[00:00:00] Jim: Customer service within nearly 160 years of strength and stability;

[00:00:07] Dawn: It's that energy of like a startup organization within a 160 year old company.

[00:00:13] Jim: two important business lines under one important leadership team;

[00:00:17] Dawn: It's a magical combination. It's very rewarding.

[00:00:21] Jim: and learning about ways in which we can provide the best in customer service.

[00:00:25] Dawn: I can't stress enough how that empathy plays forward when you're speaking with individuals.

[00:00:32] Jim: All this and more on today's episode of The Wave Strength.

[00:00:40] Voice Over: Welcome to The Wave Strength, innovative solutions for a secure retirement. Presented by Pacific Life.

[00:00:50] Jim: Hello everyone, and welcome to another episode of The Wave Strength podcast. My name's Jim Breen, Head of Marketing with Pacific Life's Institutional Team. Joining us here in the studio today is Dawn Colby, Head of Growth Operations for the Institutional Team at Pacific Life.

So Dawn, I want to thank you for joining us on the podcast. Your first time!

[00:01:10] Dawn: First time.

[00:01:11] Jim: Very exciting, very exciting. You know, Dawn, you've been with Pacific Life now six months. So excited to have you in the studio. We have so much to get to today. So many great stories of how we're supporting our clients and customers and the fantastic role that you have within the Institutional Retirement Solutions Group.

But before we get there, perhaps you can share a little bit about your background for our audience.

[00:01:37] Dawn: Absolutely. Thank you Jim. I'm happy to be here today.

[00:01:40] Jim: Absolutely.

[00:01:41] Dawn: I joined Pacific Life with 30 years of experience in financial services, leading transformational initiatives. I have grown up in operational roles, led account management and relationship management organizations, as well as plan documents, compliance, new business teams.

And I've had the honor to be a part of strategic merger and acquisition teams, as well as lead key re-engineering efforts across organizations, and being a site leader, as well, of an operations service center.

[00:02:11] Jim: Well, Dawn, that's great. Thanks so much for giving an outline of your experience. Perhaps now you can share a little bit about your specific role now at Pacific Life within the Institutional Retirement Solutions Group.

[00:02:23] Dawn: Absolutely, Jim. So, my role actually sits strategically in the organization to manage our high level of care and also partner with sales and service teams to ensure thoughtful and proactive planning of our resources, all the way from the implementation process through the ongoing relationship management of our clients and annuitants.

My biggest priority is to ensure we're mobilized around that planning effort and we're positioned well for growth. And what that means is our processes, our platforms, our operation teams, our service support teams, are all in a position to scale for that growth.

[00:02:58] Jim: That's great, Dawn. And you, know, so much has happened here within our Institutional Team coming up to six years in since we began.

And all of the fantastic growth that has happened within that time, you know, and what Karen Neeley has done to build out the team. So, I'm sure it's an exciting time to be on the team.

[00:03:18] Dawn: It is such an exciting time, and what I would share with you, it's that energy of like a startup organization within a 160 year old company.

[00:03:27] Jim: Mm-hmm.

[00:03:27] Dawn: And that creativity, the innovation, the driving scalable solutions, capitalizing on all of that growth and opportunity at the same time, is really an exciting time for us organizationally.

[00:03:41] Jim: Yeah, I agree. You know, as somebody that has been with the Institutional Team since the early months, it's kind of that lightning in a bottle, you know?

[00:03:52] Dawn: Yeah.

[00:03:52] Jim: The energy that, the excitement, that startup mentality as you mentioned, that existed in those early days, I still see that.

[00:03:59] Dawn: Mm-hmm.

[00:04:00] Jim: Now here, almost six years in, and it is an exciting feeling knowing that we're making a difference. We're doing great things. All within this wonderful company, nearly 160 years of financial strength and stability, that is Pacific Life.

[00:04:15] Dawn: Absolutely, and you know, we're moving our footprint even larger in the marketplace as well. You know, we have the depth of the PRT knowledge and leadership, but also expanding that into the DC side with Lifetime Income solutions. So, it's really a growth time, an exciting time, and it's a wonderful time to be at Pacific Life.

[00:04:36] Jim: Yeah, that's great stuff, Dawn. Building on that foundation is important. You know, obviously Pacific Life has so much to offer, those nearly 160 years that we discussed. Talk maybe a little bit about your perspective. What is your perspective on that foundation, and what is it that you see in the next 160 years?

[00:04:52] Dawn: Yeah, good question. Well, I'd start by just saying, you know, Pacific Life has that rich history and a strong foundation of 160 years. So, everything we respect from that, we're growing upon, and that's a great position to start, right? Being into the business, organizationally, six years in now, as you mentioned, and what drew me to Pacific Life was not only the seasoned leadership team and that passion and energy to grow, but also the manner in which we're approaching growth and developing talent and growing our team members. When you have that combination of leadership engagement and investment and talent and people, and you have that desire to grow the organization the way we have, it's a magical combination.

