Nationwide Releases 408(b)(2) Solutions Kit for Advisers

Nationwide Financial unveiled a 408(b)(2) Solutions Kit to help clients adapt to the Department of Labor (DOL) fee disclosure regulations, which take effect July 1.

Designed for retirement plan advisers, the Solutions Kit has a guide that outlines Nationwide’s tools and services to use with plan sponsors to help them understand and comply with the requirements.

Other features include:

Summary of the DOL requirements;

Summary to help plan fiduciaries understand their responsibilities for reviewing the reasonableness of the fees paid to service providers; and

Pointers advisers can use with plan sponsors to explain the services they provide that add value to their retirement plan.

Nationwide also has created an Employee Retirement Income Security Act (ERISA) and Regulatory Online Resource where advisers can have their questions answered by the company’s regulatory specialists.

“Nationwide understands plan sponsors will be depending on their advisers to help them navigate and comply with the upcoming regulatory changes that affect their plan and its participants,” said Anne Arvia, president of Retirement Plans for Nationwide Financial.