UNITED STATES

SECURITIES AND EXCHANGE COMMISSION



Washington, D.C. 20549



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FORM 10-K/A

Amendment No. 1



[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2002



OR



[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to



Commission File No. 1-12785



NATIONWIDE FINANCIAL SERVICES, INC.

(Exact name of registrant as specified in its charter)



|DELAWARE                                                       |  | 31-1486870                                          
|-------------------------------------------------------------- |  | ----------------------------------------------------
|(State or other jurisdiction of incorporation or organization) |  | (I.R.S. Employer Identification No.)                
|                                                              
|One Nationwide Plaza, Columbus, Ohio 43215                     |  | (614) 249-7111                                      
|(Address of principal executive offices)                       |  | (Registrants telephone number, including area code)



Securities
registered pursuant to Section 12(b) of the Act:



|Class A Common Stock(par value $0.01 per share) |  | New York Stock Exchange                    
|----------------------------------------------- |  | -------------------------------------------
|(Title of Class)                                |  | (Name of each exchange on which registered)



Securities
registered pursuant to Section 12(g) of the Act:



NONE



Indicate by check mark whether the registrant (1) has
filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (for such shorter period that the registrant was required to file such reports) and (2) has been subject to the
filing requirements for at least the past 90 days.



YesX     No



Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive
proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.    [X]



Indicate by check mark whether the registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2).



YesX     No



The aggregate market value of voting stock held by
non-affiliates on June 28, 2002 was $958,123,890.



The
number of shares outstanding of each of the registrants classes of common stock on March 10, 2003 was as follows:



|Class A Common Stock(par value $0.01 per share) |  | 65,352,248 shares issued and 56,128,539 shares outstanding
|----------------------------------------------- |  | ----------------------------------------------------------
|Class B Common Stock(par value $0.01 per share) |  | 95,633,767 shares issued and outstanding                  
|(Title of
Class)                                |  |                                                           



Documents
Incorporated by Reference



Part III of this Form 10-K
incorporates by reference certain information from the registrants

definitive Proxy Statement for the 2003 Annual
Shareholders Meeting.





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Explanatory Note



This Annual Report on Form 10-K/A constitutes Amendment No. 1 to the Nationwide Financial Services, Inc. Form 10-K for the fiscal year ended December 31, 2002. This
Amendment No. 1 is being filed solely to correct a typographical error contained in Part II, Item 6Selected Consolidated Financial Data with respect to the line items Net Income per Common ShareBasic and Net
Income per Common ShareDiluted for the year ended December 31, 2002. All other items in the Nationwide Financial Services, Inc. Annual Report on Form 10-K, including without limitation the basic and diluted net income per common share
contained in the Registrants audited consolidated financial statements included in the Form 10-K, remain unchanged from the original filing.



We have included Part II, Item 6Selected Consolidated Financial Data, as amended, in this Form 10-K/A in its entirety.



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PART II



ITEM 6SELECTED CONSOLIDATED FINANCIAL DATA



FIVE-YEAR SUMMARY

|                                                                                                                        
|------------------------------------------------------------------------------------------------------------------------
|                                                                                                                        
|                                                                                                                        
|(in millions, except per share amounts)                                                                                 
|                                                                                                                        
|Results of operations:                                                                                                  
|Revenues                                                                                                                
|Policy charges                                                                                                          
|Life insurance premiums                                                                                                 
|Net investment income                                                                                                   
|Net realized (losses) gains on investments, hedging instruments and hedged items:                                       
|Unrelated parties                                                                                                       
|Related parties                                                                                                         
|Other                                                                                                                   
|                                                                                                                        
|Total revenues                                                                                                          
|                                                                                                                        
|Benefits and expenses                                                                                                   
|Interest credited and other benefits                                                                                    
|Interest expense on debt and trust securities                                                                           
|Other operating expenses                                                                                                
|                                                                                                                        
|Total benefits and expenses                                                                                             
|                                                                                                                        
|Income from continuing operations before federal income taxes and cumulative effect of adoption of
accounting principles
|Federal income taxes                                                                                                    
|                                                                                                                        
|Income from continuing operations before cumulative effect of adoption of accounting
principles                         
|Discontinued operations, net of tax                                                                                     
|Cumulative effect of adoption of accounting principles, net of tax                                                      
|                                                                                                                        
|Net income                                                                                                              
|                                                                                                                        
|Net income per common share                                                                                             
|Basic                                                                                                                   
|Diluted                                                                                                                 
|Cash dividends declared per common share                                                                                
|                                                                                                                        
|Weighted average common shares outstanding                                                                              
|Basic                                                                                                                   
|Diluted                                                                                                                 
|                                                                                                                        
|OTHER DATA                                                                                                              
|Reconciliation of net income to net operating income2:                                                                  
|Net income                                                                                                              
|Realized losses (gains) on investments, hedging instruments and hedged items, excluding
securitizations, net of tax     
|Discontinued operations, net of tax                                                                                     
|Cumulative effect of adoption of accounting principles, net of tax                                                      
|                                                                                                                        
|Net operating income                                                                                                    
|                                                                                                                        
|Net operating return on average equity1                                                                                 
|                                                                                                                        

|1Based on net operating income and excluding accumulated other comprehensive
income. 2See Other Data included in Part II, Item
7Managements Discussion and Analysis of Financial Condition and Results of Operations for additional disclosure on net operating income.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



