Nationwide has bolstered its shelf of annuity offerings with new additions to its fixed index annuity suite.
The retirement and insurance giant's latest offerings, unveiled Monday, extends its New Heights Select FIA suite to include seven options.
FIAs have been on fire this year, according to Limra, with first-half sales rising 20 percent year over year to reach $58.3 billion. Preliminary data point to even greater strength in the third quarter, with $34.9 billion in FIA sales coming on the back of a 54 percent annual increase.
The new indices in Nationwide's FIA suite, offered in partnership with Loomis Sayles and Nasdaq, aim to provide financial advisors and their clients with enhanced opportunities to protect and grow retirement savings amid continued market volatility.
Among many other significant findings in its 2024 Advisor Authority survey, Nationwide said 19 percent of investors identified asset protection against market risk as the most significant benefit of working with financial professionals.
“The launch of these indices within the New Heights Select suite marks another milestone in our 10-year partnership with Annexus,” Mike Morrone, vice president of Nationwide annuity business development, said in a statement. “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.”
The Loomis Sayles Discovery Index dynamically allocates between US growth and value equities, incorporating alternative strategies to mitigate the effects of inflation and interest rate changes. Kevin Charleston, chairman and CEO of Loomis Sayles, described the index as “using advanced mathematical techniques” to respond to market conditions and strategically rebalance.
Meanwhile, the Nasdaq-100 Volatility Control 10% PR Index, developed in partnership with Annexus, a firm specializing in insurance and retirement product design, leverages the truVol Risk Control Engine to manage risk by shifting allocations to cash during periods of heightened market volatility.
“The addition of these two indices enhances the diversification opportunities for advisors and their clients,” said Ron Shurts, CEO and co-founder of Annexus.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