It's very rewarding, and I'm lucky enough to see it every day in action. So, you know, our teams deliver superior service. They lean in to solve and drive solutions, innovative solutions, and further scale capabilities. That heart of our team members that shows up every day, that care and concern, it's just truly rewarding and an amazing time.

[00:06:06] Jim: Yeah. It's in our DNA, I mean.

[00:06:07] Dawn: Yeah.

[00:06:08] Jim: You mentioned our DB or our Pension Risk Transfer side of the house. Over 80 years in.

[00:06:13] Dawn: Mm-hmm.

[00:06:13] Jim: Right? And a lot of that, you know, really foundational focus on the clients and customers that exists then, it exists now with the teams. And now as we build out and continue to scale this Defined Contribution Lifetime Income side, our DC side of the house, which I know we're gonna get into today, it is a, you know, a banner moment where, 80 years into the future, we look back and go, "Remember 80 years ago, we--" Oh, hopefully I'll be retired. Although I have five kids, so maybe, I might be still be here in 80 years.

[00:06:43] Dawn: Maybe not.

[00:06:43] Jim: I don't dunno.

[00:06:43] Dawn: Maybe not.

[00:06:46] Jim: College is not cheap. But that said, you know, perhaps you can share your opinion, your thoughts, especially as it pertains to the Institutional Retirement Solutions Group or IRSG, maybe how that affects our Defined Benefit and Defined Contribution side of the house.

[00:07:02] Dawn: Sure. So, you know, before we talked about that energy and that innovation in our DNA, right? You know, I think that sets us apart, but also it's, it's that key differentiator with our service, that white glove service, that really focuses on, you know, think of the DB demographic, right? An aging population, a declining social security system, less pension offerings from plans.

You know, our team members know individuals. They know how to deliver that superior white glove service and drive that care and concern, just like they were talking to a parent or a grandparent.

[00:07:41] Jim: Their own loved one.

[00:07:41] Dawn: Their own loved one.

[00:07:42] Jim: Yeah. Yeah.

[00:07:43] Dawn: Yes. You know, I can't stress enough how that empathy plays forward when you're speaking with individuals and recognizing what they're going through or what the situation--

We even have repeat callers, believe it or not, that really like to engage with our call center, you know?

[00:08:00] Jim: Yeah.

Yeah,

like, "How's the family doing?"

[00:08:01] Dawn: Yeah, right? They're just, "Hi Bob!"

[00:08:04] Jim: Yeah.

[00:08:04] Dawn: "We're caller number two." But you know, our call center is just so dynamic. It's really a core part of our business.

It's not a side part of the business. It's integrated, and I don't know if you can say that everywhere. I had the pleasure of listening to some calls just a few weeks ago in our call center. Pulled up a chair and had an opportunity to listen to various calls, and that just makes you so proud, when you hear how we show up in the market, how we drive engagement and understanding of what's going on, that payment that's so important to that individual and--

[00:08:40] Jim: It's such an important and-- It could be a vulnerable time in someone's life.

[00:08:44] Dawn: Mm-hmm.

[00:08:44] Jim: Right? And to be able to provide that, that ear or the empathy is crucial.

[00:08:49] Dawn: It is crucial and, you know, it just makes me smile. It warms my heart to know that's just who we are. That's how we show up. That's our DNA. So all of that comes forward. It's not a get next call mentality or I have to get off the phone in so many minutes or seconds.

It's about the delivery of the experience and ensuring understanding and letting individuals know we're here. Pacific Life is here for you. That makes a difference.

[00:09:17] Jim: Yeah, and Dawn, something else that I'd love to talk about is the unique structure of our Institutional Retirement Solutions Group. You have your Defined Benefit and your Defined Contribution businesses under one roof, under one leadership team,

[00:09:31] Dawn: Right.

[00:09:32] Jim: That's unique in the industry, right?

[00:09:33] Dawn: Mm-hmm.

[00:09:33] Jim: How does that set us up to be more effective in the market?

[00:09:37] Dawn: You know, I think it's really unique, when I think across the landscape that we compete in. What makes it so good is Pacific Life has been in the business of PRT for over 80 years. So think of capitalizing on all that experience and then building that experience out with a DCLI offering, right?

That allows us to springboard that experience forward. And really show up in a market space where we can help consultants and advisors move from just a DB offering to a DB and DC offering. To work with clients and help with that relationship management aspect of delivering solutions in a seamless manner that's very integrated in their retirement plan offering.

[00:10:26] Jim: Mm-hmm.

Mm-hmm. Yeah. So unique, and I know that, you know, when we show up at a lot of these events and trade shows, it is something that we hear. "Oh, that's interesting. I don't often see that you have the DB/DC side under one roof, under one leadership team." And it really provides a heightened synergy amongst those two lines of business.

