SUMMARY OF ADVISOR SERVICES

Transcription

1 SUMMARY OF ADVISOR SERVICES Nationwide wants servicing your clients to be as easy as possible. That s why we created the Advisor Services Disclosure Form to help you comply with federal regulations governing retirement plans, so you can concentrate on what you do best. To generate your summary, simply fill in the information about your client and your firm, and check the appropriate boxes for the applicable services. Please use Adobe Acrobat Reader version 8.0 or above. Click on the field prompt to highlight it and type in your information. The bracket information will not print (if you do not want to view the bracket information, insert a space into the field). Don't forget to sign the last page before distributing the document. Also, print this as a one-sided document, so you can remove this instruction sheet before sharing it with the plan sponsor. Nationwide is not responsible for the information you enter in the document. Nor does Nationwide assure that, by using the form, you or your client are in compliance with ERISA regulations. It s also important to remember: All planning services must be completed in accordance with your firm s internal policies and procedures Only approved tools, software and forms may be used in the performance of planning services Only properly licensed financial advisors may engage in financial planning Your firm may require prior approval before you use this tool. Please verify with your firm s compliance department. PLEASE REMOVE THIS PAGE AND ANY EXTRA PAGES BEFORE DISTRIBUTING THIS DOCUMENT TO THE PLAN SPONSOR

2 If you would like to add your firm's logo to this form, please click on this box. Then you will be able to browse your computer to find your firm's logo image file. In order to be added, the image file must be a.jpg, or.png. (Box will not print.) SUMMARY OF ADVISOR SERVICES Prepared for: Provided by: Phone: Fax:

3 ABOUT OUR FIRM Firm name: Number of plans served: Number of participants served: Total $ amount of plan assets: Number of years in business: Firm overview:

4 OUR TEAM MEMBERS Name: Phone: Number of years in financial services: Number of years in retirement plans: Biography/experience:

5 OUR TEAM MEMBERS Name: Phone: Number of years in financial services: Number of years in retirement plans: Biography/experience:

6 OUR TEAM MEMBERS Name: Phone: Number of years in financial services: Number of years in retirement plans: Biography/experience:

7 SERVICE PROVIDED Compensation information To access compensation information, please log on to your plan s website at and click on the Third Party Compensation tab. Advisor fiduciary services information Your advisor serves in a fiduciary capacity for your plan: Yes No Schedule of advisor services The chart below lists the services we provide and the timeframe in which they will be performed. Use it as a planner to see how events fit together to create a year-long service schedule. You ll note the general categories of services (Investment Selection, Plan Monitoring, etc.) are further divided into sub-categories of specific services (Create Investment Policy, Annual plan review, etc.). The time period in which the service is to be performed is shown both quarterly (Q1 Q4) and monthly (Jan Dec). Q1 Q2 Q3 Q4 SERVICE DESCRIPTION Create Investment Policy Statement (IPS) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC INVESTMENT SELECTION ENROLLMENT SUPPORT AND ONGOING EDUCATION FOR PARTICIPANTS Schedule and conduct enrollment meetings Schedule and conduct educational seminars INVESTMENT MONITORING Review current investment alternatives Suggest changes to investment alternatives PLAN MONITORING Service provider benchmarking Regulatory updates Review results of enrollment meetings Review plan operations Annual plan review

8 SERVICE DESCRIPTION Summary Plan Description (SPD), including updates and record participant receipt Correspondence announcing the plan Pre-enrollment and enrollment communications PLAN DUE DILIGENCE Plan Records and Trust Documents Employee Communication and Education Q1 Q2 Q3 Q4 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Summary Annual Report (SAR) Form 5500 Auditor s statements, if applicable Fiduciary liability and directors and officers policies, if applicable Documentation of new participants receipt of plan communications (e.g., SPD, Q&A brochure and other required communications) Records of annual plan administration provided by the plan advisors Filings SELECTION OF INVESTMENT AND SERVICE PROVIDERS Provider Selection Criteria and Comparisons Request for proposal and/or other documentation of provider search and requirements Service Provider Agreements and Insurance Investment provider and plan administrator agreements and any updates or amendments IPS Selection of Investment Options Documentation used to select investment options (e.g., Investment Profiles, performance summary and other information gathered for investment analysis) ONGOING MONITORING Insurance Policies and Bonds Proof of Insurance by service providers Notification to participants regarding plan changes Documentation of periodic investment review, including any updates to the IPS or investment monitoring criteria Documentation of service provider s performance against plan needs Fund performance review Review of fees Employees Communication and Education Investment Monitoring Plan Administration Additional Monitoring Insert New Section Fund comparison

9 IMPORTANT ADMINISTRATIVE AND COMPLIANCE DATES Here are the forms and reports that need to be completed, submitted, distributed and/or mailed, along with their due dates. Please be advised that some of the dates listed below may not apply to every plan. Some of the dates reflected are the next business day following a filing date of an IRS or Department of Labor form that otherwise would fall on a Saturday, Sunday, or a legal holiday. January February 1/31 Form W-2 Form 1099-R Form 945 2/14 4th quarter participant statements March April 3/15 Corrective distributions 4/1 Required Minimum Distributions 4/15 Excess deferrals and allocatable income May June 5/15 1st quarter participant statements 6/30 EACA corrective distributions

10 July August 7/31 Notice to terminated vested employees Plan audit Form 5500 or Form 5558 Form 8955-SSA or Form 5558 Annual participant statements Form /14 2nd quarter participant statements September October 9/14 Annual participant statements 9/15 Money Purchase Plan Contributions Deductible contributions Form 5500; Form 8955-SSA; and notice to terminated vested employees 9/30 Summary annual reports 10/2 Safe Harbor notices Automatic enrollment notices 10/15 Corrective Plan Amendment Form 5500; Form SSA; and notice to terminated vested employees Annual benefit statements November December 11/14 3rd quarter participant statements 11/15 Summary annual reports 12/1 QDIA notices Safe Harbor notices Automatic enrollment notices 12/14 Summary annual reports 12/31 Corrective distributions and QNECs Safe Harbor, QACA, or EACA elections Required Minimum Distributions Participant notices Discretionary plan amendments Remove Safe Harbor feature

11 Sincerely, Advisor Signature: This material is not a recommendation to buy, sell, hold or roll over any asset, adopt an investment strategy, retain a specific investment manager or use a particular account type. It does not take into account the specific investment objectives, tax and financial condition or particular needs of any specific person. Investors should work with their financial professional to discuss their specific situation. The Nationwide Group Retirement Series includes unregistered group fixed and variable annuities and trust programs. The unregistered group fixed and variable annuities are issued by Nationwide Life Insurance Company. Trust programs and trust services are offered by Nationwide Trust Company, FSB, a division of Nationwide Bank. Nationwide Investment Services Corporation, member FINRA. Nationwide Mutual Insurance Company and Affiliated Companies, Home Office: Columbus, OH Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company Nationwide APPROVED FOR ADVISOR USE WITH PLAN SPONSORS PNW-0603AO.4 (02/17)