“This acquisition expands the capabilities, specialized expertise and strong partnerships of our financial services organization, positioning our company as a leading provider in the employer stop loss industry,” said Nationwide CEO Kirt Walker. “As a company committed to protecting people, businesses and futures with extraordinary care, enhancing our employer stop loss segment helps us continue to meet the needs of business owners today and into the future.” 

The transaction further strengthens and diversifies Nationwide’s portfolio, expanding the company’s ability to sell stop loss insurance to small businesses. Stop loss insurance protects employers who self-fund their health insurance plans from excess losses.

As part of the acquisition, Lindsey Murray, the former chief operating officer of Allstate Health, has joined Nationwide and will lead the newly formed Nationwide Group Benefits segment. Murray will report to John Carter, president and COO of Nationwide Financial.

“Lindsey brings a wealth of experience and a proven history of success in the employee benefits market,” Carter said. “Her expertise builds on and complements Nationwide’s core capabilities, helping us drive continued growth as we navigate the evolving financial landscape.”

Murray held a variety of leadership roles at Allstate, including executive vice president of the Product, Pricing and Underwriting team for the Health & Benefits division, overseeing the Voluntary Benefits, Individual Health and Group Health business lines. She has a strong track record of driving innovative product development and long-term growth.

Murray holds a bachelor’s degree in actuarial science from Carroll University. She is a Fellow in the Society of Actuaries and a member of the American Academy of Actuaries.

“As Nationwide continues to focus on our mission to protect people, businesses and futures with extraordinary care, this acquisition is a strong fit,” said Nationwide CEO Kirt Walker. “We are extending our protection solutions to meet the needs of business owners today and into the future.” 

This acquisition will further strengthen and diversify Nationwide Financial’s portfolio, expanding the company’s ability to sell stop loss insurance to small businesses. Stop loss insurance protects employers who self-fund their health insurance plans from excess losses.

“Acquiring Allstate’s employer stop loss segment will broaden Nationwide Financial’s portfolio, meeting the needs of small businesses, allowing us to serve more customers and positioning us as a leading provider in the stop loss industry,” said John Carter, president and chief operating officer of Nationwide Financial. “This represents a significant investment in the stop loss market, adding experienced talent with proven business results, protecting over 13,000 small businesses and complementing our existing offerings in the market while accelerating our opportunity for growth.”

This new business will lay the foundation for Nationwide to continue to add capabilities for significant growth in employer benefits.

Citi is acting as exclusive financial advisor and Squire Patton Boggs LLP is acting as legal advisor to Nationwide. J.P. Morgan and Ardea Partners are acting as financial advisors and Willkie Farr & Gallagher LLP is acting as legal advisor to Allstate.

Joe Dinaso  
Investment Management Group   

• In addition to his work generating new business, Joe became a joint sponsor of the Financial Planning Association of Connecticut where he worked on sponsorships with firms and hosted team-building events with partners in other Nationwide Financial businesses. In his personal time, Joe is active in giving back to his community through team-based volunteerism, with a focus on helping disadvantaged children.   

Meghan Hamilton  
Corporate Solutions  

• Despite a turbulent year for the business she supports, Meghan is consistently exceeding expectations. Outside of work, Meghan brings the same energy and enthusiasm to her role as a fitness instructor and is very involved with her daughter’s dance team, helping organize events, fundraise and create a sense of community among the families.   

Dave Harris  
Nationwide Retirement Institute®   

• Dave’s expertise in healthcare, Medicare, Social Security and long-term care empowers him to deliver outstanding results for customers and financial professionals. In his community, he is an avid volunteer and donor to Autism Speaks, an organization committed to enhancing lives today and accelerating solutions for tomorrow. Additionally, Dave also volunteered for the Special Olympics and serves as a coach for his children’s sports teams.    

Matt Ianzito  
Nationwide Annuity 

• Consistently surpassing his goals, Matt is a team player and has been a pilot participant and champion for various business initiatives and projects. Outside of work, he actively supports several charities dedicated to helping children. These include “The Warrior,” which provides crucial assistance to children with heart disease, and “Sam’s Fans,” an organization dedicated to enhancing music and art therapy programs for sick children and their families. Additionally, Matt volunteers his time as a coach for youth sports in his community.  

Kathy Kuhns  
Strategic Customer Solutions 

• In her day-to-day role, Kathy has been instrumental in helping identify opportunities at key firms. She also has a strong commitment to helping others succeed and has mentored several female associates and connects Associate Resource Groups with her firm partners to promote these goals. Beyond her professional achievements, Kathy is deeply committed to giving back and helping her community. She regularly donates blood and is a dedicated supporter of The American Red Cross, volunteers at the Ronald McDonald House, and advocates for animal rescue.  

Logan Meyer  
Nationwide Retirement Solutions  

• In addition to notable business achievements, Logan also has a passion for developing talent through mentorship. Helping identify the next generation of leaders, he works with University of Missouri students interested in financial services career paths and has led internship recruiting from the university for the past three years. In his community, Logan is actively involved in Harvesters – The Community Food Network in Kansas City, a regional food bank serving a 27-county area of northwestern Missouri and northeastern Kansas.  

Jeff Sobota  
Nationwide Life Insurance 

• Always working to strengthen relationships with key partners, Jeff is the ideal team player and supports his business partners and peers in achieving their sales goals. In his community, Jeff devotes the same passion to volunteering for the Charlotte nonprofit, “Project to Heal,” which trains and matches labrador retriever service dogs with individuals challenged by post-traumatic stress disorder (PTSD).   

"We are immensely proud of our associates' unwavering dedication to our customers, distribution partners, and their colleagues," said John Carter, President and COO of Nationwide Financial. "These exceptional sales associates of the year have not only delivered impressive business results but have also shown a remarkable commitment to their communities." 

Learn more about Nationwide’s volunteerism and corporate giving efforts.   

“John’s leadership throughout his 20 years at Nationwide has played a significant and lasting role in the company’s success,” said Kirt Walker, CEO of Nationwide. “Through John’s vision and leadership, Nationwide Financial has grown into one of America’s leading financial services firms.” 

Under Carter’s leadership, Nationwide Financial recorded four consecutive years of record-breaking sales, growing 62% since 2019. The firm also forged relationships with a broad network of some of the largest and most important distribution partners in the industry. In the past five years, the firm has modernized its core business systems, expanded and deepened distribution relationships, and launched new and innovative solutions. In fact, more than 25% of NF’s sales are through businesses, solutions and partnerships that did not exist five years ago, including some of the firm’s fastest-growing solutions: Protected Retirement, Pension Risk Transfer and CareMatters – Nationwide’s long-term care suite of products.  

With a distinguished 40-year career in financial services, Carter joined Nationwide in 2005 as president of Nationwide Financial Sales and Distribution. He became president of the Nationwide Retirement Plans business in 2013 and was named President and COO of Nationwide Financial in 2019. Prior to Nationwide, Carter worked in leadership positions at Prudential Financial, UBS and Kidder Peabody. 

Admired Leader 
Carter led the development of cultural programs designed to help employees bring their best selves to work, resulting in world-class engagement and high-performing teams. He spearheaded the introduction of the NF internship program in 2013, a successful program that continues today. A proud graduate of the University of Missouri, Carter has remained involved with the university through the years, including supporting the Tiger Scholarship Fund, serving on the Robert J. Trulaske College of Business Marketing Advisory Board, and creating the Sales and Customer Development program in the College of Business. 

Industry Advocate  
Throughout his career, Carter has advocated for the retirement security of America, traveling to Washington, D.C., to lend a voice to regulatory and industry conversations impacting retirement planning. He served on the boards of several leading industry associations, including the American Council of Life Insurers (ACLI), Insured Retirement Institute, Employee Benefit Research Institute and the Columbus Chamber of Commerce.  

In 2020, he championed the formation of the Financial Alliance for Representation and Empowerment (FARE), a coalition of leading financial services firms, associations and Historically Black Colleges and Universities (HBCUs), with the goal of building sustainable economic wealth in diverse communities and increasing inclusivity in the financial services industry. 

Community Supporter 
Within Nationwide, Carter served as co-executive sponsor the Nationwide Latino Alliance for four years and is the co-executive sponsor of the Nationwide Cares campaign supporting employee volunteerism and giving.  

