Pros

As stated by others, Nationwide Insurance itself is a tremendous company and a good corporate citizen, particularly in respect to its support of the community and various charitable organizations. As a fairly conservative mutual company it's nice to know the parent organization won't be sold out overnight, particularly in the current economic environment. This conservative attitude also shows up in its financial produc ts.

Nationwide Financial has a solid product line-up, that while not cutting edge, is certainly one that a producing agent wouldn't have to apologize for. Also, there is a strong commitment to internal support; the team in Dublin supporting all channels is professional, competent and willing to go the extra mile. The Advanced Sales team is second to none in the industry.

Cons

That said, Nationwide Financial Network, the retail distribution arm of Nationwide Financial, seems to constantly be in search of itself. The Exclusive Agency distribution channel is fairly stable, but continually underperforms, with a long-standing 5% penetration of its P&C households with financials despite constant efforts to improve.

The Provident/Professional Consulting Group was a wreck from day one that only go worse over time, and its ultimate demise in 12/08 was long overdue.

The new Nationwide Securities, LLC broker-deraler seems over-extended and somewhat inept, but mostly unnecessary. In an environment that would easily be serviced by a limited b/d, they expend an inordinate amount of energy and capital toward offering a full-service menu, when 99% of their business is basically "cheeseburgers." No serious General Agent will be content with them long-term, and the PPGA/Personal Producing GA channel's future is at best questionable.

The technology simply stinks. It still takes a small forest of paper products to write a simple variable life app. And heaven forbid you have a switch, replacement or other additional form generator. If Raymond James can write Nationwide paper without touching an application, why can't a Nationwide Agent?

Advice to Senior Management

NFN needs to go back and re-read the basic tenets of "Good to Great" and decide what it is they can be the "best in the world" at, and quit trying to reinvent themselves as Northwest Mutual, ED Jones, Raymond James or New York Life "lite." They are not equipped to be a "career channel" company.