Nationwide Financial and Federated Investors are offering a new variable annuity targeting the retirement market. The Retirement Ally is a single-manager variable annuity intended for registered representatives who do not currently sell annuities, said the firms. The product is designed to build reps' comfort with VAs.

"This is a 'back-to-basics' strategy to help registered representatives and their clients understand the tax deferral benefits and beneficiary protection variable annuities can offer in various market climates, " said Jim Getz, President, Federated Securities Corp. "Retirement Ally gives them a product designed to round out a retirement plan, both for existing and prospective clients."

Peter A. Golato, senior vice president of brokerage and wirehouse sales for Nationwide Financial said the VA is the beginning of a series of variable annuities it will offer reps. 

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