For the past five years, he has served as Chair of the Champions of the Community Board for the Nationwide Children’s Hospital Championship, one of the most successful PGA tournaments benefiting a single non-profit organization. The annual event has raised $30 million for pediatric cancer research and treatment since 2007.  

“John will leave a lasting impact on the industry and Nationwide, and Nationwide Financial is well positioned to continue its above-industry growth for years to come because of his leadership,” said Nationwide CEO Kirt Walker. Walker shared that Carter will be with the organization through the end of the year. 

During a gathering to celebrate that community impact, tournament officials announced that the 2024 Nationwide Children’s Hospital Championship raised a record-setting $3.6 million, eclipsing last year’s previous record of $3.3 million. The total marks the largest single-season charitable donation raised for the hospital in the history of the Korn Ferry Tour Finals event and the fourth straight year of exceeding $3 million. Since its inception in 2007, the tournament has raised nearly $30 million to support pediatric cancer treatment and research at Nationwide Children’s Hospital. 

“The Nationwide Children’s Hospital Championship continues to reach impressive fundraising heights each year, truly setting the bar as a best-in-class Korn Ferry Tour Finals event,” said John Carter, president and chief operating officer for Nationwide Financial and chairman of Champions of the Community, the host organization for the Nationwide Children’s Hospital Championship. “We’re incredibly grateful for the steadfast support of our business partners, the commitment of our tournament staff and volunteers, and the willingness of our Patient Champions to share their stories.” 

“The Nationwide Children’s Hospital Championship has helped provide hope to children with cancer and their loved ones for 18 years, with nearly $30 million donated to support innovative research and care,” said Tim Robinson, chief executive officer of Nationwide Children’s. “We are grateful for the dedication of the tournament’s sponsors, volunteers and supporters for helping make our work possible.” 

Since 2011, Nationwide’s sports marketing partnerships have contributed more than $68 million to Nationwide Children’s. Beyond the golf-related fundraising from Nationwide Children’s Hospital Championship and the Memorial Tournament’s Legends Luncheon, additional support comes from partnerships with the Nationwide Children’s Hospital Columbus Marathon & ½ Marathon, the Columbus Crew and Dale Earnhardt Jr.  

For more information about Nationwide Children’s Hospital, visit nationwidechildrens.org.  

Since its inception in 2007 through last year’s event, the tournament has raised more than $25.6 million to support pediatric cancer treatment and research at Nationwide Children’s Hospital in Columbus, Ohio. The research and innovation that originates at Nationwide Children’s are shared with pediatric hospitals across the country and around the world to help children everywhere.

“This best-in-class tournament has consistently highlighted some of golf’s emerging talents, but its core mission is to support children,” said John Carter, president and chief operating officer of Nationwide Financial and chairman of Champions of the Community, the tournament’s host organization. “Raising funds to accelerate groundbreaking medical advancements at Nationwide Children’s is a vital part of the event, but we’re also honored to involve Patient Champions in various activities throughout the week.”

The annual Pros Fore Patients paired Patient Champions with Tour professionals for on-course golf instruction, games, and assembly of care packages for current patients at Nationwide Children’s. Several Patient Champions also participated as Honorary Observers on Sunday, walking with the final professional pairings of the tournament and waving to fans as they were recognized by the 18-hole announcer.

Earlier in the week, “Final Putt to Cure Cancer” honoree Cecelia Jalloh also took the “First Shot to Fight Cancer” to officially open the first round of play. Cecelia was awarded a $10,000 college scholarship by Nationwide following her ceremonial tee shot.

For more information about Nationwide Children’s Hospital or to make a donation, visit NationwideChildrens.org.

The discussion focused on opportunities to bridge the retirement security gap faced by millions of Americans, including increasing access to retirement plan benefits and financial advice and making retirement benefits more automatic for more people. The group discussed the emergence of in-plan protected retirement solutions and opportunities for the industry to partner to better meet the needs of young people, underserved communities and retirement savers in general.

“If you have access to pension-like income streams and you’re working with a financial professional, you’re going to have a much better chance of achieving your retirement goals, but you’re probably going to have a lot less anxiety as well,” observed John Carter, President and COO of Nationwide Financial, as the group discussed the need to help retirement savers generate guaranteed income in retirement.

Carter was joined by Thasunda Brown Duckett, President and CEO of TIAA; Will Fuller, President and CEO of Transamerica; and Penny Pennington, Managing Partner for Edward Jones, in the discussion. The panel was moderated by Pension & Investments’ Editor-in-Chief Jennifer Alban.

“I’ve been in this business for 40 years, and what I see from an industry standpoint – in some ways all of our firms collaborate, partner, cooperate and innovate together and separately as well,” Carter said. “I think that level of creativity and innovation is one of the things that’s going to move us through this crisis because no one firm is going to have all of the good ideas.”

Carter shared additional thoughts on opportunities he sees to shift the American retirement saving mindset in this Power of Ideas Essay.

Watch a replay of this panel discussion

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Nationwide surveyed 1,000 U.S. consumers ages 60-65 about their concerns, expectations and lessons learned for retirement planning. The survey found one-third of current retirees in this age range are considering returning to work, with half (50%) citing the fear of running out of money or currently running out of money as their top reason for doing so. Survey respondents say the biggest threat to their retirement security is inflation at 90%, followed by cuts to Social Security benefits (84%) and cuts to Medicare/Medicaid benefits (83%).

There is a significant gap between the realities of current retirees and the expectations of adults ages 60-65 who are still working. These include:

• Unrealistic estimates about basic living expenses: Current workers underestimate the percentage of income they’ll spend on basic living expenses in retirement. They expect to spend 42% of their income on food, housing, and other basic expenses, while retirees actually spend 53% on those expenses.
• Lower retirement security than anticipated: 77% of respondents who are currently working say they expect to be comfortable in retirement, while only 68% of current retirees actually feel comfortable.
• Retiring ahead of schedule: 64% of current retirees stopped working earlier than planned, which can reduce important years to save for retirement. The average age of retirement was 60, while the average age of expected retirement was 67.
• Safety net shortfall: 36% of retirees said they received less in Social Security benefits than they expected. If Congress does not take action, future retirees can expect a 23% cut in benefits, according to the Social Security Administration. Nearly three-fourths (74%) of current retirees said this cut would impact their retirement “a lot,” with 71% of those still working saying the same. Only 41% of survey respondents expect Social Security to exist in its current form throughout their retirement.   

“As we enter a period of peak retirement in our country, many retirees will face harsh reality checks if they missed opportunities to prepare for this moment,” said John Carter, President and COO of Nationwide Financial. “For decades, millions of investors have focused on accumulation without a plan for how they will use that money to live in retirement. In the future, success will be determined based on whether or not retirees have enough income to cover their needs. With fewer young people able to count on defined benefit pensions and uncertainty around the future of Social Security, younger savers should focus on simple things they can control right now to set themselves up for success in the future. There is reason to be optimistic, but retirement savers need to act now to ensure success.”

Advice respondents would give to their younger selves
Survey respondents have words of wisdom to pass down to younger generations. When asked what advice they would give their younger selves about retirement planning, many emphasized the difference between what they expected and what they experienced.

• Almost a quarter of survey respondents (23%) said to expect you’ll need more money than you think.
• Nearly 1 in 5 (18%) said not to assume you can work for as long as you’d like.
• The vast majority gave tried and true advice, including start saving early (63%), start planning early (41%), and don’t live above your means (34%).
• Retirees cited working with a financial professional, saving early, maxing out retirement plan contributions and retirement plan auto increases as actions that most helped their retirement security.
• Bad investments, extravagant purchases, tapping retirement savings early and waiting until after age 30 to start saving were cited as actions that most harmed their retirement security.

“These words of advice from those who have reached retirement provide great points of reference for American savers at every stage of the retirement planning journey,” Carter said. “As American workers prepare for their retirement years, which could be sooner than anticipated and last longer than they may expect, it’s crucial that they lean on the guidance of financial professionals who can help them make the right financial decisions and avoid costly mistakes."

Guidance from financial professionals is key
Survey findings show that not enough people are drawing on professional resources. Only 37% of 60–65-year-olds get information about retirement planning from a financial advisor. Others rely on a mix of sources, including the internet (39%), friends and family (35%) and resources from their employer-sponsored retirement plan (31%). One in 10 older respondents have not yet sought out information about retirement planning.