And it helps us show up and position us in a very competitive and unique way.

[00:10:53] Dawn: It absolutely does. And, you know, I think of all those partnerships we have in the market with those consultants and advisors. Pacific Life is helping. We're there to offer opportunities of solutions, both in the DB and DC arena.

That only strengthens your service offering.

[00:11:11] Jim: Well, yeah, I mean, all those elements that you just mentioned really provide an advantage to Pacific Life and the IRSG team. Really focusing on ways in which we can improve retirement outcomes for the participant. So let's talk closing thoughts as we wrap up here,

Dawn. Maybe you could take us through your vision of what the future holds and where we want to go in the retirement space.

[00:11:36] Dawn: I would say what's exciting is how solutions are coming to market, and Pacific Life's at the forefront of that, when you think of where DCLI is going, providing that lifetime income stream. You have the work we've all done with PRT over the last several, you know, 80 years to provide that retirement paycheck.

Then you move into the DCLI space to create a retirement paycheck, and those retirement income solutions are really that next frontier. And partnering with consultants and advisors because many more plans terminate and freeze, so when you look at the DC offering, how do you institutionalize that paycheck with that savings allocation that people have worked so hard to grow, and Pacific Life is there to help drive that.

In fact, we did submit written testimony to the ERISA Advisory Council, recognizing the important role DCLI plays in the market and with retirement plan offerings. So, very excited about that. Very excited to see what the future holds as we continue to build that offering out and see even more and more increased adoption.

[00:12:53] Jim: Absolutely. You bring up the great work that the teams have done, you know, trying to make an impact on the Hill, working with our government affairs team with Seaver Sowers and Sandy Sussman and some others. But again, such a fantastic team. A strong group of people dedicated to trying to drive that next level or to provide important retirement outcomes for those participants.

So, we talked a little bit about the DC side. Let's talk a little bit about the future of the PRT side of the house.

[00:13:24] Dawn: Sure. So, I would think of the PRT side of the house, especially when it comes to consultants and advisors, because we're able to help them uniquely position their offering to advance that PRT

practice that they have into both DB and DC. So, maybe those that have concentrated on working with us to take on that transferring of the pension risk can now open their doors in their mind to the DC side of the house, balancing both of those out, really uniquely positioning themselves. And Pacific Life's there to help.

So, between the DC and the DB offering, you're really broadening your spectrum of services being provided. And earlier you talked about having all that under one roof and one leadership team. We're constantly thinking DB/DC. It isn't in pockets. It's at the table, at the same time. That uniquely positions us in everything we do, from our core strategy to the delivery of our products and services, to how we show up in the marketplace.

[00:14:32] Jim: Fantastic. What a great explanation. And really appreciate you laying out these important elements of the Institutional Retirement Solutions Group. And Dawn, thank you for sitting with us. I know you're busy. You flew out, and I'm sure you have a plane to catch. So really appreciate you sitting with us, and we'd love to have you back.

[00:14:51] Dawn: Thank you, Jim. I appreciate the time.

[00:14:52] Jim: Absolutely.

[00:14:52] Dawn: Your team is fantastic. Thank you everyone.

[00:14:55] Jim: Thank you.

And yes, to our wonderful production team, behind the equipment, behind the cameras, we want to thank you for your dedication. And, to our audience, I want to thank you for joining us on another episode of The Wave Strength.

Head over to YouTube, Spotify, and Audible, and don't forget to hit like and subscribe so that you can stay current with new content as it becomes available. We'll see you next time everyone.

[00:15:21] Voice Over: This has been another episode of The Wave Strength, presented by Pacific Life. Don't forget to catch us on YouTube and make sure to subscribe. Although this podcast is presented by Pacific Life, the opinions and views expressed are those of the hosts and participants and do not necessarily reflect Pacific Life's views on any of the topics discussed. Unless otherwise noted,

Pacific Life is unaffiliated with any other individual or company mentioned. Pacific Life is a product provider. It is not a fiduciary, and therefore does not give advice or make recommendations regarding insurance or investment products. Pacific Life, its affiliates, its distributors, and respective representatives,

do not provide any employer-sponsored qualified plan, administrative services, or impartial advice about investments, and do not act in a fiduciary capacity for any plan. Pacific Life refers to Pacific Life Insurance Company and its subsidiary, Pacific Life and Annuity Company. Insurance products can be issued in all states except New York by Pacific Life Insurance Company and in all states by Pacific Life and Annuity Company.

Product availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products at issues. This podcast was recorded on July 9th, 2025.

[00:16:45] Jim: Thanks for joining us on today's show. We'd love to hear from you. Join the conversation below, and leave a comment on your thoughts on what the industry can do better for participants as it pertains to Lifetime Income Solutions. And if you'd like more interesting content, click one of these links over here.