NU Online News Service, April 28, 2003, 12:23 p.m. EDT – Nationwide Financial Services Inc., Columbus, Ohio, says it plans to introduce an advisory service payment option for non-registered investment advisors and certified public accountants who advise the registered representatives that sell its qualified retirement plans.
Nationwide is offering the fee-based payment option, which it calls the Plan Advisory Service, to non-registered RIAs and CPAs who advise on sales of the company’s Retirement Resource and Retirement Advisor products.
Nationwide sells the products to employers under the Best of America brand name.
RIAs and CPAs will have a choice of several payment options. They can get a flat fee per participant, a flat fee per plan, or a payment based on a percentage of plan assets, Nationwide says. Nationwide will determine the fees for the future quarterly period, then deduct the fees from the retirement plan’s assets.