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Rona Guymon

Life Health > Annuities > Fixed Annuities

Nationwide to Distribute MassMutual Indexed Annuities for RIAs

By Allison Bell

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Nationwide is going outside to expand its annuity menu.

The Columbus, Ohio-based, policyholder-owned insurer said it will court registered investment advisors by offering them fee-based, non-variable indexed annuities from Massachusetts Mutual Life’s MassMutual Ascend unit.

Rona Guymon, a senior vice president in the company’s Nationwide Annuity Distribution arm, said Nationwide likes its new annuity supplier’s operating performance and customer service.

The new relationship “demonstrates our commitment to offering a broader suite of solutions that enables advisors and financial professionals to provide more options,” Guymon said.

What It Means

Nationwide has been a major distributor of fee-based variable annuities.

The MassMutual relationship may show how the conflict between clients’ wants and insurers’ risk-management goals is pushing insurers to get creative about how they stock their annuity shelves.

The Products

Like Nationwide, MassMutual is a policyholder-owned mutual insurer, not a company owned by outside investors.

Nationwide plans to start by offering MassMutual indexed annuities with early withdrawal charges or market-value adjustments for early withdrawals that end after four years, five years or seven years.

Pictured: Rona Guymon. Photo: Nationwide

Allison Bell

Think_Allison

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