A big retail securities broker is stocking its shelves with insurance policies and annuity contracts.
Edward D. Jones & Company L.P., St. Louis, has agreed to serve as a distributor for Pacific Life Insurance Company, Newport Beach, Calif.
Edward Jones financial advisors will have access to the Pacific Select Exec IV1 variable universal life insurance product, the Versa Flex NLG1 universal life insurance product, and a new A-Share variable annuity that may be introduced in January 2010, according to Pacific Life.
Edward Jones has 12,000 financial advisors and 7 million clients.
Phoenix Companies Inc., Hartford, recently announced that its Saybrus Partners Inc. unit would be helping Edward Jones advisors match clients with products from Pacific Life and from John Hancock Life Insurance Company, Boston, a unit of Manulife Financial Corp., Toronto (NYSE:MFC).