This reluctance to seek professional guidance poses a significant threat to long-term financial well-being and can lead to uninformed decisions that have lifelong consequences. For example, nearly two-thirds of retirees (58%) opted to draw down Social Security before their retirement age and 34% accessed their retirement savings early. Nearly 1 in 5 (17%) took a loan from their 401(k)s, risking tax and other withdrawal penalties.

“One of the most crucial tasks of our time is to ensure American workers understand how everyday choices impact their financial futures,” added Carter. “It’s important for those preparing for retirement to have a holistic plan, addressing factors like the right time to take Social Security, costs of healthcare and long-term care and ways to ensure they don’t outlive their income. The best way to do that is to work with a trusted financial professional who specializes in protected income solutions or tap some of the educational resources that may be available through workplace retirement plans.”

Find a financial professional

Nationwide remains committed to empowering individuals and financial professionals with the knowledge and tools they need to make informed financial decisions, especially when it comes to retirement planning. The company’s diverse portfolio of protection solutions includes annuities, life insurance, workplace retirement plans and other solutions to help retirement savers and businesses address a wide range of challenges like achieving lifetime income, preparing for long-term care and healthcare costs in retirement, developing strategies for Social Security, legacy planning and more.

For more information on Nationwide's retirement planning resources and to access the complete survey findings, view this infographic, complete survey results, our website, or the Nationwide Advisor Advocate Blog. 

Survey Methodology
Edelman Data and Intelligence (DXI) conducted a nationally representative online survey of 1,000 U.S. residents aged 60-65 on behalf of Nationwide from November 2 – 29, 2023.

As a member in good standing with The Insights Association as well as ESOMAR Edelman Data and Intelligence conducts all research in accordance with local, national and international laws as well as in line with all Market Research Standards and Guidelines.

Laurie Bricker 
Strategic Customer Solutions

• Laurie is a dedicated employee who embodies Nationwide's values and fosters collaboration among her partners. She extends her influence beyond business, actively participating in Nationwide's culture initiatives and volunteering for local community improvement with Main Street Wooster.

Candice Darien 
Life Insurance

• Driven by a passion for expanding life insurance coverage, Candice's collaborative approach has helped her successfully engage partners across different departments to achieve results. Beyond her consistent high performance, Candice showcases her strong leadership, using technology to enhance business value. Her passion for others extends to her volunteer service with the Association for Wholesaling Diversity, the Greater Warren-Youngstown Urban League and River Gate High School where she mentors and supports at-risk youth.

Rob Fajardo 
Annuity

• Rob’s impressive results-focused attitude has enabled him to be a consistent top performer while he successfully collaborates with financial professionals to implement effective solutions. In the community, he works with a non-profit in Puerto Rico that helps underprivileged children get involved in youth sports and provides scholarships for underprivileged children on the island. Additionally, Rob is active with New Jersey charities that help raise money for children with autism.

Marshall Goff 
Retirement Solutions

• Marshall's effective leadership and strong relationships, both within and outside the company, have played a crucial role in Nationwide's success. In addition to strong business outcomes, he actively contributes to his community through involvement in the local youth soccer association, serving on the board as a volunteer and game referee.

Garrett Hummel 
Life Insurance

• In addition to his deep knowledge of life insurance solutions and excellent collaboration with partners across the business, Garrett coaches his son’s baseball team and volunteers for a charity supporting families affected by Rett Syndrome in his community.

Traci Stearns 
Corporate Solutions

• Traci is always accountable for getting things done and putting customers first. Outside of work, she's involved in Habitat for Humanity and helping out at Golden Endings, an animal rescue group, dedicated to the welfare of homeless Golden Retrievers.

“We’re proud of our associates’ continued commitment to our customers, distribution partners and each other,” said John Carter, President and COO of Nationwide Financial. “Our remarkable sales associates of the year have achieved outstanding business results while also demonstrating extraordinary care in their communities.”

Learn more about Nationwide’s volunteerism and corporate giving efforts. 

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On December 14, tournament and hospital officials gathered to announce that the 2023 Nationwide Children’s Hospital Championship raised a record total $3,518,710 million for central Ohio charitable organizations, including $3,307,331 million for pediatric cancer research and treatment at Nationwide Children’s Hospital. This marks the third consecutive year in which the $3 million mark has been exceeded. Over the last 17 years, the Nationwide Children’s Hospital Championship has raised more than $25.6 million in support of the hospital’s pediatric cancer program.

"This tournament continues to set the bar in terms of fundraising on the Korn Ferry Tour and we’re tremendously thankful to the many partners and patrons who contribute to its unparalleled success,” said John Carter, president and chief operating officer for Nationwide Financial and chairman of Champions of the Community, the host organization for the Nationwide Children’s Hospital Championship. “The collective efforts of our supporters, tournament staff and volunteers, along with the participation of our Patient Champions, are what make this event so impactful year after year.”

“The Nationwide Children’s Hospital Championship makes a difference for our hospital, but it also has an impact for children with cancer all over the world,” said Tim Robinson, CEO of Nationwide Children’s Hospital. “For 17 years, the tournament has supported care here – and supported our research that has improved cancer care everywhere. Nationwide and the Championship’s sponsors, volunteers and spectators have once again added to a remarkable legacy of generosity.”   

Since 2011, Nationwide’s sports marketing partnerships have contributed more than $60 million to Nationwide Children’s. Beyond the golf-related fundraising from Nationwide Children’s Hospital Championship, Legends Luncheon and 11 years as presenting sponsor of the Memorial Tournament, additional support comes from partnerships with the Nationwide Children’s Hospital Columbus Marathon & ½ Marathon, Columbus Crew and Dale Earnhardt Jr.

For more information about Nationwide Children’s Hospital or to make a donation, visit nationwidechildrens.org.  

Since the tournament’s inception in 2007 with Nationwide as a founding partner, more than $22.3 million has been raised through the 2022 event to support pediatric cancer treatment and research at Nationwide Children’s Hospital in Columbus, Ohio. That charitable mission was on display the week of September 18 as the 17^th annual event was played at The Ohio State University Golf Club, Scarlet Course where 24-year-old Norman Xiong took home the championship trophy and assured his PGA TOUR membership for 2024.

“This premier tournament has always been a showcase for some of golf’s rising stars, but its tradition is also rooted in helping kids,” said John Carter, president of Nationwide Financial and chairman of the tournament’s host organization, Champions of the Community. “The fundraising to enable cutting-edge research and innovation at Nationwide Children’s is a critically important aspect of this tournament, but we’re also honored by the opportunity to include Patient Champions from the hospital in several events during the week.” 

The annual Pros Fore Patients paired Patient Champions with Tour professionals for on-course golf instruction, games, and assembly of care packages for current patients at Nationwide Children’s. Select Patient Champions also participated as Honorary Observers on Sunday, walking with the final professional pairings of the tournament and waving to fans as they were recognized by the 18-hole announcer.

Additional ceremonies bookended the competition with the First Shot to Fight Cancer opening the first round of play and the Last Putt to Cure Cancer closing the tournament, both shots taken by 16-year-old Patient Champion Reid Zupanc of Delaware, Ohio. Reid was also awarded a $10,000 college scholarship by Nationwide following his ceremonial tee shot.

Eight-year-old Aiden Fulton, who was diagnosed with leukemia at two years old, was one of the Patient Champions who took part in tournament-week events. As Aiden was practicing his drive and putting with Tour professionals during Pros Fore Patients, his mother Kat said, “All the hard days are behind us, and he gets to just do the things that he missed out on for so many years.”

Lasting relationships and bonds are formed during the Nationwide Children’s Hospital Championship. During the week, Aiden also had the opportunity to catch up with Tour professional Camilo Villegas, whom he met at the tournament in 2021. The two have kept in touch and were able to enjoy time together on the putting green after the conclusion of Pros Fore Patients.

Nationwide Children’s receives more than 1.7 million patient visits annually and cares for kids and families from every U.S. state and more than 46 countries. To learn more about one of the country’s largest not-for-profit free-standing pediatric academic medical centers, visit NationwideChildrens.org.

