting with a financial advisor who can help pinpoint the right solutions for Gen Xers’ needs is essential for this generation.”

Macro Pressures Top of Mind
Cost of living and broader macroeconomic pressures are profoundly impacting Gen Xers' retirement plans. Despite being on the threshold of retirement, many are reconsidering their timelines entirely. In fact, 16% of non-retired Gen Xers say they are planning to retire later than initially hoped. More than one in ten (12%) say they plan to work part-time in retirement, and 15% say they don't know if they'll ever be able to retire.

That uncertainty is carrying over into Gen Xers' perspective on their post-retirement lives, too. A quarter (26%) of non-retired Gen Xers believe they would be forced to return to the workforce at some point due to inadequate savings if they retired in the next 12 months. More than four in ten (43%) say they'd continue working in some capacity to supplement income out of necessity.

Swirling macroeconomic pressures over the last year have played a key role in this sentiment. While 29% say they won’t change their allocations, 50% of Gen Xers say the events of the last 12 months have made them more likely to put part of their portfolio into an annuity or other solution that provides guaranteed income.

Concerns about inflation and government benefits are accelerating at an alarming pace. More than half (56%) of non-retired Gen Xers believe inflation will increase in the next year, up from 39% six months prior. Nearly half (48%) believe Social Security and Medicare will be cut in the Federal budget process, threatening the long-term solvency of the program, up from 34% six months ago.

The impact is clear: 89% of Gen Xers believe rising living costs are making it harder to retire comfortably.

Key Catalysts Spur Retirement Action
Gen Xers are learning from their family members' retirement experiences—and it's changing how they approach their own planning. In fact, more than a third (37%) of non-retired Gen Xers say observing peers or family members struggle with retirement planning was a primary trigger for making retirement planning a priority for themselves.

In addition to familial struggles with retirement, the current economic landscape is driving retirement planning to the top of the list of priorities for Gen Xers, as 38% say economic changes or market volatility forced them to prioritize retirement planning. Moreover, advisors' recommendations carry significant weight in Gen Xers' eyes, with 28% saying a financial planning session or advice from an advisor prompted them to make retirement planning a priority.

Financial Professionals Recognize Headwinds, Offer Perspective
Beyond insufficient retirement income, financial professionals have identified other key headwinds facing Gen X clients’ retirement prospects. A quarter (25%) point to insufficient emergency savings as a key retirement obstacle for Gen Xers, and a third (33%) also point to concerns around escalating healthcare and insurance expenses as one of the biggest obstacles for Gen X clients.

In response, advisors are using different, targeted approaches to help their Gen X clients compared to those used with their older clients. More than four in ten (43%) are having more frequent and flexible communication with this cohort, keeping in touch regularly to guide them through the home stretch. Nearly a third (32%) are increasing or introducing the use of annuities with their Gen X clients.

“As Gen X investors approach retirement, working with a trusted financial advisor becomes more critical than ever,” said Ricklin. “This generation faces unique challenges, and a calm, professional perspective can help cut through the noise, keep plans on track and protect the dreams they’ve worked so hard to build. Advisors should help Gen X clients create a holistic financial plan that sets them up to meet all their needs, including a plan to ensure their money lasts as long as they do, providing confidence and clarity when it matters most.”

Nationwide offers resources to help advisors facilitate conversations with Gen X clients, including this whitepaper which explores how annuities can help address this cohort’s inflation and market volatility concerns while also offering the clarity and control they value.  

For more insights on this survey data, see our infographic.

Nationwide’s eleventh annual Advisor Authority study, powered by the Nationwide Retirement Institute^® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 510 advisors and financial professionals and 2,007 investors ages 18+ with investable assets (IA) of $10K+, August 19-September 2, 2025. Among the investors, there were 580 Gen X (age 45-60). 

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.3 percentage points using a 95% confidence level. For investors data is accurate to within ± 2.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.  For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com.  

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

According to a recent survey from Nationwide, three-fourths (76%) of annuity owners are confident they will be able to retire when they want, compared to only 49% of those who do not own an annuity. However, the age investors plan on retiring has shifted since 2023 when Nationwide initially polled consumers between the ages of 45-60. This cohort now expects to retire at 64.3, six months later than in 2023 (63.7).

“It’s not surprising to see annuity owners feeling confident in their ability to retire, particularly because annuities are one of the only investment products that can provide guaranteed income for life no matter how long someone lives and regardless of the economic environment,” said Rona Guymon, senior vice president of Nationwide Annuity Distribution. “This presents an opportunity for financial professionals to connect with investors who don’t currently own an annuity to see if one aligns with their financial goals and retirement plans. In any economy, and at all stages of the financial life cycle, annuities can provide protection and guaranteed income.”

Interest in annuities is growing

In addition to helping them feel confident about their retirement timeline, investors also recognize the value of annuities when it comes to guaranteed income.

According to a recent Greenwald Research program sponsored by Nationwide, consumers have more confidence in the guarantee from an annuity than they do from Social Security. Seventy percent of consumers said they were confident they would receive annuity income payments as promised, vs only 61% that said they were confident they would receive their full Social Security benefits.

This confidence in guaranteed payouts may be a reason interest in annuities is growing, with 31% of investors who have never purchased an annuity significantly more likely to consider a purchase today than in 2023 (5%), according to Nationwide’s survey.

“For years, misinformation and misinterpretations have plagued annuities, but as advisors have stuck with fact-based messages to dispel those myths, we’ve seen sentiment start to change. It’s incredible to see investors recognizing the unique benefits annuities offer and turning to them as a key solution for a stable retirement,” Guymon said. “This reinforces how crucial it is for advisors to help their clients fully understand the benefits and drawbacks of all retirement solutions so they can make informed decisions about the products that are right for them.”

Seeking out a financial professional partner

Interest in annuities isn’t the only thing on the rise. More investors are seeking out financial professionals and advisors too.

Almost half (48%) of investors in Nationwide’s survey said they are working with a paid financial professional, up from 36% in 2023. Those who work with a financial professional are also more likely to have discussed annuities (78% in 2025 vs 66% in 2023), and more likely to say their financial professional views annuities positively (55% in 2025 vs 39% in 2023).

“Our survey data highlights an opportunity for advisors to connect with the 52% of investors who don’t currently receive professional financial advice, helping them gain the knowledge of solutions like annuities that will allow them to retire with confidence,” Guymon said.

The Nationwide Retirement Institute offers access to planning tools and consultative support that financial professionals can use to connect with new clients, helping to build a trusted and lasting relationship.

About Nationwide and Zeldis Reseach’s Future Annuity Buyers Study:

The research was conducted online within the U.S. by Nationwide Mutual Insurance Company and Zeldis Research from July 17-24, 2025, among 699 consumers who qualified as “Future Annuity Buyer” targets. This target was defined as consumers ages 45-60, not retired, with income and asset thresholds of at least $100,000 and $150,000, respectively.

About Greenwald Research’s Retiree Insights Program:

The research was conducted online within the U.S. by Greenwald Research in June 2025, among 1,000 consumers. Consumers were between 50-70 years old with investable assets of at least $200,000, no defined-benefit income and involved in household financial decisions. Nationwide Mutual Insurance Company was a sponsor of this research.

A recent survey from the Nationwide Retirement Institute reveals the emotional and financial realities facing caregivers today. Among those who have served as caregivers, the average time commitment is more than 22 hours per week, with $372 in monthly out-of-pocket expenses. Nearly half of Millennial and Gen X caregivers say caregiving has strained their relationships with spouses, children, or friends. Yet despite these challenges, 70% say they would choose to be a caregiver again.

“Caregivers are the unsung heroes of our health care system,” said Holly Snyder, president of Nationwide Life Insurance. “As we celebrate Long-Term Care Awareness month, we should all salute America’s caregivers for their dedication, compassion, and resilience —not just this month, but every day. Their sacrifice should serve as a call-to-action for the financial community to help more Americans, and their loved ones, prepare for the future.”

Need for Greater LTC Awareness and Education

The survey also highlights the need for greater public education around long-term care. While 22% of respondents say they have long-term care insurance (LTCi), industry data from LIMRA shows actual ownership is closer to 3–4%.

Additionally, 58% of Americans mistakenly believe Medicare will cover long-term care costs, which it largely does not. Four in ten people (41%) doubt they will live long enough to need LTC, and however, 70% over age 65 will need some sort of LTC in their lifetime.*

Many also overestimate the cost—47% by two times and another 23% by three times. Encouragingly, once consumers learn the actual cost, nearly half (47%) say they are more willing to consider purchasing LTCi.

The Role of Financial Professionals

Despite widespread concern, only 1 in 5 Americans have discussed long-term care costs with a financial professional. Among those who have not, the most common reason is that their advisor has not brought it up. Yet two-thirds (66%) of consumers trust that their financial professional will tell them when it is the right time to buy LTCi.

“Financial professionals have a responsibility—and an opportunity—to lead these conversations,” said Snyder. “By helping clients understand the real costs of caregiving, the risks of relying solely on family, and the value of long-term care insurance, they can empower families to plan with confidence.”

Planning for the Future Starts Today

To learn more about the 2025 Nationwide Retirement Institute Long-term Care survey and access planning resources, visit nationwide.com/SimplifyLTC, and visit nationwide.com/LTCbasics to access and share client-approved educational and planning resources.

*Long-termCare.gov,2025

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The good news? “Credit and loan management solutions, like securities-backed lending (SBL), can help investors address all three of those concerns,” said Debra Griffin, head of Nationwide’s SBL business. However, as SBL gains popularity, misunderstandings about its advantages and potential risks may cause confusion among clients.

“The SBL industry has seen significant growth over the last five years as investors seek out ways to access liquidity by leveraging their investment portfolios as collateral,” said Griffin. “Despite that growth, misunderstandings about the product persist, which is why it’s so important for advisors to educate their clients about solutions that may be right for them, including SBL.”

Here are a few common misperceptions about SBL that advisors can address with clients:

SBL is only for rich people

One of the most common SBL myths across the industry is that it is only for the wealthiest investors, Griffin said.

“While it’s true SBL used to be reserved for the ultra-wealthy, they have become much more accessible in recent years, now serving as a popular source for funding real estate purchases, education expenses and paying tax liabilities at a time when many of us are struggling with high costs,” said Griffin.

Lenders determine the value of a securities-backed line of credit (SBLOC) based on an investor’s portfolio, with the minimum amount needed to open one now much smaller than it was in the past. For example, Nationwide’s SBL solution, Nationwide Smart Credit, offers a $26,000 minimum line of credit, allowing more modest investors opportunities to meet their liquidity needs.

All debt is the same

“Many investors also believe they should avoid all debt, but not all debt is the same,” Griffin said. A SBLOC provides strategic liquidity, she explained, allowing investors to use their investments to access cash and potentially enhance their portfolios. Investors can use SBL to seize business opportunities, boost retirement income and manage estate planning needs. Unlike high-interest consumer debt such as credit cards or personal loans, SBL also offers flexible repayment options.

“Investors may believe other lending options, like credit cards or individual bank loans, may be more accessible or better options in the current environment, but SBL is a smart alternative right now,” Griffin said. “Advisors should talk to their clients about the lower interest rates available through SBL compared to traditional loans, home equity lines of credit or credit cards. SBLs also allow investors to avoid paying capital gains taxes when liquidating.”

SBL only makes sense in low-interest rate environments

Investors may also believe that SBL, like most credit and loan management solutions, only works well in low-interest rate environments.

“In fact, a SBLOC performs effectively in higher-interest rate environments like we’re experiencing right now,” Griffin said. “We’re also seeing interest rates start to decline, which will make them even more attractive.”

The Federal Reserve cut rates by 25 basis points last week for the second time this year, and Nationwide’s Office of Economics expects them to cut another 75 basis points by the end of 2026.

Loan paperwork is cumbersome and takes too long to complete

Another common myth Griffin said her team hears frequently is that loans in general take too long to process and provide access to cash when needed.

“Depending on the type of lender and how much information is needed for the application, funds can take weeks to be sent,” Griffin said. “However, the SBL industry is speeding up that timeline using digital, online processes and paperwork so investors have the cash they need when they need it.”

