Adviser Product Partnerships

Pacific Life and Templeton partner on lifetime income solutions; Transamerica, Cetera Financial Group debut group retirement plan solution; and UBS joins with Athletes Soul to support retiring athletes.

Pacific Life, Franklin Templeton Collaborate on Lifetime Income Solutions

Pacific Life Insurance Co. and Franklin Templeton have announced a collaboration on lifetime income solutions.

The firms will provide insurance solutions and personalization for defined contribution plan participants seeking lifetime income.

“Crafting next-generation solutions that meet the unique needs of participants is core to our values and allows us to make meaningful progress toward providing financial well-being to all Americans,” said Yaqub Ahmed, head of U.S. retirement, insurance sub-advisory and 529 college savingsat Franklin Templeton, in a statement.

The collaboration will combine Pacific Life’s expertise in risk management in the lifetime income space with Franklin Templeton’s background in investment management and personalized allocation methodology.

“A one-size-fits-all approach to retirement planning is falling short of the needs of most plan participants,” said Michael Oler, head defined contribution lifetime income at Pacific Life, in a statement. “This collaboration will address the need for personalization and customization in retirement savings and help plan sponsors help their participants achieve better retirement outcomes.”

Transamerica, Cetera Financial Group Debut New Group Retirement Plan Solution

Transamerica Corp. announced a new pooled plan solution in partnership with Cetera Financial Group Inc.

The Cetera Advantage(k) GPS is designed for small and mid-sized businesses, allowing employers to reduce their administrative burden and certain fiduciary risks and to benefit from cost efficiencies.

“Our new solution, in collaboration with Transamerica, aims to reduce the administrative tasks and liability for the business owners so they can focus on what matters most—running their business,” said Adeline Wong, a senior vice president and head of retirement plan programs and strategy at Cetera, in a statement.

Transamerica will serve as the plan’s recordkeeper. Cetera Retirement Plan Specialists, a Cetera-owned third-party administrator, will be the plan’s 402(a) and 3(16) fiduciaries. The specialists will also manage the plan’s day-to-day administrative duties.

“Together with Cetera, we share a vision of making it possible for more companies to offer retirement plans to their employees,” said Phil Eckman, president of workplace solutions at Transamerica, in a statement.

UBS Partners With Athletes Soul, Adds Adviser to Firm’s Certified Athletes and Entertainers Segment

UBS Financial Services Inc. announced a partnership with Athletes Soul Inc., a volunteer-based organization that supports athletes as they transition into athletic retirement.

UBS and Athlete Soul will provide financial education through group events and online programs to help retiring athletes make informed decisions.

“Until now, we have been missing the financial piece of this puzzle, and we are very gratified that UBS sees the value in working with us to provide the wealth management education and advice that will help our athletes make smart financial decisions,” said Myriam Glez, the founder of Athletes Soul and a former Olympian, in a statement.

Additionally, Barry Porter, the managing director for wealth management at UBS, has been named a certified consultant within the UBS Athletes and Entertainers Strategic segment.

“We are proud that Barry has received his AEC designation. The value and insight he’s provided over the years to professional athletes and entertainers, alongside his understanding of the industry, will be extremely beneficial to our clients,” said Justin Frame, UBS managing director and market head for Southern California, in a statement.