Nationwide Retirement Solutions has launched an advisor-intermediated retirement plan platform called RetireAssist, featuring “core” and “flex” offerings respectively tailored for small and mid-sized employers.
The “inaugural solutions” under the RetireAssist umbrella are designed for advisor-sold 401(k) and 403(b) plans with less than $25 million in assets, according to the announcement. Moving forward, additional solutions will be added to the suite to keep pace with advisor and client needs, with the next product focusing on group plans.
The core solution is designed to appeal to advisors who value a turnkey plan for clients with retirement plans with less than $10 million in assets. It offers a single-priced, simplified plan design, including a set of 300 funds and streamlined plan set-up and management.
The flex solution, on the other hand, is tailored for plans with between $10 million and $25 million in assets. It offers a customizable plan design approach with an open-architecture fund universe.
“Advisors know that employer-sponsored retirement plans aren’t ‘one size fits all,’” Rich Porter, senior vice president of distribution, said in a statement. “This suite helps position advisors for success with their retirement plans business, meets plan sponsor needs and includes high-touch service and support for participants.”
Both the core and flex solutions provide access to Nationwide’s service and support team, including dedicated relationship managers, implementation managers and product specialists for advisors, plan sponsors and their third-party administrators.
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