2



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FIVE YEAR SUMMARY, CONTINUED

|                                                                                          
|------------------------------------------------------------------------------------------
|                                                                                          
|                                                                                          
|(in millions, except per share amounts)                                                   
|                                                                                          
|Summary of financial position:                                                            
|Total invested assets                                                                     
|Deferred policy acquisition costs                                                         
|Other assets                                                                              
|Separate account assets                                                                   
|                                                                                          
|Total assets                                                                              
|                                                                                          
|Policy reserves                                                                           
|Other liabilities                                                                         
|Short-term debt                                                                           
|Long-term debt                                                                            
|Separate account liabilities                                                              
|                                                                                          
|Total liabilities                                                                         
|                                                                                          
|NFS-obligated mandatorily redeemable capital and preferred securities of subsidiary
trusts
|Shareholders equity                                                                      
|                                                                                          
|Total liabilities and shareholders equity                                                
|                                                                                          
|Book value per common share                                                               
|                                                                                          
|Customer funds managed and administered:                                                  
|Individual annuity                                                                        
|Institutional products                                                                    
|Life insurance                                                                            
|                                                                                          
|Total                                                                                     
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|(in millions)                                                                             
|                                                                                          
|Pre-tax operating income by business segment1:                                            
|Individual annuity                                                                        
|Institutional products                                                                    
|Life insurance                                                                            
|Corporate                                                                                 
|                                                                                          
|Total                                                                                     
|                                                                                          
|Sales by business segment2:                                                               
|Individual annuity                                                                        
|Institutional products                                                                    
|Life insurance                                                                            
|                                                                                          
|Total                                                                                     
|                                                                                          

|1See Other Data included in Part II, Item 7Managements
Discussion and Analysis of Financial Condition and Results of Operations for additional disclosure on pre-tax operating income. 2See Sales Information included in Part II, Item 7Managements Discussion and Analysis of Financial Condition and Results of Operations for additional disclosure on sales.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



3



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SIGNATURES



Pursuant to the
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



NATIONWIDE FINANCIAL SERVICES, INC. (Registrant)By

LOGOW.G. Jurgensen, Chief Executive Officer and Chairman of the Board




Date: April 10, 2003







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CERTIFICATIONS



I, W.G. Jurgensen, Chief
Executive Officer of Nationwide Financial Services, Inc., certify that:

|1. |  | I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K/A of Nationwide Financial Services, Inc.;
|-- |  | ----------------------------------------------------------------------------------------------------------------

|2. |  | Based on my knowledge, this Amendment No. 1 to the Annual Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Amendment No. 1 to the Annual Report;
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. |  | Based on my knowledge, the financial statements, and other financial information included in this Amendment No. 1 to the Annual Report fairly present in all material respects
the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Amendment No. 1 to the Annual Report;
|-- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. |  | The registrants other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-14 and 15d-14) for the registrant and we have:
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | a) |  | designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us
by others within those entities, particularly during the period in which the Annual Report on Form 10-K (the Annual Report) was prepared;
| | -- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | b) |  | evaluated the effectiveness of the registrants disclosure controls and procedures as of a date within 90 days prior to the filing date of the Annual Report (the
Evaluation Date); and
| | -- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | c) |  | presented in the Annual Report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
| | -- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. |  | The registrants other certifying officers and I have disclosed, based on our most recent evaluation, to the registrants auditors and the audit committee of
registrants board of directors (or persons performing the equivalent function):
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | a) |  | all significant deficiencies in the design or operation of internal controls which could adversely affect the registrants ability to record, process, summarize and
report financial data and have identified for the registrants auditors any material weaknesses in internal controls; and
| | -- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | b) |  | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal controls; and
| | -- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------

|6. |  | The registrants other certifying officers and I have indicated in the Annual Report whether or not there were significant changes in internal controls or in other
factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Date: April 10, 2003



|                                                   
|---------------------------------------------------
|LOGO                                               
|                                                   
|Name: W.G. Jurgensen Title: Chief Executive Officer



5



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I, Mark R. Thresher, Chief Financial Officer of Nationwide Financial Services, Inc., certify that:

|1. |  | I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K/A of Nationwide Financial Services, Inc.;
|-- |  | ----------------------------------------------------------------------------------------------------------------

|2. |  | Based on my knowledge, this Amendment No. 1 to the Annual Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Amendment No. 1 to the Annual Report;
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. |  | Based on my knowledge, the financial statements, and other financial information included in this Amendment No. 1 to the Annual Report fairly present in all material respects
the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Amendment No. 1 to the Annual Report;
|-- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. |  | The registrants other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules
13a-14 and 15d-14) for the registrant and we have:
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | a) |  | designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us
by others within those entities, particularly during the period in which the Annual Report on Form 10-K (the Annual Report) was prepared;
| | -- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | b) |  | evaluated the effectiveness of the registrants disclosure controls and procedures as of a date within 90 days prior to the filing date of the Annual Report (the
Evaluation Date); and
| | -- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | c) |  | presented in the Annual Report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
| | -- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. |  | The registrants other certifying officers and I have disclosed, based on our most recent evaluation, to the registrants auditors and the audit committee of
registrants board of directors (or persons performing the equivalent function):
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | a) |  | all significant deficiencies in the design or operation of internal controls which could adversely affect the registrants ability to record, process, summarize and
report financial data and have identified for the registrants auditors any material weaknesses in internal controls; and
| | -- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | b) |  | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal controls; and
| | -- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------

|6. |  | The registrants other certifying officers and I have indicated in the Annual Report whether or not there were significant changes in internal controls or in other
factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Date: April 10, 2003



|                                                     
|-----------------------------------------------------
|LOGO                                                 
|                                                     
|Name: Mark R. Thresher Title: Chief Financial Officer



6