Nationwide Acquires Jefferson National

Nationwide has completed its previously announced acquisition of Jefferson National, an industry-leading distributor of tax-advantaged investing solutions for registered investment advisors (RIAs), fee-based advisors and the clients they serve.

Jefferson National is now a wholly-owned subsidiary of Nationwide.  The transaction increases each organization’s ability to serve more partners and members in the ways they prefer to do business.  Jefferson National is transitioning to the Nationwide brand.

“We are all thrilled about joining forces and we welcome Jefferson National associates to the company,” noted Kirt Walker, Nationwide Financial president and chief operating officer. “This partnership allows for growth in ways that our companies couldn’t have achieved individually and complements our strong brokerage distribution channel.”

The current leadership will remain intact and the companies expect no changes to the sales and service experience.

“Our vision of building a distribution company that is singularly focused on the unique needs of RIAs and fee-based advisors has truly changed industry perceptions, created a new category of product, and provides a tremendous engine for growth going forward,” noted Mitchell H. Caplan, Jefferson National chief executive officer.  “Nationwide has emphasized that they love what we do, and they want to learn from us and the way we do business with RIAs and fee-based advisors. Together, we’ll have an opportunity to leverage Nationwide’s financial strength and ratings, and offer a far greater range of value-added products and services along the way.”

The transaction was reviewed by state and federal regulators and required approvals were obtained.

Deloitte Corporate Finance LLC and Eversheds Sutherland (US) LLP served as the financial and legal advisors for Nationwide in connection with the transaction. Raymond James & Associates and Sidley Austin LLP served as the financial and legal advisors for Jefferson National.