Nationwide, a founding partner of the Nationwide Children’s Hospital Championship golf tournament, wanted to honor Reid’s 11-year fight against cancer by surprising him with a $10,000 college scholarship. The presentation preceded the opening round of play at the Korn Ferry Tour Finals event.

“I was shocked,” Reid said after receiving the scholarship. “I want to study biochemistry in Wales, and this is really going to help me with my endeavors.”

Reid’s cancer journey began in 2011 with what was expected to be a routine visit with his Ear, Nose, and Throat (ENT) specialist. Before a procedure to have a second set of ear tubes placed in both eardrums, Reid’s mother, Lani, noticed an unusual bump on the top of Reid’s head. Although it was small and seemingly non-concerning, the ENT specialist scheduled a surgery to remove the cyst and have it tested by pathology. Tests indicated that the bump was benign, and the family was relieved.

A few months after that surgery, bumps began to reappear on Reid’s head. Further testing showed that the bumps were malignant tumors. Reid was diagnosed with a vascular cancer called Epithelioid Hemangioendothelioma, a rare cancer that affects the lining of the blood vessels in the liver and lungs. His cancer was even more rare due to the area of its initial growth. Upon diagnosis, Reid was immediately admitted to Nationwide Children’s Hospital where he began six months of chemotherapy. In the years that followed, he also endured more than 15 surgeries, including: tumor and lymph node removals, a skin graft, and a lung biopsy.

For the last several years, Reid has been stable and follows up with his oncologist annually to monitor his health. He is currently a junior year at Buckeye Valley High School in Delaware and also takes college courses full time. After graduation, he hopes to go to college in Wales and study biochemistry. He further aspires to attend medical school at the University of London.

“Reid’s perseverance and positivity in the face of a life-altering challenge exemplifies the charitable mission of this tournament,” said John Carter, president of Nationwide Financial and chairman of the tournament’s host organization, Champions of the Community. “Nationwide is pleased to present this scholarship to Reid as our way of paying tribute to every patient and family who has been touched by the amazing work done by the doctors, nurses, and staff at Nationwide Children’s.”

“We’re very appreciative of Nationwide’s ongoing generosity to our patients and families,” said Steve Testa, president, Nationwide Children’s Hospital Foundation. “Reid’s story shows his strength and spirt and it’s great to know that this gift will support his future.”

Tournament proceeds benefit pediatric cancer research and treatment at Nationwide Children’s Hospital. Since the tournament’s inception in 2007, more than $22 million has been raised for the hospital. 

Nationwide Children’s Hospital remains the cornerstone beneficiary of Nationwide. Through Nationwide’s sponsorships of the Memorial Tournament presented by Workday events — including the Legends Luncheon, the Nationwide Children’s Hospital Championship, the Nationwide Children’s Hospital Columbus Marathon & ½ Marathon, the Columbus Crew, and a partnership with The Dale Jr. Foundation, Nationwide sports marketing platforms have helped raise more than $55 million for the hospital since 2011.

For more information about Nationwide Children’s Hospital or to make a donation, visit NationwideChildrens.org.

“These associates do an excellent job taking care of our distribution partners and customers while also being leaders in their communities,” said Mark Berven, President of Property & Casualty, “Congratulations to this year’s winners, you represent Nationwide well.”

Property Casualty Sales Associates of the Year include:

• Kevin Bauer – Nationwide Agribusiness
  Kevin always provides his colleagues and agents with the highest level of service. Outside of work, Kevinvolunteers at the Food Bank of Iowa and coaches his son’s baseball, basketball, soccer, and football teams.
• Alyssa Bonavito – E&S/Specialty
  Alyssa is a team player committed to helping meet and exceed goals. When help is needed for any fundraisers or volunteer opportunities, Alyssa is always the first to assist in any way she can.
• Todd Opyt – Middle Market Underwriting, Commercial Lines
  Todd volunteers for Care for Real, a Chicago-based organization providing food, clothing, pet food, referral,
  and additional services to the community to improve the health and well-being of low-income residents.
• Kyle Shearer – National Sales Solutions, Personal Lines
  In his spare time, Kyle and his wife run a rescue ranch in Arizona for sick, hurt, or unwanted animals. They currently have five donkeys, four horses, three mini horses, one pig, one goat, two turkeys, 30 chickens, five dogs and three cats.

Nationwide Financial Sales Associates of the Year include:

• Andy Johnson – Corporate Solutions
  At work, Andy has established himself as a collaborative problem solver. In his spare time, he continues to volunteer and is involved in the community as a youth coach.
• Brooke Miller – Life Insurance
  Brooke is passionate about finding ways to help protect more people with life insurance. She serves as a mentor to Life wholesalers looking to get into the field, helping ensure a talent pipeline for Nationwide Financial’s future. She is also an avid supporter of organizations such as the Hantz Foundation and volunteer opportunities that benefit children.  
• Bill Vassas – Retirement Solutions
  Bill sells Nationwide in all that he does, with an overarching focus on continuing to connect with current and new advisor partners.
• Julie Stewart – Nationwide Annuity
  After mentoring informally, Julie signed up for Nationwide’s formal mentorship program launched in September. She’s a member of the Nationwide Financial Diversity, Equity and Inclusion Council and volunteers with several charitable organizations in the Atlanta area.
• Sal Scudiero – Nationwide Annuity
  Last fall, Sal stepped up his impressive commitment to his community by assisting with cleanup after Hurricane Ian and doubling his blood donation efforts to help his fellow Floridians.
• Sohil Patel – Life Insurance
  Sohil’s caring nature shines through his volunteerism in the Columbus community with organizations like the Mid-Ohio Food Bank, Ronald McDonald House, Pelotonia and homeless shelters.

“We’re proud of these associates’ outstanding performance and their dedication to members, distribution partners and each other,” said John Carter, President and COO of Nationwide Financial. “It’s clear that the sales associates of the year are committed to providing extraordinary care at work and in the community.”

Learn more about Nationwide’s volunteerism and corporate giving efforts. The company also has a number of open roles across the enterprise. 

In his new role, Jestice will have leadership responsibility for all aspects of Nationwide’s Mutual Fund and ETF business, including portfolio management, investment advisory, broker-dealer, operations, business and product development.

“Kevin’s proven leadership—combined with his extensive investment and asset management experience, knowledge of the financial services industry, and sales and service expertise—make him uniquely qualified to lead this important business,” said John Carter, President and COO of Nationwide Financial. “His entrepreneurial mindset, collaborative approach, and ability to build relationships with and influence stakeholders will help IMG build on its already strong foundation.”

In his role as leader of Nationwide’s ISS and IID teams, Kevin was responsible for providing vision, direction and strategic leadership. This includes developing the strategy to further expand Nationwide’s reach and profitably grow institutional sales of mutual funds and exchange-traded funds, and leading a team that provides service to millions of customers, financial professionals and firms.

Prior to Nationwide, Jestice spent more than 13 years at Vanguard, most recently serving as Principal, Head of Enterprise Advice, where he built a new sub-division focused on improving outcomes for individual investors through advice and education. He also served as Principal, Head of Institutional Investor Services, where he led a team of 250+ investment professionals, relationship managers and operations professionals to serve Vanguard’s institutional asset management clients. In his time with Vanguard, he also led the outsourced chief investment office business and transformed Vanguard’s consultant sales model.

Before Vanguard, Kevin held a variety of roles with increasing responsibility at EnnisKnupp + Associates (now Aon Investments), including managing consulting relationships with corporate defined contribution and defined benefit (DB) plans, multi-billion-dollar public DB plans and health care entities. He also conducted due diligence evaluations of investment managers and provided thought leadership to clients.

“Kevin’s deep expertise in this field – combined with his exceptional leadership – will be an asset as we work together to build mutually beneficial relationships and help clients protect and grow their assets,” Carter said.

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• Recent spikes in inflation and market volatility have made it harder for millions of Americans to achieve a secure retirement.
• New bipartisan legislation will help by increasing access to employer sponsored retirement plans and removing barriers preventing many Americans from saving more.
• Nationwide highlights key provisions of SECURE 2.0 likely to be most impactful.

American retirement security has been under increased pressure as market volatility and inflation have ravaged the retirement confidence of millions of Americans in the wake of the pandemic. Recent Nationwide Retirement Institute® surveys found one-in-five older Americans have delayed or canceled their retirement due to the pandemic and 1-in-10 report reducing contributions to their 401(k) to help manage expenses in today’s inflationary environment¹.  