Some companies – like Nationwide – have made it so clients can access cash in as little as hours or days, Griffin explained.

“It’s important for advisors to talk with their clients to truly understand their goals so they can anticipate their needs and recommend solutions that fit their financial journey,” Griffin said. “While SBL comes with a lot of misconceptions, helping break those down with your clients can ensure they’re not missing out on a product that could help them – and position you as a trusted partner that can help them achieve their goals.”

Advisors who are looking for more information on securities-backed lending, including key benefits and advantages, can visit https://www.nationwide.com/financial-professionals/products/corporate-solutions/sbl.

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10/2025

Whereas previous generations used homeownership as a tool to build wealth, many Millennials (investors ages 29-44) are struggling to afford housing and view it as a challenge to their retirement savings plan. That struggle is causing a negative view of retirement attainability in general – more than a third (35%) of Millennials cite rising housing costs as the biggest obstacle to their retirement readiness, and 46% believe mortgage or home equity loans pose the biggest threat to achieving a secure retirement.

The impact of the housing dilemma is immediate and measurable: 60% of Millennials have adjusted their retirement plans at least some since the start of 2025 in response to rising housing costs. This housing-retirement tension represents a fundamental departure from traditional wealth-building strategies, forcing Millennials to reimagine how they’ll achieve financial security in retirement without relying on real estate appreciation.

Without access to wealth through housing, Millennials are turning toward contribution plans early in their retirement journeys. Half (50%) of this cohort opened retirement accounts, such as 401(K)s or IRAs, and a quarter (22%) opened brokerage accounts to begin planning for retirement. The shift towards contribution plans also looks like more than just a temporary focus for this generation. Nearly three in ten (28%) working Millennials say they plan to contribute more to their 401(k) or employer-sponsored defined contribution plan over the next 12 months, and 23% say they plan to contribute the maximum amount eligible for an employer match.

Despite these actions, Millennials are worried about how long their savings will last in retirement. More than a fifth (22%) say they are concerned their savings won’t last more than 14 years, and one in ten (10%) say their retirement savings are already dwindling. 

“Millennials are navigating their prime earning years in a financial landscape marked by volatile markets, high interest rates and shifting economic norms. These challenges are not only impacting their ability to build long-term wealth but also key life milestones like homeownership,” said Juan José Pérez, president of Nationwide Corporate Solutions. “While it’s great to see Millennial investors tapping into the benefit of retirement accounts, partnering with a trusted financial advisor can help them build on those savings, creating personalized, goal-based strategies to manage risk and prepare for major life events with confidence.”

As Millennials Embrace Professional Advice, Advisors Are Addressing their Blind Spots

The complexity of today’s financial landscape has driven Millennials to seek professional guidance at unprecedented rates. Of the 45% of Millennial investors who pay to work with an advisor or financial professional, three-fourths (75%) began doing so in the last 12 months. However, the surge in professional relationships reveals a critical gap between Millennial concerns and advisor perspectives.

While Millennials focus on immediate challenges like housing costs, advisors take a longer view. Only about one in ten (9%) advisors say housing prices and mortgage rates pose a long-term challenge to their clients’ retirement portfolios. Eight in ten (82%) advisors, however, indicate healthcare costs are an extremely/very significant factor in their Millennial clients’ ability to plan for retirement. Additionally, 35% of advisors indicate the uncertain future of government support programs (Social Security, Medicare, Medicaid) pose the most immediate challenges to clients’ retirement portfolios.

The disconnect is striking: only 13% of Millennial investors cite healthcare costs as an obstacle, and 6% consider a presumed lack of Social Security funds to be a challenge to preparing for retirement, suggesting Millennials can benefit significantly from advisors’ long-term perspective on retirement planning risks.

“It’s great to see more Millennials turn to financial professionals, and healthy for advisors to help them see beyond short-term financial goals. However, our survey data shows a disconnect, highlighting an opportunity for advisors to take a step back and ensure they are listening to Millennials’ goals and addressing their concerns before offering solutions – whether those solutions are for short-term or long-term life events,” Pérez said.

When working with Millennials, advisors should note they may be ready for more sophisticated long-term investment strategies, with six in ten (61%) Millennials saying they are likely to put part of their portfolio in an annuity or other solution that provides guaranteed income given the events of the last 12 months.

“Saving for short-term goals, like buying a house, is important, but layering that with preparation for longer-term challenges remains imperative,” said Pérez. “Advisors who can establish relationships with Millennial clients now have a tremendous opportunity to grow their practices, as this generation is just starting to build meaningful savings and looking for a partner to help guide them on that journey.”

The Nationwide Retirement Institute offers resources to help advisors facilitate conversations with Millennial clients.

For more insights on this survey data, see our infographic.

Nationwide’s 11^th annual Advisor Authority study, powered by the Nationwide Retirement Institute®, explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology

The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 510 advisors and financial professionals and 2,007 investors ages 18+ with investable assets (IA) of $10K+, August 19-September 2, 2025. Among the investors, there were 667 Millennials (age 29-44).

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.3 percentage points using a 95% confidence level. For all investors data is accurate to within ± 2.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com.

About The Harris Poll

The Harris Poll is one of the longest running surveys in the U.S tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

Nationwide representatives celebrated partner recipients as they accepted their honors at the 2025 NAGDCA Leadership Recognition Awards ceremony, which took place during the association’s annual conference in San Diego, September 28 to October 1. 

Nationwide-supported plans captured four Leadership Recognition Awards as well as the peer-voted Members’ Choice Award and NAGDCA’s top honor - an Art Caple President’s Award.  

“Congratulations to our valued partners for earning these best-in-class industry recognitions,” said Kevin Jestice, president of Nationwide Retirement Solutions. “We’re honored to support these public sector plans, and we applaud their creative efforts to help participants feel more confident planning for retirement.”    

Art Caple President’s Award  

• County of Fresno Deferred Compensation Plan won the standard plan 2025 Art Caple President’s Award which celebrates visionary leadership and innovation that enhance participants’ financial well-being. The County of Fresno was recognized in the Plan Participant and Communication category for its Increasing Plan Participation: A Journey of Education and Engagement initiative.  

Top, from left: Deanna Sisk (Nationwide), Jake Sours (Nationwide), Ed Malone (Nationwide), Greg Sabin (Nationwide), Kent Morris (Nationwide)  

Bottom, from left: Brent Petty (Fresno DC), Hollis Magill (Fresno DC), David Joseph (Fresno DC), Jim Keeler (Fresno DC) 

Members’ Choice Award  

• State of Indiana – Hoosier START Deferred Compensation Plan earned the 2025 Members’ Choice Award for its Leader Campaign: Empowering State Leaders for Enhanced Employee Retirement. The Members’ Choice Award, which recognizes the most outstanding project or campaign of the year, is determined by a vote among attendees at the NAGDCA Annual Conference.  

From left: Kimberly Rumple (Nationwide), Staci Schneider (Hoosier START), Britton Stucker (Hoosier START), Emily Boesen (Hoosier START), Michael Burkhart (Nationwide), Sarah Carlo (Nationwide), John Archer (Nationwide) 

Leadership Recognition Awards  

The Leadership Recognition Award winners were selected from nominations across five categories and judged on originality, effectiveness and measurable results. 

• The State of California Savings Plus 2024 Simplified Enrollment and Onboarding Experience was recognized in the Technology & Cybersecurity category. This marks the plan’s first win in the Technology & Cybersecurity category.
• The State of California Savings Plus 2024 Roadmap to Retirement Readiness Campaign won in the Participant Education & Communication category. This honor marks the second consecutive year that California Savings Plus won in the Participant Education & Communication category. 

From left: Zack Sharp (Nationwide), Taylor Schultze (California Savings Plus), Sandy Blair (California Savings Plus), Gina Eversley (California Savings Plus), Jake Sours (Nationwide) 

• State of Indiana - Hoosier START Deferred Compensation Plan was recognized in the Holistic Financial Wellness category for its Leader Campaign: Empowering State Leaders for Enhanced Employee Retirement. The 2025 Leadership Recognition Award is the second in as many years for Hoosier START, but its first in the Holistic Financial Wellness category.  

From left: Kimberly Rumple (Nationwide), Staci Schneider (Hoosier START), Britton Stucker (Hoosier START), Emily Boesen (Hoosier START), Michael Burkhart (Nationwide), Sarah Carlo (Nationwide), John Archer (Nationwide) 

• Ohio Deferred Compensation (Ohio DC) won in the Participant Education & Communication category for its Employer Recognition Program. This year’s award for Ohio DC follows a 2024 win in the same category.  

From left: Kevin Kirkpatrick (Ohio DC), Matt Gill (Nationwide), Ken Thomas (Ohio DC), Lauren Gresh (Ohio DC), Renee Zysk (Ohio DC) 

Nationwide Retirement Solutions is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide Retirement Solutions administers nearly 32,000 retirement plans, helping protect nearly $200 billion in participant assets, and helping secure financial futures for over 2.7 million participants. Nationwide services the highest volume of Governmental 457(b) plans and demonstrated significant growth in corporate 401(k) and not-for-profit 403(b) markets.¹ Nationwide is committed to serving the retirement industry by doing the right thing at the right time through better participant experiences, administrative simplicity and values that translate to service.  

Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan participants.   

¹ Plan Sponsor 2024 Recordkeeping Survey 

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“We’re introducing RetireAssist Connect to address the growing demand for scalable, efficient group retirement plan solutions that don’t compromise on customization or fiduciary protection,” said Rich Porter, senior vice president of Nationwide Retirement Solutions Distribution. “This solution offers advisors the simplicity of a pooled structure with the autonomy to tailor plan design, investment options, and pricing to meet the unique needs of employers and participants.”

Key Benefits of RetireAssist Connect:

• Tailored Plan Design – Unlike traditional pooled plans with standardized structures, RetireAssist Connect allows for personalized plan features to better align with employer goals and participant needs.
• Expanded Investment Options – Participants gain access to a broader range of investment choices through Nationwide’s Fund Window.
• Cost-Effective Pricing – Individualized pricing ensures employers only pay for the services they need.
• Comprehensive Fiduciary Support – Full 3(16) and 3(38) fiduciary services reduce administrative burden and liability for plan sponsors.
• Streamlined Operations – A single Form 5500, shared audit costs, and end-to-end support simplify day-to-day plan management.

Nationwide serves as the recordkeeper, custodian and corporate trustee for Nationwide RetireAssist Connect, and is joined by a strong team of service providers including Kovitz Investment Group Partners as the 3(38) investment fiduciary, Fiduciary Wise as the pooled plan provider for 402(a), and Strongpoint as the plan administrator.

More information about RetireAssist Connect, and other Nationwide RetireAssist solutions, can be found here.

Nationwide Retirement Solutions is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide Retirement Solutions administers nearly 32,000 retirement plans, helping protect nearly $200 billion in participant assets, and helping secure financial futures for over 2.7 million participants. Nationwide services the highest volume of Governmental 457 plans and demonstrated significant growth in corporate 401(k) and not-for-profit 403(b) markets.¹ Nationwide is committed to serving the retirement industry by doing the right thing at the right time through better participant experiences, administrative simplicity and values that translate to service. 

Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan participants.

¹ Plan Sponsor 2024 Recordkeeping Survey

This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.

Nationwide, Kovitz Investment Group Partners, Fiduciary Wise and Strongpoint are separate and nonaffiliated companies.

The Nationwide Group Retirement Series includes unregistered group fixed and variable annuities and trust programs. The unregistered group fixed and variable annuities are issued by Nationwide Life Insurance Company, Columbus, Ohio. Trust programs and trust services are offered by Nationwide Trust Company, FSB. Nationwide Investment Services Corporation, member FINRA, Columbus, Ohio.

Nationwide, the Nationwide N and Eagle, Nationwide is on your side, Nationwide RetireAssist, Nationwide RetireAssist Connect and other marks displayed in this message are service marks of Nationwide Mutual Insurance Company and/or its affiliates, unless otherwise disclosed. Third-party marks that appear in this message are the property of their respective owners. © 2025 Nationwide

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Nationwide, the top wholesale distributor of advisory variable annuities¹, will begin selling Midland National Capital Income, the top-ranked² fixed indexed annuity (FIA) for fee-only advisors, further enhancing the company’s suite of advisory FIA options. Midland Advisory, part of Midland National^® Life Insurance Company, will distribute the FIA alongside Nationwide, expanding their product offering beyond their current advisor network.   

