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.