The SECURE 2.0 Act of 2022 passed by Congress on Dec. 23 as part of the FY 2023 omnibus package could make a meaningful difference in helping more Americans address this adversity and improve their retirement outlook. Leaders at Nationwide – one of the largest insurance and financial service providers in the United States – are applauding this bipartisan legislation as a significant step forward for our retirement system and powerful continuation of the momentum created by the SECURE Act of 2019.

“SECURE 2.0 provides significant enhancements that will create greater access to workplace retirement plans, which is a leading indicator of retirement preparedness and critical to retirement security,” said John Carter, President and COO of Nationwide Financial. “This legislation removes barriers that keep American workers from having access to savings plans or contributing to these benefits due to complexity and competing priorities like student loan debt repayment or the need to set aside emergency savings. Lawmakers on both sides of the aisle should be commended for coming together to help this important legislation cross the finish line at a time when it’s urgently needed.”

Nationwide was supportive of the entire package of legislation, highlighting several key provisions which are likely to deliver immediate impact:

• An enhanced start-up and employer match tax credit that increases the tax credit allowance to 100% of employer retirement plan startup costs to be utilized in the year of credit for employers with 50 or fewer employees. This represents a 50% increase over previous state. The provision also provides a new, additional credit for small employer contributions made to a qualified plan.
• Improved long-time, part-time worker benefits allowing workers with two years of consecutive part-time service to participate in employer-sponsored 401(k) plans – reduced from today’s three consecutive year requisite.
• New student loan matching opportunities for employers that allows plans to help younger workers avoid the costly financial choice of paying against educational debt in lieu of employer-matched retirement contributions.
• The Enhancing Emergency and Retirement Savings Act that enables workers to tap into retirement savings for emergency expenses without penalty. This provision addresses a key reason why some workers choose not to participate in their workplace retirement plan – the fear that they won’t be able to access their money if they need it for a short-term emergency.
• Removal of antiquated administrative roadblocks to offer greater flexibility for 457(b) government plan participants by allowing them to adjust their deferral elections.  

“We’ve seen firsthand how the current environment is impacting participants in retirement plans we support,” said Eric Stevenson, President of Nationwide Retirement Solutions, which administers nearly 34,000 plans, protecting more than 2.6 million participants². “Our public sector participants are exhibiting a significant increase in ‘negative behaviors’ which can threaten long-term retirement security. Specifically, contribution decreases are up 31%, contribution stops are up 17% and withdrawals due to unforeseen emergencies are up 25% year over year³. Elements of SECURE 2.0, which improve access and reduce leakage will help address these negative trends.”

SECURE 2.0 builds on the success of the SECURE Act of 2019. According to a Nationwide Retirement Institute survey⁴, advisors and financial professionals confirmed their clients took advantage of the SECURE Act of 2019 by updating their retirement plans (50%), saving more in general (48%), increasing their retirement account contributions (48%) and increasing their emergency savings (47%). A key provision of the SECURE Act of 2019 also helped drive greater access to guaranteed retirement income within employer-sponsored plans. This opened the door for Nationwide to introduce a full suite of in-plan guarantee investment solutions that provide guaranteed retirement income and protection from market volatility.

¹ Nationwide Retirement Institute Inflation Flash Poll, Feb. 2022
² As of Dec. 2021
³ Nationwide Retirement Solutions participant data, May 2021-May 2022
⁴ Nationwide Retirement Institute survey of advisors and financial professionals, Feb. 2021

Federal income tax laws are complex and subject to change. The information presented here is based on current interpretations of the law and is not guaranteed.

Nationwide and its representatives do not give legal or tax advice. An attorney or tax advisor should be consulted for answers to specific questions.

Guarantees are subject to the claims-paying ability of the issuing insurance company.

Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio. The Nationwide Retirement Institute is a division of NISC.

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On November 9, tournament and hospital officials gathered to announce this year’s Nationwide Children’s Hospital Championship raised a record $3,316,205 million for that noble cause. The total marks the largest single-season charitable donation raised for the hospital in the history of the Korn Ferry Tour Finals event and the second consecutive time the $3 million mark has been exceeded. Since its inception in 2007, the Nationwide Children’s Hospital Championship has raised more than $22.3 million in support of the hospital’s pediatric cancer program.

“The Nationwide Children’s Hospital Championship is a best-in-class Korn Ferry Tour tournament in many ways – from the top-tier competition to the outstanding golf course to the fan-friendly format – but it’s the fundraising that is truly unmatched on this tour,” said John Carter, president and chief operating officer for Nationwide Financial and chairman of Champions of the Community, the host organization for the Nationwide Children’s Hospital Championship. “We’re also thankful for the tremendous support of our business partners, the dedication of our tournament staff and volunteers, and the willingness of our Patient Champions to share their inspiring stories.”

“The Nationwide Children’s Hospital Championship helps make our innovative efforts to care for children with cancer possible,” said Tim Robinson, Chief Executive Officer of Nationwide Children’s. “The tournament not only supports our patients; it also supports our research and discoveries, ultimately benefiting children with cancer all over the world. The Championship and its sponsors, volunteers and spectators make a real difference in the lives of families.”

Since 2011, Nationwide’s sports marketing partnerships have contributed more than $55 million to Nationwide Children’s. Beyond the golf-related fundraising from Nationwide Children’s Hospital Championship, Legends Luncheon and 11 years as presenting sponsor of the Memorial Tournament, additional support comes from partnerships with the Nationwide Children’s Hospital Columbus Marathon/Half Marathon, Columbus Crew and Dale Earnhardt Jr.

For more information about Nationwide Children’s Hospital or to make a donation, visit nationwidechildrens.org.

Since the tournament’s inception in 2007 with Nationwide as a founding partner, more than $19.2 million has been raised to support pediatric cancer treatment and research at Nationwide Children’s Hospital in Columbus, Ohio. That philanthropic purpose was on display the week of August 22 as the 16^th annual event was contested at The Ohio State University Golf Club, Scarlet Course where Swedish native David Lingmerth earned his second career Korn Ferry Tour win along with fully exempt status on the PGA TOUR in 2023.

“As a Korn Ferry Tour Finals event, Nationwide Children’s Hospital Championship showcases some of golf’s brightest future stars as they compete for a coveted spot on the PGA TOUR,” said John Carter, president of Nationwide Financial and chairman of the tournament’s host organization, Champions of the Community. “The increased visibility as a Finals event played at one of the country’s premier campus golf courses provides a perfect platform to promote our philanthropic mission – supporting Nationwide Children’s Hospital.”

One way the tournament personalizes its cause is through Pros Fore Patients. The event provides a special opportunity for Nationwide Children’s Hospital Patient Champions and their families to interact with Korn Ferry Tour and PGA TOUR players. This year, each Patient Champion was paired up with a Tour professional for one-on-one instruction on the putting green and driving range. The Patient Champions and their pros also paid it forward by creating care packages to be delivered to current patients at Nationwide Children’s Hospital.

In addition to participating in Pros Fore Patients and closing the tournament with the Final Putt to Cure Cancer, Patient Champion Neil Taylor was presented with a $2,500 donation for Neil’s Meals, the legacy program he started with the Feel Better Foundation to supply restaurant or grocery store gift cards to patient families in the hospital’s Hematology/Oncology/Bone Marrow Transplant units.

The donation on behalf of the tournament was the second surprise of the week for Neil, who also received a $10,000 college scholarship from Nationwide as part of the First Shot to Fight Cancer ceremonies.

Nationwide Children’s Hospital Championship may be a local tournament on a national tour, but its benefit is felt globally. Nationwide Children’s receives more than 1.6 million patient visits annually and cares for kids and families from nearly every U.S. state and more than 46 countries. To learn more about one of the country’s largest not-for-profit pediatric health care systems, visit NationwideChildrens.org.

Nationwide, a founding partner of the Nationwide Children’s Hospital Championship golf tournament, learned about Neil’s story and wanted to honor his past journey with a gift for his future by surprising/presenting him with a $10,000 college scholarship. The presentation preceded the opening round of play at the Korn Ferry Tour Finals event.