A competitive income solution specifically designed for advisory practices, Capital Income provides guaranteed lifetime income through a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) for an annual 1% charge. It also features an embedded ADL Benefit Rider, known as the health-activated income multiplier, which allows a client to double their annual lifetime payment for five years if they can no longer perform two of six listed “Activities of Daily Living,” or ADLs. ³

“As we enter a period of peak retirement, many pre-retirees are seeking out advisors and solutions to ensure they have the resources they need to secure peace of mind for their golden years,” said Eric Fry, associate vice president of Nationwide Advisory product development. “Working together with Midland Advisory, Nationwide will now be able to offer another guaranteed product for advisors that will help them bridge the retirement gap for their clients.”

Two factors that distinguish Capital Income from other advisory FIAs, said Fry, are that there is no waiting period to start income, as long as all payees meet the age requirements, and that the ADL benefit is available even after the account value is depleted. This creates greater flexibility and control for the advisor and their client.

“One of the biggest challenges in financial planning is bridging the transition from funding retirement to creating a solid decumulation strategy that both the advisor and client can trust. Advisors don’t have as many options for client retirement income as they do for accumulation,” said Cooper Sinclair, Head of Strategy for Midland Advisory at Midland National. “With Nationwide and Midland Advisory working together, we expect to bring annuity benefits to more financial advisors and their clients.”

Midland Advisory, part of Midland National^® Life Insurance Company, specializes in retirement solutions to help meet the needs of registered investment advisors (RIAs) and their clients.

Financial professionals interested in the Midland National Capital Income fixed indexed annuity can visit MidlandAdvisory.com or call Nationwide’s Advisory Support Desk at 866-667-0564.

¹ Wink’s Sales & Market Report 1^st Quarter, 2025
² Midland National Capital Income fixed indexed annuity rated #1 in RIA distribution and fee-based overall in Wink’s Sales & Market Report, Q2 2023–Q1 2025. Wink, Inc. is an independent third-party company and is not affiliated with Midland National.
³ The ADL Benefit Rider (also known as the health-activated income multiplier) is not long-term care insurance, nor is it intended to replace long-term care insurance.

Midland National Capital Income® fixed index annuity is issued on form AS201A/AS202A/ICC19-AS201A (contract), ICC19-AR371A, ICC20-AR378A/AR378A, ICC20-AR379A/AR379A, ICC20-AR380A/AR380A, ICC19-AR363A/AR363A, ICC19-AR364A/AR364A, ICC19-AR362A/AR362A, ICC19-AR369A/AR369A, and ICC19-AR360A/AR360A, or appropriate state variations including all applicable endorsements and riders. This product, its features and riders may not be available in all states.

These conditions include the increased cost of living, cited by 51% as one of the biggest long-term challenges to their retirement portfolio, and inflation, with 15% saying they will retire later than planned because of it.

Possibly as a result, some pre-retirees are focused on building their savings over the next year, including one fifth (20%) who say their biggest financial concern over the next 12 months is saving enough for retirement. Many also plan to continue working in some capacity in retirement to preserve those savings. More than One third (35%) of pre-retiree investors are planning to work in retirement, and 27% say they’re delaying their retirement – two approaches that are radically different from previous generations.

“Many pre-retiree investors saw their parents and grandparents retire with the confidence that came from having traditional pension benefits – benefits that are much less common today,” said Craig Hawley, president of Nationwide Annuity. “It’s not surprising that pre-retiree investors are questioning whether their dream retirement is even possible as they grapple with lingering inflation, market volatility and concerns about running out of money in retirement. As a result, we’re seeing many of them abandon conventional retirement strategies used by previous generations. Rather than try to figure this out on their own, pre-retirees should lean into relationships with trusted financial professionals to build a plan that puts them in the best position for success.”

Not your grandparents’ retirement: Veering from traditional retirement rules
Overall, nearly six in ten (59%) pre-retiree investors say their expectations for retirement have changed significantly in the last five years. At the same time, many also indicate they do not subscribe to traditional retirement norms and strategies in the same way previous generations have, citing today’s economic environment as the cause.

The 4% Rule: More than a third of pre-retirees (35%) do not find the 4% Rule (withdrawing 4% of your retirement portfolio to make it last through retirement) to be a relevant retirement rule of thumb in today’s economic environment. Some (13%) investors in this group are abandoning the 4% Rule altogether.

100 Minus Age: Additionally, 53% do not find the ‘100 Minus Your Age in Stocks’ rule (deciding the portion of your portfolio dedicated to stocks based on your age) to be relevant in today’s economic environment.  

Magic Number: Pre-retirees are also abandoning a ‘target’ retirement age or savings goal. Over half (52%) of pre-retiree investors do not believe in the concept of a ‘magic number’ for retirement savings.

Retiring at 65: Nearly two thirds (64%) say the norm of retiring at age 65 doesn’t apply to people like them, up from 59% a year ago.  

Advisors aren’t ready to abandon tried-and-true rules of thumb
Facing largely ambiguous retirement prospects, pre-retirees are turning to financial professionals – with many having done so in the past year. Of the 40% of pre-retirees who currently work with a financial advisor, more than a quarter (28%) started working with their advisor in the last 12 months.

Financial advisors still support traditional retirement rules of thumb, even as their pre-retiree clients abandon legacy investment practices. A significant majority (84%) of advisors find the 4% Rule to be relevant in today’s economic environment, and nearly three fourths (73%) find the ‘100 Minus Your Age in Stocks’ Rule to hold value, too.

“Our survey data shows a disconnect between pre-retiree investors and advisors when it comes to traditional retirement strategies – a gap that may be driven by the fact that more than half of pre-retiree investors are not currently working with an advisor and may not understand how these tried-and-true rules of thumb can benefit them,” Hawley said. “While traditional retirement rules are not going to be for everyone, working with a trusted advisor can help pre-retirees determine which ones, if any, are right for them.”   

Financial professionals cite macroeconomic factors as key disruptors to their clients’ retirement planning strategies. Nearly half (46%) say inflation influenced their pre-retiree clients to rethink or redefine their retirement planning strategies. Nearly the same share of advisors (45%) blame the rising cost of living and 37% point to a fear of running out of money in retirement.

With these headwinds in mind, advisors say their pre-retiree clients’ retirement prospects look much different than those of their parents or grandparents. More than four in ten (42%) advisors say their pre-retiree clients plan to ‘phase’ their retirements (work six months, off six months, or work fewer hours).  

“Pre-retiree investors are at an age where the financial decisions they make can carry massive implications for their retirement security,” Hawley said. “Financial professionals can help them create a holistic plan for addressing important factors like Social Security, health care, long-term care, taxes and income in retirement. While some of these investors may feel hopeless, a good financial professional can help them chart a course for a more secure retirement and potentially head off challenges while there’s still time to address them.”

The Nationwide Retirement Institute offers resources to help facilitate conversations on these topics. These resources can help advisors address plans and identify gaps for their pre-retiree clients before it’s too late.

For more insights on this survey data, see our infographic.

Nationwide’s tenth annual Advisor Authority study, powered by the Nationwide Retirement Institute^® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 610 advisors and financial professionals and 2,524 investors ages 18+ with investable assets (IA) of $10K+, January 6-25, 2025. Among the investors, there were 379 pre-retirees in January 2025, 336 pre-retirees in August/September of 2024.

The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.0 percentage points and for investors the sample data is accurate to within ± 2.5 percentage points using a 95% confidence level. The sample data for the subset of pre-retiree investors age 55-65 who are not retired is accurate to within ± 6.0 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed populations of interest. 

For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com.

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

NWXHX has delivered an average annual return of 6.07% since inception, outperforming its peer group by 2%. The Fund offers a flexible approach, enabling it to adapt to shifting markets and economic conditions. NWXHX portfolio management team has three experienced professionals with over 100+ years of combined expertise. 

“This milestone is a testament to our institutional-level, multi-step approach to investment manager and fund selection. By prioritizing quality and consistency, we are committed to providing investors with a higher probability of reaching their investment goals," said Kevin Jestice, President of the Nationwide Investment Management Group. "We leverage the specialized knowledge and expertise of subadvisers while holding them to the highest standards.”

Exceeding $1 billion in assets creates an opportunity to increase the Fund’s visibility and drive continued growth. Other key differentiators of the Nationwide Strategic Income Fund include:

• Flexibility to invest across fixed income sectors
• Active fixed income strategy with no benchmark constraints
• Can be used as a stand-alone strategy or to complement a core bond fund

On June 26, 2025, the Nationwide Amundi Strategic Income Fund was renamed to the Nationwide Strategic Income Fund following the merger of Amundi US with Victory Capital. No other changes were made to the Fund, and it continues to operate under the same portfolio management team, as well as its existing investment objectives, guidelines, tickers and fee structure.

¹The Fund ranked 35^th in the 1-year Morningstar category out of 371 funds, 9^th in the 3-year category out of 350 funds, 2^nd in the 5-year category out of 303 funds and 1^st since inception (11/2/2015) out of 254 funds.  Overall Morningstar Ratings are as of 6/30/2025, out of 350 funds, and based on Class A risk-adjusted return, and a weighted average of its applicable 3, 5, and 10-year Ratings, if applicable.  See disclosures below.

Nationwide Investment Management Group (IMG) is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. IMG provides access to a curated list of investment solutions across asset classes that seek to outperform across market environments using a subadvised model offering access to specialized knowledge and expertise at institutional pricing. IMG holds its managers to the highest performance standards through uncompromising oversight by its nearly 20-person investment research team and provides ongoing market, economic and investment insights to help investors identify opportunities, manage risk and stay informed.

Learn more about the services Nationwide Investment Management Group provides.

This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.

Call 800-848-0920 to request a summary prospectus and/or a prospectus, or download prospectuses at nationwide.com/mutual-fundsprospectuses.jsp. These prospectuses outline investment objectives, risks, fees, charges and expenses, and other information that you should read and consider carefully before investing.

KEY RISKS: The Fund is subject to the risks of investing in fixed-income securities, including high-yield bonds (which are more volatile). The Fund may invest in corporate loans (which have speculative characteristics and are high risk). The Fund also is subject to the risks of investing in foreign securities (currency fluctuations, political risks, differences in accounting and limited availability of information, all of which are magnified in emerging markets). The Fund may concentrate on specific sectors or countries, subjecting it to greater volatility than that of other mutual funds. The Fund may invest in more-aggressive investments such as derivatives (many of which create investment leverage and illiquidity, and are highly volatile). The Fund may invest in sovereign debt (a governmental entity may delay or refuse to pay interest or repay principal). Funds that invest in high-yield securities are subject to greater default risk, liquidity risk, and price fluctuations than funds that invest in higher-quality securities. The prices of high-yield bonds tend to be more sensitive to adverse economic and business conditions than are higher-rated corporate bonds. Increased volatility may reduce the market value of high-yield bonds. They are also subject to the claims-paying ability of the issuing company. The Fund's holdings may subject the Fund to liquidity risk, making it more volatile than other mutual funds. Please refer to the most recent prospectus for more detailed information.

Morningstar rankings are based on average annual returns. Morningstar percentile rank is a standardized way of ranking items within a peer group, in this case, funds with the same Morningstar Category. The observation with the largest numerical value is ranked one; the observation with the smallest numerical value is ranked 100. The remaining observations are placed equal distance from one another on the rating scale. Note that lower percentile ranks are generally more favorable for returns (high returns), while higher percentile ranks are generally more favorable for risk measures (low risk). 

