Newport Beach, Calif. (Sept. 13, 2007) – Pacific Life Insurance Company has announced that it reached an agreement wherein the current executive management of United Planners’ Financial Services of America will acquire 100% ownership of the firm’s General Partner (United Planners’ Group, Inc.). United Planners’ Financial Services is a full service broker-dealer serving independent registered investment advisors and securities representatives across the U.S. which offers a number of unique benefits to independent financial professionals, including the advantages of ownership.
Financial details of the transaction were not disclosed. Pacific Life’s initial investment in United Planners’ Group, Inc. occurred in 1987. With this transaction, Pacific Life is continuing its process of moving to a stronger focus on its insurance and annuity businesses.
“The management team at United Planners’ Financial Services has provided effective leadership and has enabled the growth of the organization over these past few years,” said Bill Robinson, chairman and CEO of Pacific Select Distributors, Inc. “We wish them continued success as they move forward under this new ownership structure.”
Tom Oliver, president and CEO of United Planners’ Financial Services, commented “Our firm has always had an excellent working relationship with Pacific Life and we look forward to many positive things for United Planners’ Financial Services in the future. We have attracted exceptional investment professionals and feel we provide a unique platform for experienced independent representatives who desire quality personalized support, opportunity for ownership and a participation in the firm’s profits.”
The completion of the existing management’s purchase benefits Limited and General Partner ownership interests alike, providing United Planners’ Financial Services increased stability and autonomy. It is through its unique structure that United Planners’ Financial Services Limited Partner representatives enjoy the added benefit of sharing in annual profits.
United Planners’ Financial Services is one of the industry’s premier independent broker dealers providing ownership opportunities to securities investment professionals nationwide. Celebrating its 20th Anniversary in 2007, the firm is committed to technology, full service brokerage, registered investment advisors and insurance services. For additional information, visit United Planners’ Financial Services Web site at www.unitedplanners.com.
Founded in 1868, Pacific Life provides insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.1 Pacific Life counts more than half of the 50 largest U.S. companies as clients2 and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities.
1 Product features and availability vary by state.
2 Data compiled by Pacific Life using the FORTUNE 500® list as of April 2007.