“Getting a $10,000 scholarship was an awesome surprise,” said Neil. “I was so shocked when they handed me a cartoonishly large check. My mom started crying. My parents and I are really grateful to Nationwide for the support.”

On January 11, 2019, Neil was diagnosed with Mixed Phenotype Acute Leukemia - a rare form of leukemia that is a blend of both AML and ALL leukemia. He was admitted to Nationwide Children’s Hospital and began chemotherapy to treat his cancer. Over the next two and a half years, Neil was admitted to the hospital 28 times, visited the emergency room 17 times, endured 25 lumbar punctures and ended up in the pediatric intensive care unit twice for sepsis and septic shock. He also experienced rare side effects throughout his treatment and lost the ability to walk while undergoing chemo.

In spite of the many medical challenges he faced, Neil maintained a positive attitude while he relearned to walk and regained his overall strength through intense physical therapy. In June 2021, Neil was able to end chemotherapy a year earlier than expected thanks to new research and information available to his oncologists at Nationwide Children’s. Today, the 16-year-old sophomore attends Worthington Kilbourne High School and is a proud member of the school bands where he plays alto saxophone and synthesizer.

Neil’s personal experience as a pediatric cancer patient has inspired him to start a legacy program called Neil's Meals through the Feel Better Foundation. The program provides food gift cards to help pediatric cancer families by lifting spirits, satisfying chemo cravings, and providing comfort food during hospital stays at Nationwide Children’s.

“Neil’s story is inspiring, and it is why Nationwide remains steadfastly committed to supporting Nationwide Children’s Hospital and families like the Taylors,” said John Carter, president of Nationwide Financial and chairman of the tournament’s host organization, Champions of the Community. “It’s a pleasure for Nationwide to present this scholarship to support Neil’s academic future, but it is also a nod to all the patients and families who have benefited from the life-changing work being done by the doctors, nurses and staff at Nationwide Children’s.”

“We greatly appreciate Nationwide’s ongoing generosity to our patients and families,” said Steve Testa, president, Nationwide Children’s Hospital Foundation. “It’s wonderful to see how far Neil has come and exciting to know that this gift will support his future.”

Tournament proceeds benefit pediatric cancer research and treatment at Nationwide Children’s Hospital. Since the tournament’s inception in 2007, more than $19 million has been raised for the hospital. 

Nationwide Children’s Hospital remains the cornerstone beneficiary of Nationwide. Through Nationwide’s sponsorships of Memorial Tournament events including Legends Luncheon, the Nationwide Children’s Hospital Championship, the Nationwide Children’s Hospital Columbus Marathon & ½ Marathon, the Columbus Crew, and a partnership with The Dale Jr. Foundation, Nationwide sports marketing platforms have helped raise more than $50 million for the hospital since 2011.

For more information about Nationwide Children’s Hospital or to make a donation, visit NationwideChildrens.org.

After passage of the bill, advisors and financial professionals polled by Nationwide Retirement Institute said that because of the SECURE Act, their clients updated their retirement plans (50%), were able to save more in general (48%), increased their retirement account contributions (48%), and increased their emergency savings (47%).

This week, the House of Representatives passed the bipartisan Securing a Strong Retirement Act (SSRA), also known as SECURE Act 2.0, the next significant step forward in enhancing retirement security. The SSRA will remove additional obstacles for retirement savers, diversify investment options to meet a variety of needs, and find ways to stretch savings to last a lifetime. These changes will help many more Americans take control of their financial futures and create the conditions needed for a dignified retirement. We applaud the House for passing this critical legislation.

We now call on the Senate to pass the SSRA and strengthen the ability of American families to prepare for and live in retirement. We also urge the Senate to incorporate into this package the Enhancing Emergency and Retirement Savings Act (S. 1870), which would allow families access to penalty-free retirement funds should an emergency arise.

Because of the SECURE Act, millions of Americans are better able to balance their financial needs today while preparing for the future. Together, the SSRA and S. 1870 would take us even further in addressing critical retirement and savings needs and set up more Americans for a successful future. Our country is stronger when we all feel more secure.

Nationwide has a proud tradition of advocating for the needs of America’s retirement savers at the federal and state level. We remain committed to collaborating with lawmakers to help them understand the evolving needs of retirement savers and how this important proposed legislation can make a meaningful difference in helping more Americans achieve a secure retirement.

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“In addition to remarkable sales performances, these associates are living out Nationwide’s mission in their communities,” said Mark Berven, President of Property & Casualty, “They help make Nationwide a trusted, caring and customer-focused protection company.”

Property Casualty:

Amanda Bianconi – Excess & Surplus/Specialty

• Amanda served as a member of the Advisory Board of the Insurance Industry Charitable Foundation since 2018 and, after completing the Forum for Emerging Leaders program herself, she decided to give back to the program by serving as a coach to current participants.

Brent Dorman – Nationwide Agribusiness

• Brent volunteered with the Nationwide Ag Consulting Team, the Premier Customer Program and the Club 26 Committee and is active in many ag industry events across his territory to support the continued growth of members and the industry.

Gina Franklin – Small Commercial Sales and Distribution

• Gina volunteered over 100 hours of time in 2021 with several organizations and was the co-lead for the United Way campaign for California associates.

Valerie Lunasol – Nationwide Private Client

• Valerie was a mentor for associates, completed the Scottsdale Leadership Development Academy (LDA) program and served as a coach.

"We are proud of these associates’ outstanding contributions that have impacted our partners, members and communities,” said John Carter, President of Nationwide Financial. “These associates have gone above and beyond to provide extraordinary care in all that they do.” 

Nationwide Financial:

Doug Allen– Nationwide Retirement Solutions

• Doug organized a Christmas toy drive for firefighters' children in LaFourche Parish who lost their homes in Hurricane Ida.

Paula Cole – Nationwide Corporate Solutions, Pension Risk Transfer

• Paula has served as the AWARE associate resource group (ARG) vice president and was on the Board of Trustees for Thurber House. She also serves as the District Activist Leader for the National Multiple Sclerosis (MS) Society for Columbus, Ohio.

Brian Harriff – Nationwide Annuity

• Brian volunteered and donated to Samaritan's Purse, a charity that aids the world's poor, sick and suffering with food, medicine and other assistance. Brian also volunteered at the food bank in Allen, Texas.

Karl Kuenning – Nationwide Life Insurance

• Karl is an active member of Be an Angel, a charitable organization benefiting children with multiple disabilities or profound deafness.

Barbie Walsh – Nationwide Retirement Solutions

• Barbie supports Forge Evolution, a Colorado Springs organization that offers a restorative justice teen court program.

Alisha Zaayer – Nationwide Life Insurance

• Alisha has volunteered for several organizations, but focuses on autism-related charities such as NEXT, TACA, and Autism Speaks.

Learn more about Nationwide’s volunteerism and corporate giving efforts. The company also has a number of open roles across the enterprise.

Asset Managers: Digital Marketing Campaign of the Year - A New Approach to Income Generation
The winning campaign, spearheaded by Nationwide’s Investment Management Group Marketing team, involved the delivery of an innovative, digital marketing approach fundamentally designed to address the evolving investment education needs and thought leadership consumption habits of advisors and their clients in the wake of the COVID-19 pandemic. The campaign drove awareness of the newly launched Nationwide Risk-Managed Income ETF (NUSI), serving as a catalyst for both early stage and long-term market adoption. NUSI launched at the end of 2019 and has performed exceptionally well even during the market volatility of 2020, reaching $500 million in assets under management recently, making it the company’s top fund by sales, net flows and asset growth.

Asset Managers: Diversity Equity and Inclusion - Financial Alliance for Racial Equity
The Financial Alliance for Racial Equity was recognized in the Asset Managers: Diversity, Equity and Inclusion category. Nationwide Financial partnered with leading financial services organizations, associations and historically Black colleges and universities (HBCUs) to form FARE in late 2020. FARE’s focus is on increasing the number of Black professionals entering the financial services industry and supporting and investing in them once there.

“Seeing the efforts of our team and partners recognized among the very best and brightest individuals and companies in the financial services industry reinforces what I’ve known all along: we have a great team at Nationwide,” said John Carter, President and COO of Nationwide Financial. “The work of the Nationwide teams that contributed to these awards is nothing less than extraordinary and a clear demonstration of our peoples’ passion for driving change in our industry and helping more Americans achieve a secure retirement.”