Morningstar Ratings are based solely on a proprietary mathematical formula based on measures of risk and performance that it recalculates each month. The ratings formula measures the amount of variation in a fund's or ETF's monthly performance (excluding the effects of sales charges and loads) emphasizing downward variations and rewarding consistency. Ratings are subject to change every month. The top 10% of funds and ETFs in the category receive 5 stars; the next 22.5%, 4 stars; the next 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10%, 1 star. Other share classes may have different performance characteristics. Ratings are based on each fund's Class A performance. Current fund performance may be higher or lower, which may change a fund's star rating. Despite high ratings, funds may have experienced negative performance during the period. The fund received 5 and 5 stars (Class A), 5 and 5 stars (Institutional Service Class), and 5 and 5 stars (R6 Class) for the 3- and 5-year periods among 350 and 303 Multisector Bond funds, respectively.© 2025 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Nationwide Funds distributed by Nationwide Fund Distributors LLC (NFD), member FINRA, Columbus, Ohio. Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio. NFD and NISC are not affiliated with any subadviser contracted by Nationwide Fund Advisors, with the exception of Nationwide Asset Management, LLC and are not affiliates of Morningstar, Inc.

Nationwide and the Nationwide N and Eagle are service marks of Nationwide Mutual Insurance Company. © 2025 Nationwide

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According to a recent survey from Nationwide, financial professionals who sell annuities are using a variety of software and financial technology platforms in their practices, including financial planning software (73%), customer relationship management (CRM) platforms (62%) and performance reporting software (56%). They are primarily gaining access to these programs through their firm or third-party providers, with some turning to financial services providers for solutions.

However, there remains a gap in the tasks these technology platforms address. Financial professionals listed examples such as digital new business application submissions (49%) and online capabilities to track pending business (38%) as digital solutions that would simplify the annuity sales process for themselves and their clients.

“It’s great to see financial professionals embracing technology, as digital tools can help ensure seamless transactions for clients. However, it’s clear there is still a need for more enhanced tools across the industry to make the sales process simpler,” said Craig Hawley, president of Nationwide Annuity. “The good news is this is an area the industry is actively addressing. In fact, it’s one of the reasons Nationwide is configuring and integrating a new policy administration system for our annuity business that will optimize digital business tools and processes, making simplicity a priority, while enabling a more efficient experience for our partners.” 

Financial professionals may be unaware of the ongoing work being led by industry groups like the Insured Retirement Institute that is shaping and defining the annuity industry’s digital standards, leading them to believe their concerns are not being addressed, Hawley said. This may be why two-thirds (66%) of financial professionals told Nationwide they are only somewhat or a little open to exploring new or additional FinTech platforms.

“If financial professionals feel their technology needs are not being listened to, they are going to be less open to trying out new platforms – meaning they may never discover existing financial software that solves challenges they may be facing,” Hawley said. “For example, Nationwide offers an online pending business tracker, as well as access to our annuity products on industry standard electronic order entry platforms. By seeking out and leveraging more digital tools, financial professionals will be able to differentiate themselves from the pack and create a more efficient and personalized experience for clients. He highlighted the following considerations for financial professionals when determining what FinTech tools may best help them sell and service customer accounts:

1. Integration: Look for digital tools that can integrate seamlessly with any existing systems you’re already leveraging or fit well into your sales process. For example, Nationwide offers pre-sale annuity tools to help financial professionals find the best product to fit clients’ needs. This can help build a cohesive, efficient workflow and eliminate disjointed technology use.

2. Scalability: Choose tools that can grow with your business. You want to make sure any digital tools you use can accommodate an increase in clients and operations.

3. User Experience: One of the most important things to consider is how user-friendly the digital tools you’re considering are for both you and your clients. Platforms that are easy to navigate and understand can significantly enhance customer satisfaction. 

“It’s going to be crucial for financial professionals to continue testing new digital solutions to stay ahead of the competition and ensure seamless transactions for clients,” Hawley said. “This is going to be particularly important as more annuity providers adopt fast, modern, streamlined processes for each step in the financial professional and consumer journey. Financial professionals don’t want to risk falling behind as their competitors find ways to make new technology work for their practice.”

About Nationwide’s Annuity Financial Professional Survey
The research was conducted online within the U.S. by Nationwide Mutual Insurance Company and Zeldis Research from September 5-24, 2024, among 504 financial professional respondents. Respondents had to be annuity-producing financial professionals with at least three years of experience as a financial professional.

• An exclusive fund research tool with interactive filters and comparison features for variable insurance trust investment options
• Detailed fund profiles on select underlying investment options
• Thought leadership content
• A rotating array of investment resources to support informed decision-making 

“The hub exemplifies our dedication to digital innovation and simplifying complex topics for financial professionals,” said Kevin Jestice, President of the Nationwide Investment Management Group. “Our goal is to make it easier for financial professionals to help their clients achieve their accumulation goals through best-in-class investment research and comprehensive resources.”

The features of the fund research tool include:

• Fund analysis: Data insights such as YTD return as of previous day market close, expenses, unit values, and Morningstar ratings.
• Custom filters: Financial professionals can customize their experience, compare funds and export fund data to a Microsoft Excel spreadsheet to easily identify funds that meet their clients’ needs.
• Advanced filtering options: Financial professionals can see which funds are available when a specific rider is selected.

To learn more about the tools and resources for financial professionals, visit the investment hub. 

Nationwide Investment Management Group (IMG) is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. IMG provides access to a curated list of investment solutions across asset classes that seek to outperform across market environments using a subadvised model offering access to specialized knowledge and expertise at institutional pricing. IMG holds its managers to the highest performance standards through uncompromising oversight by its nearly 20-person investment research team and provides ongoing market, economic and investment insights to help investors identify opportunities, manage risk and stay informed. 

Learn more about the services Nationwide Investment Management Group provides.

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“Advisors know that employer-sponsored retirement plans aren’t ‘one size fits all.’ That’s why we created Nationwide RetireAssist℠ as a suite of solutions helping advisors recommend a plan that meets the varying needs of their clients and fits well within their own business strategies,” said Rich Porter, senior vice president of Nationwide Retirement Solutions Distribution. “This suite helps position advisors for success with their retirement plans business, meets plan sponsor needs and includes high-touch service and support for participants.”

Nationwide RetireAssist Core℠, designed to appeal to advisors who value a turnkey plan for their clients, offers the following features:

• A competitive, single-priced solution with simplicity that still meets clients’ needs
• Set of 300+ funds to streamline plan set-up and management
• Well suited for smaller plans with less than $10 million in assets

Nationwide RetireAssist Flex℠, designed to appeal to advisors who want options, offers:

• A customizable solution with à la carte options to provide flexibility in plan design and pricing
• An open architecture fund universe with more than 2,000 funds
• Well suited for larger plans between $10 million and $25 million in assets 

Additional solutions will be added to the suite to keep pace with advisor and client needs with the next product focusing on group plans.

Both Nationwide RetireAssist Core℠, and Nationwide RetireAssist Flex℠ provide access to Nationwide’s exceptional service¹ and extensive support team, including dedicated relationship managers, implementation managers and product specialists for advisors, plan sponsors and their TPAs, plus, a U.S. based solutions center with leading hours of availability and financial guidance at no added cost for participants.

More information about Nationwide RetireAssist℠ can be found here.

Nationwide Retirement Solutions is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide Retirement Solutions administers nearly 32,000 retirement plans, helping protect nearly $200 billion in participant assets, and helping secure financial futures for over 2.7 million participants. Nationwide services the highest volume of Governmental 457 plans and demonstrated significant growth in corporate 401(k) and not-for-profit 403(b) markets.² Nationwide is committed to serving the retirement industry by doing the right thing at the right time through better participant experiences, administrative simplicity and values that translate to service. 

Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan participants. 

¹ 2024 DALBAR Plan Participant Service Award
² Plan Sponsor 2024 Recordkeeping Survey

This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.

Retirement Resource Group includes Retirement Specialists and Personal Retirement Counselors. Retirement Specialists are registered representatives of Nationwide Investment Services, member FINRA, Columbus, OH. The information they provide is for educational purposes only and is not legal, tax or investment advice. Personal Retirement Counselors are registered representatives of Nationwide Securities LLC, member FINRA, SIPC, DBA Nationwide Advisory Services LLC in AR, NY, TX and WY. Securities and Investment Advisory Services are offered through Nationwide Securities LLC, member FINRA, SIPC, and a Registered Investment Advisor DBA Nationwide Advisory Services LLC in AR, NY, TX and WY. Representative of Nationwide Life Insurance Company, affiliated companies and other companies.

The Nationwide Group Retirement Series includes unregistered group fixed and variable annuities and trust programs. The unregistered group fixed and variable annuities are issued by Nationwide Life Insurance Company, Columbus, Ohio. Trust programs and trust services are offered by Nationwide Trust Company, FSB. Nationwide Investment Services Corporation, member FINRA, Columbus, Ohio.

Nationwide, the Nationwide N and Eagle, Nationwide is on your side, Nationwide RetireAssist, Nationwide RetireAssist Core and Nationwide RetireAssist Flex are service marks of Nationwide Mutual Insurance Company © 2025 Nationwide

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After multiple record-breaking years, the pension risk transfer (PRT) market saw a drop in activity during the first quarter of 2025, bringing in $7.1 billion in sales compared to the $14.6 billion posted through 1Q of last year, according to LIMRA’s U.S. Group Annuity Risk Transfer Survey. Nationwide’s head of PRT Paula Cole said this isn’t surprising considering the lack of multi-billion-dollar deals that drove the dramatic increase in sales at the beginning of last year. With signs pointing to a smaller market this year, Cole explains what’s behind the dip in sales and what advisors can expect from the industry the rest of the year.

For more insights on the PRT industry, view Nationwide’s latest quarterly PRT Market Commentary.

More than two-in-five (44%) Gen Z investors say they feel behind in their retirement savings goals and are working to catch up. However, Gen Zers are leaning into spending despite long-term financial concerns, with nearly a fifth (17%) saying they are spending more on leisure expenses at this point in their life because they may never be able to retire.

As traditional retirement feels increasingly out of reach, Gen Z is beginning to challenge the very concept of retiring at age 65. Thirty-eight percent believe the standard retirement age of 65 is not relevant to them in today’s economic environment, and approximately half (48%) now plan to work longer, citing remote work as a factor that makes it unnecessary for them to retire at that age. 

Gen Z’s skepticism is rooted in current financial pressures. Four in ten (40%) feel worried about their ability to afford monthly bills over the next 12 months, and nearly half (46%) cited paying down loans and debts (i.e., student loans, credit cards, mortgages, car payments, etc.) as a top financial commitment in that same timeframe.

To further compound this generation’s stress, 77% of Gen Zers are also concerned about a U.S. economic recession over the next 12 months. However, many aren’t taking proactive steps to address that concern – four in ten (40%) currently do not have a strategy in place to help protect their assets against market risk, slightly up from 32% a year ago. Even more troubling, only a fifth (19%) of Gen Z investors say they understand how compounding interest works when investing over time, potentially limiting their ability to build long-term wealth.

“With recent market volatility, it’s not surprising that Gen Z savers are somewhat pessimistic about their financial futures,” said Kristi Martin Rodriguez, leader of the Nationwide Retirement Institute and financial services marketing for Nationwide. “For these young people, retirement may seem like a lifetime away and feel like a very steep mountain to climb. However, something they may not be considering is that they could potentially live decades longer in retirement than prior generations. As a mother of two Gen Z daughters, I’ve been stressing the importance of beginning to save right away so they can leverage their most powerful advantage: A long-term horizon that allows them to maximize the power of compounding interest.”

A New Way of Saving and Investing
Gen Z is taking advantage of new, less traditional financial tools to save their hard-earned cash, no longer relying on legacy financial institutions to grow their money. As a generation raised on modern technology, nearly one in three (32%) Gen Z investors use digital wallets (e.g., Apple Pay or Google Pay) and 30% use peer payment platforms (e.g., Venmo or Zelle) to invest, save or store their money. Additionally, a surprising one in five (19%) say they invest, save or store their money in cryptocurrency or non-fungible tokens.

Gen Z Investors Delay Seeking Professional Guidance
Despite concerns about both the current economic environment and their personal financial standing, many Gen Zers are holding off on seeking professional guidance. A third (33%) of Gen Z investors who don’t pay to work with a financial professional indicated it is because they believe they are too young/early in their retirement planning journey to rationalize pursuing financial advice. Instead, they are turning to more accessible – though not always reliable – sources. A quarter (24%) of Gen Z investors who don’t have a financial advisor indicated it is because they get any necessary financial advice from online financial influencers (“finfluencers”) and social media platforms.

