Nationwide Investment Advisors, LLC is an investment management and financial advisory firm with its headquarters in Columbus, Ohio. The firm is an arm of Nationwide Life Insurance Co., one of the most prominent insurance companies in the U.S. Nationwide also offers banking services, loan services and investment services.
Nationwide Investment Advisors has nearly $9.5 billion in client assets under management (AUM) and a massive team of financial advisors. While it provides clients with investment management services, it does not offer financial planning. The firm principally works with individual clients.
Nationwide Investment Advisors Background
Nationwide Investment Advisors was officially formed in 2006 as a limited liability company. The firm is a wholly owned subsidiary of Nationwide Life Insurance Co., which is, in turn, wholly owned by Nationwide Financial. Nationwide Corporation is the owner of Nationwide Financial, while also being the holding company for companies under the Nationwide Mutual Insurance Company umbrella. Nationwide Investment Advisors employs over 350 advisors, many of whom hold financial certifications.
Nationwide Investment Advisors Client Types and Minimum Account Sizes
Nationwide Investment Advisors works mainly with individual clients, all of which do not have a high net worth. Of its over 214,000 clients, all are individuals, aside from a handful of pension and profit-sharing plans.
This firm has no minimum account size requirements for new clients.
Services Offered by Nationwide Investment Advisors
Nationwide Investment Advisors provides its clients with discretionary investment advisory services. Some of these services are provided to plan sponsors and participants of employee benefit plans. Nationwide also contracts with outside companies to provide investment advising, such as the development and management of model portfolios known as "ProAccount."
Nationwide Investment Advisors Investment Philosophy
Nationwide Investment Advisors works with a huge range of clients, many of which simply participate in model portfolios selected by third-party advisory contractors. As a result, this firm does not have a set, detailed investment philosophy as many other firms do. That said, the firm still looks to take note of a client's particular investment situation, making proper recommendations based off of their personal information.
As a result of the above, Nationwide's portfolios may include investments from across a wide range of securities and other products. Investments typically vary by portfolio type and strategy.
Fees Under Nationwide Investment Advisors
Nationwide Investment Advisors charges different fees depending on the level and type of service it provides. Non-discretionary services are typically rolled into other programs and do not incur a separate fee.
The maximum annual fee for its Advice Program for Plan Sponsors of Trustee-Directed Retirement Plans is 0.50%. On the other hand, there is a 0.02% maximum annual fee for non-discretionary investment advice for governmental plan sponsors. The ProAccount in the Nationwide Retirement Program has a maximum annual fee of 1.00%, whereas the ProAccount in the NRS Retirement Program carries a maximum annual fee of 0.65%.
What To Watch Out For
Nationwide Investment Advisors has a single disclosure listed on its SEC-filed Form ADV. This disclosure came as a result of a violation of SEC Rule 22C-1, which sets forth the regulations surrounding the processing of purchase and redemption orders for variable contracts. In 2011 the firm was fined $8 million and ordered to cease and desist.
Opening an Account With Nationwide Investment Advisors
Those interested in learning more about Nationwide Investment Advisors' services can call (614) 435-8371.
All information is accurate as of the writing of this article.
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