COLUMBUS, Ohio and RICHMOND, Va., March
15, 2021 /PRNewswire/ -- Nearly three in four (72%)
investors said the pandemic has negatively impacted their ability
to retire, according to Nationwide's sixth annual Advisor
Authority Study, powered by the Nationwide Retirement
Institute. Now, Nationwide, one of the strongest, diversified,
Fortune 100 insurance and financial services companies, and
Envestnet | MoneyGuide, the creator of a leading financial planning
software, MoneyGuidePro®, have announced a new partnership to
help.
MoneyGuide offers holistic planning tools that allow
advisors and financial professionals to bring clarity to the
discussion around a client's comprehensive financial plan. This now
includes recently added capabilities using analytics to illustrate
income distribution, as well as to analyze the client's benefits
and tradeoffs of adding an annuity or other retirement income
solutions. As part of this partnership, Nationwide wholesalers will
have access to MoneyGuide, as well as training resources to help
advisors and financial professionals better leverage MoneyGuide's
retirement income tools and other holistic planning capabilities
within their practice—and better meet the needs of the clients they
serve.
For advisors and financial professionals, technology is becoming
more critical for creating back-end efficiencies, delivering a
customized client experience and developing personalized, holistic
financial plans. In fact, investors say that personalized advice as
part of a holistic financial plan is consistently among the top
three reasons they choose to work with an advisor or financial
professional, according to Advisor Authority. But these
aren't the only factors driving the adoption of technology
solutions.
"The COVID Pandemic is driving the convergence of two powerful
trends: advisors' accelerated adoption of technology and investors'
growing need to protect against outliving savings with a guaranteed
stream of retirement income," said Craig
Hawley, Head of Nationwide's Annuity Distribution. "Our new
alliance with MoneyGuide gives advisors and financial professionals
the tools they need to demonstrate the value of lifetime income and
seamlessly integrate a guaranteed income solution into a client's
holistic financial plan."
A growing number of investors, including 75% of Millennial
investors and 69% of Gen X investors, say they are likely to choose
an annuity in the next 12 months to help protect against outliving
savings and generate income as part of a holistic financial
plan. Currently, a selection of Nationwide's annuities
offering a guaranteed income solution are available for
illustration on the platform.
"Generations of investors have trusted Nationwide to protect
their wealth, protect their retirement and better prepare them for
the future," said Tony Leal,
President of Envestnet | MoneyGuide. "This partnership is a
springboard for the advancement of financial wellness, and with
these new capabilities, advisors and financial professionals can
rely on Envestnet | MoneyGuide and Nationwide to continue providing
access to solutions that can help their clients achieve the
financial future of their dreams."
Nationwide has a team of dedicated resources to help advisors
and financial professionals integrate MoneyGuide into their
practice and their holistic financial planning process. To learn
more, advisors and financial professionals can call their
Nationwide wholesaler or contact fintech@nationwide.com.
About Nationwide
Nationwide, a Fortune 100 company
based in Columbus, Ohio, is one of
the largest and strongest diversified insurance and financial
services organizations in the United
States. Nationwide is rated A+ by both A.M. Best and
Standard & Poor's. An industry leader in driving
customer-focused innovation, Nationwide provides a full range of
insurance and financial services products including auto, business,
homeowners, farm and life insurance; public and private sector
retirement plans, annuities and mutual funds; excess & surplus,
specialty and surety; pet, motorcycle and boat insurance. For more
information, visit www.nationwide.com. Follow the firm
on Facebook and Twitter.
About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial
advice and wellness are delivered. Our mission is to empower
advisors and financial service providers with innovative
technology, solutions, and intelligence to make financial wellness
a reality for everyone. Over 106,000 advisors and more than 5,100
companies including: 17 of the 20 largest U.S. banks, 47 of the 50
largest wealth management and brokerage firms, over 500 of the
largest RIAs and hundreds of FinTech companies, leverage Envestnet
technology and services that help drive better outcomes for
enterprises, advisors and their clients.
For more information on Envestnet | MoneyGuide, please
visit www.moneyguidepro.com and follow us on Twitter
at @ENVMoneyGuide.
Nationwide and Envestnet are separate and unaffiliated
firms. This release should not be construed as a
recommendation or endorsement of any particular product, service,
or firm. Nothing contained in this release is intended to
constitute legal, tax, accounting, securities, or investment
advice, nor an opinion regarding the appropriateness of any
investment, nor a solicitation of any type.
Nationwide, Nationwide is on your side, the Nationwide N and
Eagle and Nationwide Retirement Institute are service marks of
Nationwide Mutual Insurance Company. © 2021
Contact: Meghan Busch
Bliss Integrated Communication
212-840-1661
MBusch@blissintegrated.com
Deborah Newman
Nationwide
502-587-3858
newmad4@nationwide.com
Dana Taormina
JConnelly for Envestnet
973-647-4626
envestnetpr@jconnelly.com
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SOURCE Envestnet | MoneyGuide; Nationwide