While digital content can be a good starting place when it comes to financial literacy, the absence of professional advice may leave gaps in understanding or strategy. That said, personalization is still a key motivator for this group. More than a third (34%) say an advisor who understands their financial goals at this stage in their life would make them more likely to work with a financial professional.

“It’s great to see Gen Zers seeking out financial literacy from a variety of resources. Knowledge is power, and the more you learn about investing and saving, the better prepared you will be,” Rodriguez said. “However, make sure you’re working with trustworthy sources, including the most reliable source of all: a trusted financial professional.  For those who feel they don’t have the means or assets to do so, many workplace retirement plans offer some great educational tools and resources as well as financial guidance that can be both affordable and impactful.”

Financial Professionals Applaud Gen Z Financial Literacy
Advisors who work with Gen Z clients see a generation that is both cautious and capable. A majority of these advisors (62%) believe that Gen Zers are more financially literate than previous generations.

Advisors have noted they are spending a significant portion of their time educating Gen Z clients on foundational financial topics. Specifically, 42% of advisors are counseling their Gen Z clients most frequently on investing for the first time (e.g., 401(k)s, IRAs and stocks). Additional topics advisors feel are most important for their Gen Z clients include: 

• The importance of starting retirement planning early (54%)
• Basic budgeting and building healthy spending habits (52%)
• Understanding the basics of investing and compounding growth (49%)
• Debt management and strategies for avoidance (49%)

These ongoing conversations suggest that, while Gen Z may feel overwhelmed, many are actively looking to build a solid financial foundation— and advisors see an opportunity to guide them toward long-term success.

“It’s encouraging to see advisors focused on the right things with Gen Z clients. That includes helping them break the ice on saving and investing, while balancing that opportunity with other financial demands including debt and spending on today’s needs,” Rodriguez said. “However, to really connect with this generation of savers, advisors are going to need to lead with empathy. Make sure you are considering Gen Zers’ unique financial situation and listening to understand. Help them recognize the longevity challenges they will likely face, provide them with education and knowledge to make smart financial decisions and arm them with a holistic financial plan that will help ensure they won’t outlive their income in retirement.”

The Nationwide Retirement Institute offers additional resources to help advisors facilitate conversations with clients.

For additional insights on this survey data, see our infographic.

Nationwide’s tenth annual Advisor Authority study powered by the Nationwide Retirement Institute^® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 610 advisors and financial professionals and 2,524 investors ages 18+ with investable assets (IA) of $10K+, January 6-25, 2025. Among the investors, there were 349 Gen Z investors (aged 18-28).

The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within ± 4.0 percentage points and for investors the sample data is accurate to within ± 2.5 percentage points using a 95% confidence level.  This credible interval will be wider among subsets of the surveyed populations of interest.

For complete survey methodology, including weighting variables and subgroup sample sizes, please contact news@nationwide.com.

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

Kadance is a membership program that provides access to advanced DNA-based testing, precision medicine, and expert clinical support to enable proactive, personalized care. It empowers members to make more informed, confident, and actionable health decisions with their doctors based on their genetics.

“Offering our eligible life insurance customers the opportunity to purchase Kadance’s program gives Nationwide a distinctive way to deliver extraordinary care to our policyholders during times they need it most,” said Chuck Bremer, Vice President – Product of Nationwide’s Life Insurance business.

The program is now available for purchase to eligible Nationwide members who own a life insurance policy purchased through a LIBRA Insurance Partners brokerage general agency (BGA).

"Our BGAs continually seek innovative solutions that provide significant value and create opportunities for client engagement," said Bill Shelow, President and CEO of LIBRA Insurance Partners. "Kadance's Precision Health Management Program enhances our offerings and positions our agencies as leaders in delivering next-generation health management solutions."

The Kadance program features:

• Proactive Health Management: DNA-based testing through two key day-one assessments—the Kadance Pharmacogenomic Test, paired with clinical pharmacist consultations to identify the most effective medications and the Kadance Hereditary Cancer Risk Test, which includes genetic counseling to review a personalized risk-reduction plan.
• Precision Cancer Care Management: One-on-one oncology nurse navigation, expert case reviews, comprehensive molecular cancer profiling and clinical trial matching for members diagnosed with cancer.
• Survivorship and Recovery: Continued oncology nurse navigation support, DNA-based recurrence monitoring and additional resources to support life beyond treatment.

Kadance can fill a gap for eligible customers who purchase the program by offering personalized health support and genomic insights outside the limits of traditional insurance coverage, giving each member’s healthcare team the diagnostic resources needed to manage care with greater precision and effectiveness.

"Nationwide giving their customers the opportunity to purchase Kadance’s program marks a meaningful shift in how life insurance can support individuals beyond financial protection," said Darren Rowe, Chief Executive Officer, Kadance, Inc. “Together, our organizations are aligning around a shared commitment to take care of members—not just at the point of claim, but throughout their health journey. By expanding access to precision medicine for those who purchase the program, especially services that are often unavailable or unaffordable through traditional health insurance, we’re helping to close gaps in care and bring personalized support to more people when they need it most."

The Nationwide Lifetime Income Rider+^® (L.inc+) Suite and Nationwide High Point 365^® Select Lifetime Income Rider with Bonus will now offer increased roll up rates – the guaranteed rate at which the annuity income base grows until payouts begin¹. The company is also offering enhanced dollar cost averaging (DCA) rates on variable annuities, a strategy that helps smooth out market fluctuations by allowing consumers to invest a fixed amount of their annuity portfolio at regular intervals, regardless of changing prices. These new rates give financial professionals more options when developing a retirement income plan to meet their clients’ unique needs, helping them navigate turbulent markets.

Nationwide L.inc+ Suite Rates
The roll-up rate on the L.inc+ Suite across Nationwide’s brokerage and advisory annuities will increase by one percentage point to 8%. The riders are available on Nationwide Destination 2.0 and Nationwide Advisory Retirement Income Annuity^SM (NARIA) variable annuities for an additional fee, offering options for income security, additional growth potential for the future or a way to fill an income gap in retirement.

Nationwide High Point 365 Select Lifetime Income Rider with Bonus Rate
The roll-up rate on the High Point 365 Select rider with bonus will increase by one percentage point t0 9.5% when added to Nationwide New Heights Select fixed indexed annuities. High Point 365 Select offers instant income benefit base growth with its 30% bonus² and continued guaranteed growth potential for up to 12 years or when withdrawals begin, whichever comes first. It also offers the opportunity to start lifetime income payments after just one year.

DCA Rates
Nationwide will now offer a 6-month interest rate of 6% and a 12-month rate of 3% when clients choose to use dollar cost averaging with their annuity purchase – some of the highest DCA rates in the market today³. With clients only investing a portion of their annuity in the market at a given time when using a DCA strategy, the remainder stays in a fixed account and accrues interest. With DCA, investors can worry less about market fluctuations and choosing the right time to invest, helping to reduce volatility in their portfolio.

“Americans are in danger of outliving their retirement savings as ongoing volatility compounds the existing challenges of greater longevity and an eroding retirement safety net,” said Craig Hawley, president of Nationwide Annuity. “Nationwide’s enhanced rates offer a range of flexible options for investors’ own unique retirement vision, helping them achieve security and protected income even amidst a shifting economic environment. One of the upsides of high interest rates is that they allow us to produce better consumer value on almost all types of annuities – and it’s never been better for lifetime income.”

Financial professionals interested in Nationwide’s lifetime income riders or DCA rates should contact their Nationwide wholesaler, call the National Sales Desk at 800-321-6064 or visit https://nationwidefinancial.com/products/annuities/variable/destination-b-2/rider-lifetime-income-rider-plus or https://nationwidefinancial.com/products/annuities/fixed-indexed/new-heights-select-8/optional-riders to learn more.

¹ Roll-up rates are guaranteed increases to the rider’s income benefit base. Increases are credited on the first 10 contract anniversaries or the first withdrawal for L.inc+ riders. On the High Point 365 rider, the Minimum Income Benefit Value will continue to grow daily at a 9.5% compound annual rate until the earlier of 12 years or until lifetime income withdrawals begin.

² A 30% bonus calculated on the purchase payment will be added to the Minimum Income Benefit Value at contract issue.

³ Morningstar Fixed Rate analysis, April 2025

“Nationwide has a history of innovation in the annuity industry, launching the first variable annuity using unaffiliated mutual funds in 1980, which was a game changing product development that was quickly imitated by the industry at large,” said Craig Hawley, president of Nationwide Annuity. “We’re excited to build on our partnership with Capital Group to take that innovation one step further, offering strategies that will index to their highly respected American Funds Growth Fund of America mutual fund in our DPA 2.0 annuity. DPA’s unique features, built in partnership with Annexus, combined with Capital Group’s investment strength, will allow investors to pursue growth and protect against downside risk.”

American Funds Growth Fund of America is an actively managed mutual fund that offers a flexible approach to growth investing. The fund seeks opportunities in traditional growth stocks as well as cyclical companies and turnaround situations with significant potential for growth of capital to help investors pursue their long-term goals. Growth Fund of America distinguishes itself through Capital Group’s distinct multi-manager system, with a team of 12 portfolio managers averaging 27 years of experience.

“In our 11^th year of partnership with Nationwide, I am excited about another first-to-market innovation that includes an actively managed American Funds mutual fund from Capital Group to a RILA,” said Ron Shurts, CEO of Annexus. “Defined Protection Annuity 2.0 will now offer strategies that provide upside potential based on the total return of American Funds Growth Fund of America with access to three protection levels to help limit losses.”   

Created in collaboration with Annexus, DPA 2.0 features daily protection and floor levels, numerous index strategies and free withdrawals. It comes with a customizable selection of protection levels: 90%, 95% and 100%. The 90% and 95% options offer the potential for greater performance, while the 100% option provides complete principal protection from market losses. The product’s combination of features make it uniquely positioned to succeed with financial professionals and their clients in today’s environment.

“We are thrilled to partner with Nationwide and Annexus to offer American Funds Growth Fund of America in this innovative RILA solution,” said Melissa Buccilli, head of Insurance Strategy and Product at Capital Group. “We continue to look to expand access to our investment capabilities in innovative new ways within the annuity marketplace to help even more investors pursue their long-term investment goals.”

Financial professionals interested in Nationwide DPA 2.0 should contact their Nationwide wholesaler or call the National Sales Desk at 1-800-321-6064. Individual investors interested in learning more about the benefits of DPA 2.0 should contact their financial professional or visit www.definedprotection.com.

¹ American Funds Growth Fund of America – Class F-3 is not a market index. It is a mutual fund, and its index value reflects the mutual fund’s total return. If a mutual fund-linked index strategy is selected for investment, you will not be investing in the linked mutual fund. You will not be a shareholder or beneficial owner of the fund and you will have no rights with respect to the fund.
² Annuity Genius Research, 3/13/2025

Nationwide Investment Management Group (IMG) is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. IMG provides access to a curated list of investment solutions across asset classes that seek to outperform across market environments using a subadvised model offering access to specialized knowledge and expertise at institutional pricing. IMG holds its managers to the highest performance standards through uncompromising oversight by its nearly 20-person investment research team and provides ongoing market, economic and investment insights to help investors identify opportunities, manage risk and stay informed. With more than $74 billion assets under management, IMG offers 151 investment products, including 46 4- and 5-star Morningstar-rated funds as of March 2024.

Learn more about the services Nationwide Investment Management Group provides.

Call 800-848-0920 to request a summary prospectus and/or a prospectus, or download prospectuses at nationwide.com/mutual-funds-prospectuses.jsp. These prospectuses outline investment objectives, risks, fees, charges and expenses, and other information that you should read and consider carefully before investing.

© 2025 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Nationwide Funds distributed by Nationwide Fund Distributors LLC (NFD), member FINRA, Columbus, Ohio.

Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2025 Nationwide

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For more insights on the PRT industry, view Nationwide’s latest quarterly PRT Market Commentary.

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03/2025

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03/2025

Recent research from the Nationwide Retirement Institute revealed that 86% of plan sponsors think their workers are satisfied with their company’s retirement offerings, but only 62% of employees agree with that sentiment. The research highlights perception gaps related to retirement readiness between plan sponsors and participants and points to actions employers can take to help close them – including addressing the retirement income challenge.  

