Nationwide Unveils Fee-Based Service Plan

April 24, 2003 ( - Nationwide Financial is slated to introduce a fee-based advisory service payment option called Plan Advisory Service

Nationwide said the option is available to Registered Investment Advisors (RIAs) and Certified Public Accountants (CPAs) who provide qualified retirement plans to clients through a fee arrangement rather than on a commissioned basis. With this option, RIAs and CPAs can now advise on The BEST of AMERICA Retirement Resource and Retirement Advisor without being a registered representative, Nationwide said.

RIAs and CPAs can select from among several fee-based options, including:

  •   a percentage of plan assets
  •   a specified fee per participant
  •   a specified fee for the plan.

These fees are determined for the prospective quarterly period and then deducted from the assets of the retirement plan on a pro rata basis.