Exhibit 21

NATIONWIDE FINANCIAL SERVICES, INC. AND SUBSIDIARIES

Subsidiaries of the Registrant

As of December 31, 2006

The following
list includes subsidiaries of Nationwide Financial Services, Inc. Subsidiaries of subsidiaries are indicated by indentations. All subsidiaries are wholly-owned unless otherwise indicated.



|                                                                   |  |                                       
|------------------------------------------------------------------ |  | --------------------------------------
|Subsidiary                                                         |  | State of Incorporation or Organization
|Nationwide Life Insurance Company                                  |  | Ohio                                  
|Nationwide Life and Annuity Insurance Company                      |  | Ohio                                  
|Nationwide Investment Services Corporation                         |  | Oklahoma                              
|Nationwide Financial Assignment Company                            |  | Ohio                                  
|Nationwide Investment Advisors LLC                                 |  | Ohio                                  
|Nationwide Community Development Corporation, LLC (67% owned)      |  | Ohio                                  
|Nationwide Properties, Ltd. (97.6% owned)                          |  | Ohio                                  
|Nationwide Affordable Housing, LLC (45% owned)                     |  | Ohio                                  
|Life REO Holdings LLC                                              |  | Ohio                                  
|Gardiner Point Hospitality LLC                                     |  | Ohio                                  
|Nationwide Life Insurance Company of America                       |  | Pennsylvania                          
|Nationwide Life and Annuity Company of America                     |  | Delaware                              
|Nationwide Life Insurance Company of Delaware                      |  | Delaware                              
|Nationwide Provident Holding Company                               |  | Pennsylvania                          
|1717 Capital Management Company                                    |  | Pennsylvania                          
|Washington Square Administrative Services, Inc.                    |  | Pennsylvania                          
|Provestco, Inc.                                                    |  | Delaware                              
|RCMD Financial Services, Inc.                                      |  | Delaware                              
|1717 Advisory Services, Inc.                                       |  | Pennsylvania                          
|1717 Brokerage Services, Inc.                                      |  | Pennsylvania                          
|1717 Insurance Agency of Massachusetts, Inc.                       |  | Massachusetts                         
|Nationwide Financial Services Capital Trust                        |  | Delaware                              
|Nationwide Bank                                                    |  | Federal Incorporation                 
|Nationwide Financial Structured Products, LLC                      |  | Ohio                                  
|TBG Insurance Services Corporation d/b/a TBG Financial (69% owned) |  | Delaware                              
|TBG Advisory Services Corporation                                  |  | California                            
|TBG Aviation, LLC                                                  |  | California                            
|TBG Danco Insurance Services Corporation                           |  | California                            
|TBG Financial & Insurance Services Corporation                     |  | California                            
|TBG Financial and Insurance Services Corporation of Hawaii         |  | Hawaii                                
|Mullin TBG Insurance Agency Services, LLC (50% owned)              |  | Delaware                              
|NF Reinsurance Ltd.                                                |  | Bermuda                               



---

|                                                                                      |  |                                       
|------------------------------------------------------------------------------------- |  | --------------------------------------
|Subsidiary                                                                            |  | State of Incorporation or Organization
|NFS Distributors, Inc.                                                                |  | Delaware                              
|Nationwide Retirement Solutions, Inc.                                                 |  | Delaware                              
|Nationwide Retirement Solutions, Inc. of Arizona                                      |  | Arizona                               
|Nationwide Retirement Solutions Insurance Agency, Inc.                                |  | Massachusetts                         
|Nationwide Retirement Solutions, Inc. of Ohio                                         |  | Ohio                                  
|Nationwide Retirement Solutions, Inc. of Texas                                        |  | Texas                                 
|Nationwide Financial Institution Distributors Agency, Inc.                            |  | Delaware                              
|Nationwide Financial Institution Distributors Insurance Agency, Inc. of Massachusetts |  | Massachusetts                         
|Nationwide Financial Institution Distributors Insurance Agency, Inc. of New Mexico    |  | New Mexico                            
|The 401(k) Companies, Inc.                                                            |  | Texas                                 
|401(k) Investment Services, Inc.                                                      |  | Texas                                 
|401(k) Investment Advisors, Inc.                                                      |  | Texas                                 
|The 401(k) Company                                                                    |  | Texas                                 
|Pension Associates, Inc.                                                              |  | Wisconsin                             
|Registered Investment Advisors Services, Inc. d/b/a RIA Services, Inc.                |  | Texas                                 

All business operations of Nationwide Financial Services, Inc. and all of its subsidiaries are
conducted using each companys legally registered name, except for TBG Insurance Services Corporation d/b/a TBG Financial and Registered Investment Advisors, Inc. d/b/a RIA Services, Inc.