Read more from Nationwide’s Protected Retirement leader, Cathy Marasco, on the Advisor Advocate blog.  

Nationwide’s updates to the L.inc+ suite include raising the equity exposure on Nationwide Lifetime Income Rider+ Core (L.inc+ Core) and increasing fund access through the Custom Choice program. These changes are available when purchased on Nationwide Destination All American Gold 2.0, Nationwide Destination B 2.0 and Nationwide Destination Navigator 2.0 variable annuities for an additional fee.  

L.inc+ Core Equity Exposure Increase
The maximum equity exposure on L.inc+ Core will increase 10 percentage points to 70%, providing financial professionals with more choices for crafting retirement income solutions that meet their clients’ specific needs. L.inc+ Core is for investors seeking consistent and predictable retirement income that will not decrease even if their contract value goes to zero.

Investment Lineup Enhancements
Nationwide’s Custom Choice program will offer more access to specialized funds for investors who add a L.inc+ rider to their variable annuity, providing them with even greater investment flexibility. Custom Choice allows investors to select from more than 110 funds to build their own portfolio when paired with L.inc+ Core, Nationwide Lifetime Income Rider+ Accelerated (L.inc+ Accelerated), Nationwide Lifetime Income Rider+ Max (L.inc+ Max) or Nationwide Lifetime Income Rider+ Empire in New York. Additionally, L.inc+ Accelerated and L.inc+ Max will now allow investments in any combination of funds with no restrictions.

“At Nationwide, we don’t believe investors should have to choose between growth potential or income when planning for retirement, which is why we’re focused on offering variable annuities with strong investment lineups that provide access to full menus even when an income rider is selected,” said Mike Morrone, vice president of Nationwide Annuity business development. “One of the upsides of high interest rates is that they allow us to produce better consumer value on almost all types of annuities – and it’s never been better for lifetime income on variable annuities. For investors who can’t afford to hope for the best in an uncertain future, annuities paired with riders that offer guaranteed income can be a great solution to help them protect their financial future.”

These new enhancements reinforce Nationwide’s mission to provide customer-focused solutions, strengthening the L.inc+ suite originally launched in March 2020. The suite allows financial professionals to create tailored income solutions to meet their clients’ unique retirement needs with a variety of payout options, equity exposures and flexible features.

Financial professionals interested in the Nationwide L.inc+ suite should contact their Nationwide wholesaler, call the National Sales Desk at 800-321-6064 or visit https://nationwidefinancial.com/products/annuities/variable.

About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide is rated A+ by 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; and pet, motorcycle and boat insurance.

All guarantees and protections are subject to the claims paying ability of Nationwide Life Insurance Company.

You may be charged a penalty if you take your money out early, if you're not yet 59½ (additional 10% tax penalty), or both. Variable annuities have fees and charges that include mortality and expense, administrative fees, contract fees and the expense of the underlying investment options.

Variable annuities are issued by Nationwide Life Insurance, Columbus, Ohio. The general distributor is Nationwide Investment Services Corporation, member FINRA, Columbus, Ohio.

For more information, visit www.nationwide.com.

Subscribe today to receive the latest news from Nationwide and follow Nationwide PR on X.

Nationwide, Nationwide is on your side, the Nationwide N and Eagle, Nationwide Destination, Nationwide Lifetime Income Rider+ and L.inc+ are service marks of Nationwide Mutual Insurance Company. © 2025

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01/2025

As they consider whether or not relocating will improve their retirement finances, 32% of all investors do not believe their current location makes sense financially as a place to retire, led by those in the Northeast (41%) and West (37%) who often face higher tax burdens. About one in six investors (16%) across the country say they will be forced to relocate to a more affordable region due to cost of living in their area. Additionally, 41% of non-retired investors expect to retire at 66 or later, with Northeasterners (47%) being slightly more likely to share this view.

“While it’s clear that investors across America are facing many of the same challenges, their attitudes and actions may look a little different, depending on where they live,” said Eric Stevenson, president of Nationwide Retirement Solutions. “Between inflation and a lack of savings, many pre-retirees are likely feeling they don’t have enough to make a traditional retirement work. Our survey provides great insights to help advisors, financial professionals and plan sponsors across the country understand these investors and tailor their approach to meet their personalized needs.”

Investors in the Northeast Feel the Burden of High Living Costs
While many Northeastern investors remain optimistic about their retirement prospects, high living costs are prompting significant financial lifestyle changes before they leave the workforce.

Nearly half (46%) of Northeasterners describe their financial outlook for the next 12 months as optimistic. These investors indicated they had a median retirement savings of about $250,000. However, 20% expect to relocate to a more affordable region in retirement due to the cost of living, surpassing the national average of 16%.

One in four Northeastern investors (25%) anticipate working in retirement to supplement their income out of necessity due to cost of living, and 19% of non-retired Northeasterners say they might withdraw money from retirement savings prematurely to afford cost of living if they retired in the next 12 months.

According to Nationwide Retirement Solutions participant data across corporate, nonprofit and government sectors, some plan participants in the Northeast took potentially adverse actions with their 401(k) or 403(b) plans in 2024. Participants in this region had the second highest level of contribution stops and the lowest number of contribution increases among all regions.¹

Inflation, Smaller Nest Eggs Impact Retirement Confidence in the Midwest  
Inflation remains a key concern for Midwest investors, with only 41% saying they were optimistic about their 12-month financial outlook – the lowest of all regions. Survey respondents also reported the smallest nest eggs of about $200,000.

While Midwest investors may be the most pessimistic, they also are the least likely to make financial lifestyle changes – perhaps due to the generally lower cost of living and taxes in their region. Just 32% of Midwesterners say they plan to work beyond age 65 – the smallest share of any region. Only 11% expect the cost of living in their area to force them to relocate to a more affordable region for retirement, well below the national average.

Nationwide Retirement Solutions plan participants across corporate, government and non-profit sectors in this region had the highest level of contribution increases to defined contribution plans in 2024, likely positioning themselves for better financial security over time.¹

Southern Investors Confident but Expect to Work Longer
While 43% of Southern investors express an optimistic financial outlook for the next 12 months, they share many of the same concerns as the rest of the country.

Nearly three in 10 (27%) non-retired Southerners expect to delay retirement and 39% say they would need to continue working in some capacity to supplement their income if they retired in the next 12 months. Further, 62% believe the norm of retiring at 65 doesn’t apply to people like them, while 72% say living costs will impact their ability to retire. Southern survey respondents indicated they held a median retirement savings of $250,000.

Nationwide Retirement Solutions participant data across corporate, government and non-profit sectors shows participants in the Southern region were most likely among all regions to take hardship withdrawals from their 401(k) or 403(b) plans in 2024, a move that could have a long-term impact on their financial future.¹

Larger Savings Fuels Financial Confidence in the West

More than four in 10 (44%) investors in the West feel optimistic about their financial outlook in the next 12 months. What’s more, investors in this region indicated the highest median level of savings of all regions, at about $300,000.

However, inflation weighs on Western savers, with seven in 10 (69%) saying the cost of living will impact their ability to retire, and about 31% saying their current state or city is not the place they want to be in retirement.

Nationwide Retirement Solutions plan participant data across public, private and non-profit sectors shows Western savers took some potentially adverse actions in 2024, with higher levels of contribution stops and decreases in their 401(k) or 403(b) plans when compared to other regions.¹

Advisors Help Clients Prepare for Financial Challenges
Advisors across the country are bracing for financial adversity, with 78% expressing concern about a U.S. economic recession over the next 12 months. Inflation tops the list of client concerns over the next 12 months, cited by 34% of advisors, with regional variations: Advisors said inflation concerns among clients were highest in the Northeast and Midwest (36% each), followed by the South (34%), and West (29%).

Tax planning and retirement savings remain top priorities across regions. Advisors frequently discuss tax planning strategies (Northeast 33%, Midwest 37%, South 37%, West 33%) and accumulating sufficient savings to enter or stay in retirement (Northeast 27%, Midwest 31%, South 32%, West 33%) with their clients.

Advisors are also emphasizing retirement timing and long-term care with clients. They say they are frequently talking to clients about when they are financially ready to retire (41% West, 33% Northeast, 37% Midwest, 32% South), and considering long-term care solutions (34% West, 22% Northeast, 21% Midwest, 24% South).

Advisors are largely unified in the solutions they use to help clients protect their assets against market risk, widely using annuities, with advisors in the Midwest (85%) and West (78%) most frequently incorporating them into client plans.

“It’s good to see advisors tuned into the needs of their clients who are thinking about relocating in retirement. Advisors have an opportunity to help these clients consider factors like tax implications, healthcare needs and availability, and community support to make a more informed decision about whether or where they should relocate,” Stevenson said. “To help ease worries about long-term financial security, I'd also encourage advisors to continue exploring protection and income solutions like annuities. Many employer-sponsored retirement plans across the country are now offering solutions that protect against volatility and guarantee income in retirement as well. Advisors also have a great opportunity to help their plan sponsor clients understand the value of including these solutions as an investment option within their plan to help participants feel more confident about their financial future.”

The Nationwide Retirement Institute offers additional resources to help advisors facilitate conversations with clients.

For additional insights on this survey data, see our infographic.

Nationwide’s tenth annual Advisor Authority study powered by the Nationwide Retirement Institute^® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 610 advisors and financial professionals and 2,496 investors ages 18+ with investable assets (IA) of $10K+, August 26-September 13, 2024. Among investors, there were 492 Northeasterners, 463 Midwesterners, 990 Southerners, and 551 Westerners. Among advisors, there were 135 Northeasterners, 137 Midwesterners, 195 Southerners, and 143 Westerners. The respondents were grouped into each region based on the state they indicated living in.

Regional cuts described in this study are defined as follows:

• Northeast: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New Jersey, New York, Pennsylvania
• Midwest: Illinois, Indiana, Michigan, Ohio, Wisconsin, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota
• South: Delaware, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, Washington, D.C., West Virginia, Alabama, Kentucky, Mississippi, Tennessee, Arkansas, Louisiana, Oklahoma, Texas
• West: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming, Alaska, California, Hawaii, Oregon, Washington

Respondents for this survey were selected from among those who have agreed to participate in our surveys.   The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data for advisors is accurate to within + 4.0 percentage points and for investors the sample data is accurate to within + 2.5 percentage points using a 95% confidence level.  This credible interval will be wider among subsets of the surveyed populations of interest. The sample data for the subset of pre-retiree investors age 55-65 who are not retired is accurate to within + 6.7 percentage points using a 95% confidence level. 

For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Kristen Vasas-Samson.

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

The new distribution partnership will provide Nationwide with access to Integrity’s network of financial professionals and broaden Integrity’s diverse portfolio with Nationwide Smart Credit, a digital and streamlined SBLOC that unlocks the value of investors’ non-retirement portfolio without disrupting their investment strategy.

Key features of Nationwide Smart Credit include:

• Rapid speed to cash: Line requests processed in just hours or days versus weeks.
• High advance rate: The values allowed for equities, bonds, cash and other securities exceed those of many other lenders.
• Lower interest rates: Using a Secured Overnight Financing Rate (SOFR) based spread, interest rates are below standard alternatives.
• Lower minimum line amounts: A competitive minimum line amount of $25,000 allows advisors to serve a wider client base.
• End-to-end technology: A fully automated, easily accessible process from origination through the life of the line, including a self-service client portal.

“Integrity is a highly respected and well-known firm with culture, values and business goals that align closely with Nationwide. We’re excited to partner together to create opportunities for both of us to deliver valuable solutions to more customers,” said Juan José (JJ) Pérez, president of Nationwide Corporate Solutions. “This partnership demonstrates our commitment to offering a broad suite of solutions that enable advisors and financial professionals to provide more options to meet the specific needs of their clients.”

With an extensive network of wealth advisors across all 50 states, Integrity provides access to comprehensive capabilities within partner affiliates to expand integrated solutions. As part of their holistic approach to life, health and wealth protection, they offer end-to-end innovative technology and resources designed to help advisors work more efficiently and anticipate consumer needs. Integrity is also a leader in insurtech, offering a scalable, cloud-based technology suite that helps humanize and improve the insurance and financial services experience for everyone.

