Add a new player in the DCIO market. Nationwide, which has a significant presence in the small 401(k) market as well as with other DC and 457 plans, has hired five wholesalers plus a full support team to distribute their funds through advisors.
There have been very few money management firms that have successfully launched a DCIO since the Great Recession. Nationwide has certain advantages — and disadvantages. While they will enjoy good exposure on their own record keeping platform, it’s hard to imagine that their competitors will welcome Nationwide’s funds. It’s the dilemma of bundling any of the three services — record keeping, money management and distribution.
For advisors, it’s just another provider willing to support their practices.
