MSSB Launches UMA Annuity Feature with Nationwide

Morgan Stanley Smith Barney launched Select Retirement, an optional income protection feature that is specially designed to augment the Select UMA unified managed account program.

Select Retirement employs a fixed-income annuity issued by Nationwide Life Insurance Company (Nationwide) in order to create guaranteed lifetime income from the Select UMA account, according to a news release. Before and after activating Select Retirement, eligible investors can use Select UMA to help build assets. Select UMA provides a selection of diversified asset allocation strategies and the ability to construct portfolios with a mix of separately managed accounts, mutual funds, and/or exchange-traded funds (ETFs).

“The ability to combine Select Retirement with Select UMA provides financial advisers with a powerful program for clients who seek to balance asset growth potential while at the same time eliminating the worst-case scenario of outliving their income,” said James J. Tracy, director of Consulting Group for Morgan Stanley Smith Barney, in the release.