“Together, Nationwide and Integrity are offering business owners and consumers the ability to remain nimble when cash is needed, whether it’s taking advantage of an opportunity, making a strategic business decision or fulfilling an unexpected financial obligation,” said Craig Walling, president of Integrity Wealth. “Clients gain confidence and peace of mind knowing they have a competitive and seamless option available from their trusted advisor or agent who already understands the full spectrum of their financial wellbeing. Competitive rates, faster speed to cash and lower minimum line amounts show that Nationwide and Integrity are truly keeping the borrower’s needs top of mind. This partnership is another way Integrity is reshaping the often-siloed services of insurance and finance into a more holistic picture that addresses a lifetime of client needs.”

In addition to providing advisors with a simple SBLOC that makes accessing funds easier for their clients, Nationwide is also helping them demonstrate the value of SBL as a solution with an innovative cost comparison calculator. The calculator is available to all financial professionals in the market, providing quick side-by-side comparisons for clients who are seeking smart solutions for cash, whether they are looking for a way to pay for an unexpected expense or a personal goal.

Debra Griffin, vice president of Nationwide SBL, added, “As a company dedicated to making access to cash simpler for both advisors and their clients, we’re thrilled to partner with Integrity to provide advisors with both solutions and tools that can help address their clients’ liquidity needs.”

To learn more about Nationwide Smart Credit, visit www.nationwidefinancial.com/smartcredit.

About Integrity
Integrity, headquartered in Dallas, Texas, is a leading distributor of life and health insurance, and provider of innovative solutions for wealth management and retirement planning. Through its broad partner network of agents and advisors, Integrity helps millions of Americans protect their life, health and wealth with a commitment to meet them wherever they are — in person, over the phone and online. Integrity’s proprietary, cutting-edge technology helps expand the insurance and financial planning experience for all stakeholders using an omnichannel approach. In addition, Integrity develops products with carrier partners and markets them compliantly through its nationwide distribution network. Providing best-in-class service to their clients and consumers is at the center of Integrity’s holistic approach to life, health and wealth protection. The company and its partners focus on helping families and individuals prepare for the good days ahead, so they can make the most of what life brings. For more information, visit www.integrity.com.

• Marketing Team of the Year: This award recognized Nationwide Investment Management Group (IMG) Marketing for achievements and excellence in digital innovation, cross-channel marketing, display advertising, product marketing, webinars, events and overall collaboration that drove business results.  
• Advisor Content Product Award: Also awarded to IMG Marketing, this award recognized the strategy, execution and strong results of product marketing for the Nationwide Amundi Strategic Income Fund.
• Advisor Content Education Award: Awarded to Nationwide Financial Brand Marketing for creating an immersive, avatar-based educational experience to enable attendees to engage with educational content, experts, and each other, delivering tangible value beyond products and services. The award-winning seminar was built through robust collaboration between Morgan Stanley and Nationwide’s Marketing, Innovation and Technology teams, leveraging thought leadership from the Nationwide Retirement Institute®.

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In partnership with Annexus, a leading independent insurance retirement product design company, Nationwide is adding the Loomis Sayles Discovery Index and the Nasdaq-100 Volatility Control 10% PR™ Index to New Heights Select FIAs this month. Investors can now select from seven index options when purchasing one of the FIAs, providing choices to help them protect and grow their retirement savings.

“The launch of these indices within the New Heights Select suite marks another milestone in our 10-year partnership with Annexus,” said Mike Morrone, vice president of Nationwide Annuity business development. “We’re proud to continue building upon that partnership, providing solutions that offer greater growth potential and principal protection at a time when investors need it most.”

Ron Shurts, CEO and co-founder of Annexus, added, “The addition of these two indices enhances the diversification opportunities for advisors and their clients within New Heights Select FIAs. The indices are more growth focused and have low correlation, making them a good compliment to the other indices in the portfolio.”

The Loomis Sayles Discovery Index

The Loomis Sayles Discovery Index is a growth-oriented index that, based on the market forecast, dynamically allocates between U.S. growth and value equities and applies two alternative strategies to reduce the impact of changing interest rates and inflation.

“This is the second Loomis Sayles index in an Annexus-designed product, and we are thrilled to be expanding on our partnership — and to enter into a new collaboration with Nationwide,” said Kevin Charleston, chairman, CEO and president of Loomis Sayles. “Our team has developed an index that uses advanced mathematical techniques, including alpha generation, dynamic portfolio construction and solutions development, to anticipate the health of the equity market and make strategic reallocations.”

The Nasdaq-100 Volatility Control 10% PR Index

The Nasdaq-100 Volatility Control 10% PR Index captures equity performance from the Nasdaq-100 Index^® while targeting a 10% level of volatility. To accomplish this, the Index uses the truVol^® Risk Control Engine, a proprietary risk management tool to monitor intraday trading data and shifts exposures more heavily to cash during periods of heightened volatility above the target¹. The Nasdaq-100 is a globally recognized index is composed of 100 of the largest non-financial companies listed on the Nasdaq Stock Market^®.

Financial professionals interested in New Heights Select should contact their Nationwide wholesaler or Annexus-affiliated independent distribution company. Individual investors interested in learning more about the benefits of New Heights Select should contact their financial professional or visit www.nationwidenewheights.com.

¹ The truVol^® Risk Control Engine was designed by Salt Financial, LLC.

About Annexus

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. Annexus has forged relationships with many of the industry’s leading insurance carriers and the world’s largest investment banks. Find out more about Annexus and its products.

About Loomis Sayles

Since 1926, Loomis, Sayles & Company has helped fulfill the investment needs of institutional and retail clients worldwide. The firm’s performance-driven investors integrate deep proprietary research and risk analysis to make informed, judicious decisions. Teams of portfolio managers, strategists, research analysts and traders collaborate to assets market sectors and identify investment opportunities wherever they may lie, within traditional asset classes or among a range of alternative investments. Loomis Sayles has the resources, foresight and the flexibility to look far and wide for value in broad and narrow markets in its commitment to deliver attractive, risk-adjusted returns for clients. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages $388 billion* in assets (as of 30 September 2024). Read more about Loomis Sayles.

*Includes the assets of both Loomis, Sayles & Co., LP, and Loomis Sayles Trust Company, LLC. Loomis Sayles Trust Company is a wholly owned subsidiary of Loomis, Sayles & Company, LP.

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 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; and pet, motorcycle and boat insurance.

For more information, visit www.nationwide.com.

Subscribe today to receive the latest news from Nationwide and follow Nationwide PR on X.

Nationwide, Nationwide is on your side, the Nationwide N and Eagle and Nationwide New Heights Select are service marks of Nationwide Mutual Insurance Company. © 2024

Nasdaq^®, the Nasdaq-100 Index^®, the Nasdaq-100^® and the Nasdaq-100 Volatility Control 10% PR™ Index are trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Nationwide. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

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10/2024

This year marks a historic milestone: More Americans will turn 65 than ever before, with roughly 12,000 people a day reaching the age most target for retirement. While many of these individuals aged 60-65 are confidently stepping into retirement, others have valuable lessons to share on avoiding common pitfalls.

Advice to younger selves

When asked what advice they would give their younger selves about planning for long-term care needs, individuals aged 60-65 highlighted three key pieces of wisdom related to planning for long-term care expenses:

1. Start saving financially earlier (53%): More than half emphasized the importance of beginning to save for long-term care earlier. Starting early can significantly ease the burden later in life.
2. Start planning earlier (32%): Nearly a third stressed that alongside saving, early planning is important. This involves understanding potential long-term care needs and exploring options well in advance.
3. Do not assume you will always be healthy enough to be approved for coverage (27%): More than a quarter cautioned against the assumption that you will always be healthy enough to be approved for long-term care insurance coverage. Life is unpredictable, and preparing for all possibilities is essential.

Other notable advice included: not assuming you will never need long-term care (25%), purchasing long-term care insurance (20%), and working with a financial professional to create a plan for long-term care costs (19%).

Concerns about long-term care

The survey also revealed significant concerns among respondents regarding long-term care:

• Becoming a burden (47%): Nearly half express worry about becoming a burden to their families as they get older.
• Desire to compensate family caregivers (37%): Many would like to compensate family members who provide long-term care, recognizing the financial toll caregiving can take.
• Concerns about paying for care (26%): A significant portion is concerned about their ability to pay for long-term care for themselves or their partner.
• Impact on children’s inheritance (25%): Some worry that paying for long-term care will diminish the inheritance they can leave for their children.

The importance of early planning

These insights underscore the importance of early and proactive planning for long-term care. By starting to save and plan early, discussing needs with family, and considering long-term care insurance, individuals can better prepare for the future and alleviate potential burdens on their loved ones.

“The wisdom shared by those nearing retirement is invaluable,” said Holly Snyder, president of Nationwide’s life insurance business. “Their experiences remind us that it is never too early to start planning for long-term care. By taking action now, we can help mitigate future challenges and provide greater security for our families.”

While financial professionals are key and can support retirement savers in creating a robust plan for their long-term care needs, the first step is talking about long-term care with their family.

“Thanksgiving is an ideal time to have these important conversations with family,” Snyder noted. “Gathering together provides a natural opportunity to discuss long-term care planning and ensure everyone is on the same page about future needs and wishes.”

Methodology

The research was conducted online in the United States by The Harris Poll on behalf of Nationwide among 1,334 adults ages 28+ with household income of $75K+ -- including 263 aged 60 to 65. The survey was conducted March 12 – April 2, 2024.

Data are weighted where necessary by age by gender, race/ethnicity, region, education, marital status, household size, household income, and political party affiliation to bring them in line with their actual proportions in the population. Respondents for this survey were selected from among those who have agreed to participate in our surveys.

The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 3.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.

About The Harris Poll

The Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 and is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within ± 3.2 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.

About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide is rated A+ by 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, mutual funds; excess & surplus, specialty, and surety; and pet, motorcycle, and boat insurance.

For more information, visit www.nationwide.com.

Nationwide representatives celebrated partner recipients as they accepted their honors at the 2024 NAGDCA Leadership Recognition Award ceremony which took place during the association’s annual conference in Phoenix, September 15-18. 

The Maryland Teachers and State Employees Supplemental Retirement Plans (MSRP) won in the Plan Design & Administration category for its Catch the Match Campaign and also captured the Members’ Choice award.  

Photo ID, from left: Tom Hickey (MSRP), Ronda Bell Butler (MSRP), Tonya Toler (MSRP), Daniel Wrzesien (Nationwide) 

The State of California Savings Plus also received two awards. The State’s Virtual Adventure Center was recognized in the Holistic Financial Wellness category for its 3D virtual benefit fair. The State’s Participants Save Campaign won in the Participant Education & Communication category.  

Photo ID, from left: Brenda Anderson (Nationwide), Gina Eversley (CA SPP), Sandy Blair (CA SPP), Sarah Reeder (CA SPP), Jake Sours (Nationwide) 

The New York State Deferred Compensation Plan (NYSDCP) won in the National Retirement Security Month category for its National Retirement Security Campaign. 

Photo ID, from left: Ric Whetro (Nationwide), Brenda Anderson (Nationwide), James Reeves (NYSDCP), Sharon Lukacs (NYSDCP), Diana Jones Ritter (NYSDCP), Patrick Ray (Nationwide) 

The State of Indiana won in the Participant Education & Communication category for its Hoosier START Beneficiary Campaign. 

Photo ID, from left: Kevin Mitchell (Nationwide), John Archer (Nationwide), Britton Stucker (Hoosier START), Emily Boesen (Hoosier START), Michael Burkhart (Nationwide) 

The Ohio Deferred Compensation won in the Participant Education & Communication category for its Enhanced Webinar Education Campaign.  

Photo ID, from left: Cindy Ward, Paul Miller (both Ohio DC)

“Congratulations to all our partners for these well-deserved honors,” said Amelia Dunlap, vice president of marketing for Nationwide Retirement Solutions. “We’re proud to support these important plans and their creative efforts to engage participants and help them prepare for a more secure retirement.” 

