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Nationwide launches fee-based variable annuity for fiduciary advisors

More clients want retirement income, but are fiduciaries willing to pitch annuities?

Business people in meeting with laptop Even as insurers recalibrate product and compensation design to accommodate fiduciaries, and more clients become interested in such products, barriers remain. (Photo: Shutterstock)

Ten years ago, when Craig Hawley, general counsel of Jefferson National at the time, picked up the phone to discuss what was then the insurance industry’s seminal insurance product pipeline to fee-based advisors, he often met a tepid response from fiduciaries.

“The question was how fast they could hang up on us,” said Hawley, who now heads Nationwide Advisory Solutions after Nationwide finalized its acquisition of Jefferson national in 2017.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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