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.