Nationwide Retirement Solutions is a business within Nationwide, a Fortune 100 company based in Columbus, Ohio, that is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide Retirement Solutions administers nearly 32,000 retirement plans, helping protect nearly $200 billion in participant assets, and helping secure financial futures for over 2.7 million participants. Nationwide services the highest volume of Governmental 457 plans and demonstrated significant growth in corporate 401(k) and not-for-profit 403(b) markets.¹ Nationwide is committed to serving the retirement industry by doing the right thing at the right time through better participant experiences, administrative simplicity and values that translate to service.   

Visit nrsforu.com for more information about the tools and services Nationwide provides to retirement plan sponsors and plan participants.  

¹ Plan Sponsor 2024 Recordkeeping Survey 

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According to a new survey by the Nationwide Retirement Institute^®, retired investors are reprioritizing their non-essential expenses to make ends meet in the wake of economic constraints. Nearly four in ten (39%) are spending less on entertainment to meet financial commitments in today’s economic environment, and more than a third (34%) are taking fewer trips or vacations.

Additionally, long-term debt is also continuing to weigh on retirees, with 26% of retired investors continuing to pay off their mortgage, and 25% still paying down credit card debt. With everyday financial obligations remaining a concern for retirees, many expect to be less secure in their retirement than their parents and grandparents were, according to Nationwide’s survey.

“The picture of life after retirement has changed for many people as economic stressors continue to weigh on retired investors, but that doesn’t mean retirees can’t enjoy a quality life in retirement,” said Mike Morrone, Vice President of Nationwide Annuity Business Development. “If you don’t already have one, turn to an advisor or financial professional to build or update your long-term strategy, helping you protect your assets and achieve financial security.”

According to Nationwide’s survey, over one-third (37%) of retired investors don’t have a strategy in place to protect their assets against market risk. By working with an advisor to use solutions like annuities, which can help protect against outliving savings, retirees can have confidence in their financial stability, which may make it easier to consider doing the things they enjoy in retirement, Morrone said.

Financial advisors can also help retirees increase their financial knowledge and think about what they want to happen with their assets at the end of their life. More than half (59%) of advisors say their clients are confirming beneficiary designations to prepare their heirs for the transfer and management of wealth, with another 54% saying their clients are reviewing or creating estate planning documents – planning needs that will help retirees prepare for the Great Wealth Transfer. Additionally, 44% of advisors said they are working with their clients to build financial confidence and knowledge, helping them feel more positive about their choices in retirement.

“Advisors recognize and acknowledge retirees’ desire to avoid making the wrong moves in retirement,” Morrone said. “They can help you feel more confident about your retirement plans by working with you to understand your goals and anxieties, and help you protect your savings and plan for income you won’t outlive.”

For help finding a financial professional, visit https://www.nationwide.com/personal/investing/find-financial-professional/.

This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.
Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved.
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07/2024

Nearly one-third (31%) of retirees expect to be less secure in their retirement than their parents and grandparents were, according to Nationwide’s ninth annual Advisor Authority study, powered by the Nationwide Retirement Institute^®.

This feeling of uncertainty among retirees is compounded by the fact that everyday financial obligations remain a concern – more than one in five (22%) retired investors worry about affording their monthly bills.

Retirees Reevaluate Financial Commitments
The transition to life after retirement demands crucial shifts, including the prioritization of financial commitments. In addition to short-term financial obligations like basic living expenses, long-term debt continues to weigh on retirees, with 26% of retired investors continuing to pay off their mortgage, and 25% still paying down credit card debt.

While most American savers dream of a retirement of leisure and travel, retired investors are adjusting their priorities to make ends meet in the wake of economic constraints. Nearly four in ten (39%) retired investors are spending less on entertainment to meet financial commitments in today’s economic environment, and more than a third (34%) are taking fewer trips or vacations.

To compensate further, 22% of retired investors are drawing more funds from retirement accounts, intensifying the traditional decumulation stage.

“The picture of life after retirement has changed for many people as economic stressors continue to weigh on retired investors,” said Mike Morrone, Vice President of Nationwide Annuity Business Development. “Now is the time for advisors and financial professionals to check in with their clients and help them remain calm, nimble and informed in the face of continued economic headwinds, ensuring the plan they have in place continues to position them for a secure retirement.”

Strategies Vary for Investors Already in Retirement
To account for financial headwinds, retirees are bolstering their plans. Nearly two in three (63%) retired investors have a strategy in place to protect their assets against market risk, up from 54% last summer.

However, these retirement plans look radically different from the plans of generations past. Some retirees (12%) are abandoning the 70-80% spending rule (i.e., ensuring they have 70-80% of their pre-retirement income per year in retirement) and 11% are casting aside the 4% rule (i.e., withdrawing 4% of their retirement portfolio each year when retired).

Retired investors are also initiating conversations about legacy planning and wealth transfer with their heirs. Nearly a third (32%) of retirees are discussing wishes for end of life (long-term care expenses, funeral preferences, etc.), and 34% are discussing financial details of their estate with heirs.

Financial Advisors Guide Clients Toward Retirement Security
Advisors are supplying their clients with the guidance needed to help achieve financial security in retirement, counseling their retired clients on how to generate guaranteed income (23%), prioritizing wants vs. needs (21%) and supplementing income out of necessity (16%).    

Advisors are also helping investors plan for lingering financial commitments, such as mortgage repayments, which more than a third (34%) of advisors say their clients are planning to continue paying in retirement.

With the Great Wealth Transfer underway, advisors are helping clients – and their heirs – prepare. More than half (59%) of advisors say their clients are confirming beneficiary designations to prepare their heirs for the transfer and management of wealth. Another 54% say their clients are reviewing or creating estate planning documents, and 44% are building financial confidence and knowledge.

“Advisors are recognizing and acknowledging investors’ desire to avoid making the wrong moves in retirement,” Morrone said. “They can help clients feel more confident about their retirement plans by understanding their goals and anxieties, and helping them protect their savings and plan for income they won’t outlive by reinforcing the value of different retirement solutions and products, like annuities.”

For additional insights on this survey data, see our infographic.

Nationwide’s ninth annual Advisor Authority study powered by the Nationwide Retirement Institute^® explores critical issues confronting advisors, financial professionals and individual investors—and the innovative techniques that they need to succeed in today’s complex market.

About Advisor Authority: Methodology
The research was conducted online within the U.S. by The Harris Poll on behalf of Nationwide from January 8-23, 2024, among 518 advisors and financial professionals and 2,346 investors ages 18+ with investable assets (IA) of $10K+. Investors included a subset of 391 “pre-retirees” age 55-65 who are not retired, and subsets of 346 single women and 726 married women.

Weighting: Raw data from advisors were not weighted and are therefore only representative of the individuals who completed the survey. Investor data are weighted where necessary by education, age by gender, race/ethnicity, region, marital status, household size, employment, household income, investable assets, and propensity to be online to bring them in line with their actual proportions in the population.  To ensure the investor sample was representative, the data were initially weighted separately for those with investable assets of $10K to less than $100K and those with $100K+ and then post-weighted/combined into a total investor group. Data for the subset of pre-retirees age 55-65 who are not retired were weighted separately as needed by education, age by gender, race/ethnicity, region, marital status, household size, employment, household income and investable assets.   

Respondents for this survey were selected from among those who have agreed to participate in our surveys.   The sampling precision of Harris online polls is measured by using a Bayesian credible interval.  For this study, the sample data is accurate to within + 2.8 percentage points using a 95% confidence level.  This credible interval will be wider among subsets of the surveyed population of interest. The sample data for the subset of pre-retirees age 55-65 who are not retired is accurate to within + 6.2 percentage points using a 95% confidence level. 

All sample surveys and polls, whether or not they use probability sampling, are subject to other multiple sources of error which are most often not possible to quantify or estimate, including, but not limited to coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments.

About The Harris Poll
The Harris Poll is one of the longest running surveys in the U.S. tracking public opinion, motivations and social sentiment since 1963 that is now part of Harris Insights & Analytics, a global consulting and market research firm that delivers social intelligence for transformational times. We work with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. Our mission is to provide insights and advisory to help leaders make the best decisions possible. To learn more, please visit www.theharrispoll.com.

The majority of small business owners (72%) and mid-market business owners (51%) rate the current condition of the U.S. economy overall as 'poor' or 'fair,' with inflation topping their list of concerns at 61%. Following closely behind are worries about the upcoming U.S. presidential election (49%), high interest rates (49%), and supply chain disruptions (40%).

Despite these and other economic uncertainties, many U.S. small and middle market business owners have a brighter perspective when considering their own businesses, with 51% of small business owners and 73% of middle-market business owners rating the economic environment for their own business as 'good' or 'excellent.'

Employees placing demands on businesses amid economic challenges
In addition to macroeconomic concerns, business owners face pressure from workers who are experiencing economic strains and demanding more from their employers. In the last six months, business owners have experienced employees:

• Asking for better compensation (37% - all owners; small - 34%; mid-market - 39%)
• Asking for more or better benefits (32% - all owners; small - 25%; mid-market - 40%)
• Leaving for better paying jobs (28% - all owners; small – 22%; mid-market – 35%)

“Business owners have a lot to navigate right now, from macroeconomic anxieties to increasing demands from employees as they manage many of the same challenges. What’s clear is owners aren’t taking it on the chin; rather, they’re rolling up their sleeves to improve the operational strengths of their firms,” said Russ Johnston, president of Business Insurance at Nationwide. “As part of that process, business owners should consult with industry-specific insurance partners to assure their commercial policies and risk mitigation strategies are keeping up with their needs now and in the future.”

The research found business owners adopting a proactive, hands-on approach to improve their company’s resiliency and meet the evolving needs of employees. They report implementing measures to mitigate risk and handle unforeseen circumstances, such as:

• Proactively planning for potential crises (small - 53%; mid-market - 66%)
• Implementing or updating their business continuity plan (small - 41%; mid-market - 63%)
• Making structural repairs or improvements to their building/property (small - 31%; mid-market - 59%)

Most business owners feel prepared to navigate potential disruptions to their businesses (small – 65%; mid-market – 75%), including from events like a weather event or financial disruption.

Furthermore, business owners say they are investing in their workforce by providing additional benefits, such as increased compensation and improved retirement offerings. More than half (59%) of small and 80% of mid-market business owners are planning to or have already increased wages. About one third (32%) of small and 74% of mid-market business owners are planning to or have already improved retirement offerings.

Small business owners fall behind on retirement and succession planning
Most business owners feel they are on track when it comes to being financially prepared for retirement. Nevertheless, they also report that within the last 12 months, they have pushed back their retirement timeline because they’re worried that they haven’t saved enough money to provide the income they will need in retirement (small – 57%; mid-market – 32%) or have had to reduce the amount they save due to current economic conditions (small – 40%; mid-market – 20%). Meanwhile, over 40% of all respondents reported that they are delaying retirement because they enjoy working.

When they are ready to retire, not all business owners have a clear succession plan in place. Only 30% of small business owners have a succession plan compared to 62% of mid-market business owners. Among those small business owners without a succession plan, almost one in four (24%) say they plan to close the business permanently when they retire.

The business owner journey also provides useful lessons for the entrepreneurs of the future and younger owners. When asked what advice they would most want to give their younger selves about planning for retirement, business owners were clear: First, start planning earlier (small – 52%; mid-market – 39%); and second, save more consistently (small – 47%; mid-market – 42%).

"Recognizing the challenges small business owners face in retirement and succession planning is vital. Economic uncertainties have led many to delay retirement and reduce savings, highlighting the need for early planning and consistent saving,” said  Juan José Pérez, President of Nationwide Corporate Solutions. “Additionally, a significant number of business owners lack clear succession plans, with too many intending to close shop when they retire. With proper planning, the business, owner and its employees could be better served financially through options such as a sale or other form of transition with the help of the right partner. It’s critical that we support owners’ ability to plan proactively – with the help of a financial professional –to ensure a stable future for our business community.”

More findings from Nationwide's 2024 Economic Impact survey can be found here.

Methodology
Nationwide commissioned Edelman Data & Intelligence (DXI) to conduct a nationally representative online survey 400 U.S. small business owners, 400 mid-market business owners and an oversample of business owners ages 60-65 nearing retirement (n = 100) from May 1-15, 2024.

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