NU Online News Service, Feb. 21, 10:35 a.m. – Nationwide Financial Services Inc., Columbus, Ohio and SunTrust Banks Inc., Atlanta, have set up a new proprietary partnership to develop and produce retirement plans for SunTrust’s small business and commercial customers.
The program targets companies developing new retirement plans or whose existing plans have $2 million or less in assets.
This new alliance marks the first cobranded deal for Nationwide Financial’s Best Of America group pension series. The plans will be sold through SunTrust Securities Inc., a registered broker-dealer affiliate of SunTrust Banks.
The Best of America program includes a selection of 45 funds from strategic money managers, including 10 funds from the STI Classic Funds line.
Nationwide and SunTrust have established a new cobranded Web site, http://www.suntrust.bestofamerica.com/, to promote the alliance retirement plans.