View a complete recap of the WealthManagement.com Industry Awards.

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Since the tournament’s inception in 2007, more than $16 million has been raised to support pediatric cancer research and treatment at Nationwide Children’s Hospital in Columbus, Ohio. That philanthropic mission was on display last week as the 15^th annual event was contested August 25-29 at The Ohio State University Golf Club, Scarlet Course where 27-year-old Canadian Adam Svensson earned his second victory of the season and third of his Korn Ferry Tour career.

The week began with an announcement that the Nationwide Children’s Hospital Championship and the PGA TOUR reached a five-year extension to ensure that the tournament will continue as a Korn Ferry Tour Finals event at The Ohio State University Golf Club through 2026.

“Extending this event means we will continue to see the future stars of the PGA TOUR play in central Ohio while enabling us to continue raising awareness and much-needed funds for one of the premier pediatric hospitals in the country,” said John Carter, president of Nationwide Financial and chairman of the tournament’s host organization, Champions of the Community.

Beyond the fundraising, the tournament also offers an opportunity to provide unique experiences for young patients who have overcome serious health challenges thanks to treatment they received at Nationwide Children’s. During the annual Pros Fore Patients event, several Patient Champions and their families gathered at the golf course for some fun and crafts, along with two Korn Ferry Tour pros who helped assemble care packages that will be delivered to inpatients at the hospital.

To kick off the first morning of competition on Thursday, Kinley Strohl from Ashley, Ohio took the ceremonial First Shot to Fight Cancer. After battling a life-threatening form of leukemia as a six-year-old, she is now a thriving 16-year-old who is celebrating ten years cancer free. To honor Kinley’s journey and help her achieve her career goal of becoming a nurse, Nationwide surprised her with a $10,000 college scholarship.

Stories like Kinley’s personalize the purpose of the tournament while the event proceeds fund the hope. The millions of dollars raised each year support innovative research and treatment that is being pioneered by physician scientists and researchers at Nationwide Children’s.

Last year, Nationwide Children’s saw 1.3 million patient visits representing kids and families from nearly every U.S. state and 43 foreign countries. Nationwide Children’s Hospital Championship may be a local tournament on a national tour, but its giving is felt globally.

To learn more about one of the country’s largest not-for-profit pediatric health care systems, visit NationwideChildrens.org.   

This overwhelming support suggests the proposed legislation would be well-timed, with 77% of financial professionals agreeing that COVID-19 has led their clients to slow or stop contributions toward their retirement savings, and another 50% reporting that their clients’ financial security has been negatively impacted by COVID-19.

Financial professionals indicated that when the SECURE Act of 2019 passed, their clients updated their retirement plans (50%), were able to save more in general (48%), increased their retirement account contributions (48%), and increased their emergency savings (47%). Today, they agree that many of the proposed components of SECURE Act 2.0 would make it even easier for their clients to save for retirement and get back on track toward their goals.

Notably, 93% believe allowing employers to match contributions under a 401(k) plan, 403(b) plan or Simple IRA while employees make student loan payments will increase their clients’ financial security. Eight in ten (81%) agree increasing the catch-up contribution limit for those 60+ to $10,000 for retirement plans and $5,000 for simple IRAs will do the same. Similarly, 79% support increasing the Required Minimum Distribution (RMD) age from 72 to 75 years old and 78% agree adding ETFs as an investment option to variable annuities would also be financially beneficial for clients.

Additionally, 93% of financial professionals are in favor of the proposed Saver’s Credit changes, which would simplify and increase tax incentives for low- and middle-income individuals saving for retirement, and 93% say it will promote healthy financial practices.

“The first SECURE Act legislation that passed in 2019 was a tremendous step forward in removing some of the obstacles people experience when saving for retirement,” said John Carter, president and COO of Nationwide Financial. “SECURE Act 2.0 is a significant next step that will help many Americans take control of their financial futures. It’s great to see that advisors and financial professionals helping Americans prepare for retirement also see significant opportunities for their clients in the proposed legislation. We’re encouraged by the bipartisan support taking shape on Capitol Hill.”

In terms of additional opportunities to help clients save for retirement, 94% of financial professionals agree that adding an emergency savings provision to the proposed legislation that would permit employees to withdraw or use limited retirement plan contributions for critical short-term financial needs without an early distribution tax penalty would help improve Americans’ financial security, and 91% agree that it should be included as part of the SECURE Act 2.0 legislation.

“We saw first-hand how many Americans turned to their retirement savings to bridge the gap when faced with a COVID-19-related emergency,” said Eric Stevenson, president of Nationwide Retirement Solutions. “By building an emergency savings component into a retirement plan, participants could tap funds without incurring excessive tax consequences or pulling their assets out at market lows. It’s our hope that lawmakers consider an emergency savings provision for SECURE Act 2.0 or in a separate piece of legislation to address lessons learned during the COVID crisis.”

Stevenson testified before a U.S. Senate subcommittee in support of the proposed legislation in December.

View an infographic highlighting survey results.

Methodology
Nationwide commissioned Edelman Data and Intelligence (DxI) to conduct a 13-question, online survey among 500 full-time U.S.-based financial advisors and financial professionals. Online fieldwork was completed between February 9 – 19, 2021.

On Wednesday, Dec. 16, officials from both tournaments announced that each event had set new charitable giving records despite an unparalleled year of challenges.

2020 Memorial Tournament presented by Nationwide
The 45^th playing of the prestigious Memorial Tournament presented by Nationwide, contested annually at Muirfield Village Golf Club, raised a record-setting $3.1 million for Nationwide Children’s Hospital. It is the first time the Tournament’s yearly charitable giving total has topped $3 million.

“The 2020 Memorial was certainly unlike any other, but we never lost focus on the importance of charity,” said executive director Dan Sullivan. “Despite the extreme challenges, the Tournament overcame a lot of obstacles, and with the support of many, we raised the bar to set a single year giving record for Nationwide Children’s. This is an amazing accomplishment given all that we faced during the pandemic.”

Since its inception in 1976, the Memorial has eclipsed $38 million in donations to central Ohio Charities, with nearly $26 million going to Nationwide Children’s.

Nationwide Executive Vice President and Chief Marketing Officer, Ramon Jones, said the announcement is a “celebration of the collaborative success in raising essential dollars for Nationwide Children’s Hospital.”

“Nationwide and the Memorial share a similar tradition of support for the hospital. This record-setting gift is a terrific example of the power of partnerships among many organizations coming together to help kids and support the life-changing work happening every day at Nationwide Children’s,” Jones added.

2020 Nationwide Children’s Hospital Championship
The 14^th annual Nationwide Children’s Hospital Championship, hosted at The Ohio State University Golf Club – Scarlet Course, also generated record-setting charitable giving raising $2.67 million for central Ohio organizations, including $2.5 million for pediatric cancer research and treatment at Nationwide Children’s Hospital. The total marks the largest single-season charitable donation raised for the hospital in the 14-year history of the Korn Ferry Tour Finals event and the fourth consecutive time the $2 million mark has been exceeded.

“The commitment that our sponsors provide year after year never disappoints,” said John Carter, president and chief operating officer for Nationwide Financial and president of the Champions of the Community, the host organization for the Nationwide Children’s Hospital Championship. “Their unwavering generosity was on full display in 2020 as they went above and beyond to support the tournament and Hospital despite the unprecedented times that led to a condensed pro-am schedule and competition rounds conducted without fans. We are truly grateful for their continued partnership.”

“In a year of such uncertainty, we are humbled by the donation made through the Nationwide Children’s Hospital Championship to our pediatric cancer program,” said Tim Robinson, CEO, Nationwide Children’s Hospital. “We are making incredible strides in pediatric cancer care thanks to the charitable spirit of the tournament’s partners, the Korn Ferry Tour, The Ohio State University Department of Athletics and all of the volunteers who contribute to this fantastic event.”

Since its beginning in 2007, the Nationwide Children’s Hospital Championship has donated a total of over $16.2 million in support of the hospital’s pediatric cancer program.

For more information about Nationwide Children’s Hospital or to make a donation, visit nationwidechildrens.org.

