Product & Service Launches 7/31/25
Vestwell announces multilingual savings platform; Nationwide to sell Midland National commission-free indexed annuity; State Street Investment Management and Xtracker launch ETFs.
Vestwell Announces Multilingual Savings Platform
Vestwell launched a multilingual savings platform that will offer retirement plan participants and sponsors engagement in 18 languages. The company said the platform is meant to reflect the current workforce and assist more workers by engaging in their preferred language.
“Too often, language gets in the way of people taking the first step toward saving,” said Aaron Schumm, CEO of Vestwell, in a statement. “This launch is about removing that friction—giving every saver a clearer, more comfortable path to engage, participate, and build financial security over time. It’s one more step toward a system that works for everyone, not just a few.”
Nationwide to Sell Midland National Commission-Free Indexed Annuity
Nationwide, a wholesale distributor of advisory variable annuities will sell a Midland National Capital Income fixed annuity for fee-only advisers.
Nationwide will distribute the product alongside Midland National Life Insurance Company. The product intends to provide guaranteed lifetime income through a Guaranteed Lifetime Withdrawal Benefit that has a 1% annual fee.
State Street Investment Debuts Suite of ETFs
Asset management firm State Street Investment Management launched eleven Select Sector SPDR® Premium Income Funds. Each fund intends to offer investors protection against sector trends while enhancing the possibility for greater returns during volatility and drawdowns.
The funds will invest in several sectors, including: communication services, energy, finance, health care, real estate and technology.
Xtracker Launches Diversified ETF
Xtrackers, a division of German asset management company DWS, launched Xtrackers S&P 500 Diversified Sector Weight ETF.
The fund is available for trading on the NASDAQ. The ETF will seek investment results that track the performance of the S&P 500 Diversified Sector Weight Index. That index is designed to track the performance of the S&P 500 Index and is adjusted to account for underperformance in each sector.