Nationwide Financial says it is developing a new variable annuity strategy planned for release "early next year." The insurer will include tools intended to help registered reps choose subaccounts that best fit their clients' specific needs.

The Columbus, Ohio-based insurer said it will announce details on the first phase of the strategy next month. It did reveal that the new tools are Web-based and are intended to help registered representatives more easily explain differences in annuity investment options and riders and select the most appropriate investment options for their clients.

"Performance, protection and choice are the qualities our sales partners tell us their clients are most interested in, and we have built these products with that in mind," said Richard A. Karas, president of NFS Distributors Inc.

The lineup includes more than 60 investment options from 13 fund groups as well as a principal-protected fund. The product will also feature five Gartmore GVIT Investor Destinations subaccounts. These accounts are essentially asset allocation portfolios optimized to different risk criteria. The VA will carry subaccounts managed by: AIM, Alliance Capital, American Century, Dreyfus, Federated Investors, Franklin Templeton, Fidelity Investments, Janus, MFS, Neuberger Berman, OppenheimerFunds and Van Kampen as well as its Gartmore affiliate. 

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