“It has been just over one month since COVID-19 was declared a global pandemic, and it is taking a toll on every aspect of our lives,” said John Carter, President and COO, Nationwide Financial. “People are struggling, they are making sacrifices, and we firmly believe that their health and safety should be everyone’s top priority right now. We are also committed to helping Americans protect their financial health for the long term. Our latest research identifies areas where they are challenged and looking for guidance.”

Roughly one quarter of respondents (24%) and the subset of investors (26%) are seeking help by engaging a financial advisor for the first time ever as a result of the pandemic. These are among the findings revealed by a new study from the Nationwide Retirement Institute of more than 2,000 American adults age 18+, including over 600 U.S. investors with investable assets of $100,000 or more, conducted online by The Harris Poll. The poll was conducted in April 2020.

“Right now, Americans feel a lack of control and a need for more guidance,” said Kristi Rodriguez, leader of the Nationwide Retirement Institute. “Even if they do all the right things to manage their finances and investments, the vast majority of Americans, including 80% of all respondents and 85% of investors, agree they can still be blindsided by outside events. According to 49% of respondents and 52% of investors, the COVID-19 pandemic made them realize that they need help managing their finances and investments to succeed in the future.”

Loss of Control and Need for Guidance

When asked how they feel about the impact of COVID-19 on their current personal finances, all respondents and investors are most likely to say they are cautious (38% and 41%, respectively) or uncertain (32% and 28%). If there is any silver lining, it is that roughly two in ten say they feel optimistic (18% respondents and 22% investors) and only a few say they feel hopeless (7% and 5%, respectively).

Advisors top the list of trusted sources for general financial and money management advice during the pandemic. All respondents say their top choices include a financial advisor (37%), friends & family (29%), online investment management/financial planning tools (20%) and their employer sponsored retirement plan (20%). Investors say their top choices include a financial advisor (55%), with friends and family a distant second (26%), followed by online investment management/financial planning tools (25%) and their employer sponsored retirement plan (24%).

Less than one-third of respondents (31%) already had an advisor, compared to more than half of investors (58%). More than one-third of respondents (35%) and nearly half of investors (49%) are now relying on a financial advisor more than ever due to the impact of the COVID-19 pandemic. But nearly two in ten respondents (19%) and 14% of investors say they don’t trust anyone for financial advice during the pandemic.

Top Financial Concerns and Meeting Immediate Needs

While roughly one-quarter of respondents (24%) and one-third of investors (31%) do not expect the pandemic to impact their ability to meet their financial obligations, the majority of Americans are now feeling pressure.

Among all respondents, the top three financial concerns related to the COVID-19 pandemic are being unable to pay bills or meet their financial obligations (45%), losing their life's savings (33%) and losing their employment (30%). Among investors, the top three financial concerns related to the pandemic include losing their life’s savings (41%), being unable to pay bills or meet financial obligations (34%), while they are equally worried about being unable to afford healthcare and being unable to retire as planned (both 28%).

When it comes to meeting their financial obligations if impacted by COVID-19, roughly one-third of Americans, including 32% of all respondents and 36% of investors, will tap their savings. Respondents overall are somewhat more likely than the subset of investors to need other sources such as delaying paying bills (24% vs 19%, respectively), relying on one-time payment from the stimulus package (22% vs 15%), relying on help from family and friends (19% vs 15%), and relying on unemployment insurance (13% vs 10%). Both are almost equally likely to increase credit card debt (18% vs 17%).

Solutions for Protecting Financial Futures and Loved Ones 

Heightened uncertainty and complexity are driving a need for greater financial protection. Roughly half of respondents and investors agree that the COVID-19 pandemic has made them recognize the need for annuities to protect their investments against market risk (47% and 51%, respectively) and to protect their retirement income (48% and 51%). More than half of respondents and investors also say the pandemic has made them recognize the need for life insurance (57% and 55%).

Americans are also worried about protecting their families and loved ones. Roughly four in ten of all respondents and investors are concerned the COVID-19 pandemic will impact their ability to fulfill potential caregiving responsibilities for others due to financial strain (44% and 41%) or due to their own illness caused by COVID-19 (42% and 40%). The majority of respondents and investors (56% and 57%) also say that the pandemic has made them recognize the need for long-term care insurance for themselves and the people they care about.

Staying the Course for the Long Term 

While the pandemic impacts immediate financial needs and the ability to care for family and loved ones, 42% of Americans say they are staying the course with their long-term investments.

When managing their qualified retirement savings plans, such as their 401(k), 403(b), 457 and IRA, in response to COVID-19, nearly half of all respondents and investors say they will make no change and stay the course (42% vs 50%, respectively). If making changes to their qualified plans, respondents and investors are somewhat more likely to move to a more conservative allocation (14% and 19%, respectively), and somewhat less likely to move to a more aggressive allocation (10% and 15%). However, respondents overall are less likely than the subset of investors to increase contributions (10% vs 16%) but also somewhat less likely to decrease contributions (10% vs 14%).

When managing their other investments, such as stocks, bonds, mutual funds and ETFs, in response to the COVID-19 pandemic, many respondents and investors also say they will make no change and stay the course (35% and 42%). If making changes to their other investments, respondents are most likely to move their portfolio to a more conservative allocation (14%) or invest more in the stock market (13%), while only 10% would take money out of the stock market and only 9% would move their portfolio to a more aggressive allocation. Investors making changes to their other investments are most likely to invest more in the stock market (22%) or move their portfolio to a more conservative allocation (19%), while 15% would take money out of the stock market and 14% would move their portfolio to a more aggressive allocation.

While respondents overall are somewhat less likely than the subset of investors to meet financial obligations, if impacted by COVID-19, by selling shares in qualified retirement plans (10% vs 16%), this may in part reflect the fact that nearly two in ten respondents (18%) don’t have a qualified retirement savings plan, whereas only 4% of investors do not. Likewise, while respondents overall are less likely than the subset of investors to meet their financial obligations by selling shares in non-qualified investments (8% vs 16%), this may also reflect the fact that nearly one quarter of respondents (24%) don’t have these other investments, whereas just 6% of investors do not.

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Methodology

This survey was conducted online within the United States between April 8-10, 2020 among 2,042 adults (aged 18 and over) by The Harris Poll on behalf of Nationwide via its Harris On Demand omnibus product. This sample included 603 investors defined as those adults with investable assets of $100K+. Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was used to adjust for respondents’ propensity to be online.

Respondents for this survey were selected from among those who have agreed to participate in our surveys. Because the sample is based on those who agreed to participate in the online panel, no estimates of theoretical sampling error can be calculated.

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 SECURE Act is a much-needed and highly anticipated step in creating new pathways to retirement security. We have new opportunities today to protect people, businesses and futures in proven and innovative ways,” said John Carter, president and COO of Nationwide Financial.

Emphasizing the importance of this legislation, according to Nationwide’s recent business owner survey1, 80% of small business owners believe the SECURE Act will allow them to offer a 401(k) plan that rivals those offered at large corporations. Among those who are familiar with the SECURE Act, 84% believe the legislation should make it easier for small business owners to offer a 401(k). In addition, nearly nine in 10 agree that the legislation provides both their business and employees tax advantages (88%), helps attract and recruit top talent (88%) and helps improve employee retention (86%).

“With record low unemployment rates making it harder for small businesses to retain top talent, paired with America’s growing retirement preparedness challenge, the SECURE Act offers a solution for making workplace retirement plans easier to offer: open Multiple Employer Plans (MEPs). MEPs allow small businesses to pool their resources to offer a workplace retirement plan that is cost effective and administratively simpler,” Carter added.

For the past decade, Nationwide has engaged with lawmakers on additional legislative reforms to ensure private-sector small businesses’ needs are addressed and their employees are supported. As part of the retirement reform discussions, Nationwide helped to develop the open MEPs concept that is a key part of the SECURE Act.

In addition to MEPs, the passage of the SECURE Act also advances a provision that provides small business owners a financial incentive to offer their employees a plan, thus increasing American workers’ access to workplace retirement plans. The legislation provides an annual tax credit that covers up to $5,000 of plan costs for the first three years that an employer offers a workplace retirement plan.

“Nationwide is a strong supporter of enhancements to our retirement system that enable and protect the future for Americans and small businesses. We applaud Congress for the bipartisan support of this legislation and urge the president’s swift signature,” Carter said.

Carter added the company will be working with firms and advisors during the implementation phase of the new provisions.