PIMCO and Aria Retirement Solutions announced a new “collaboration” on Tuesday, one in which the bond behemoth will offer Aria’s “GMWB without the annuity” product to its shareholders through the RIA channel.
“PIMCO has the same vision of retirement as us, and is therefore the kind of fund family we want to work with,” Aria CEO David Stone told AdvisorOne. “You have a guaranteed income solution underwritten by Transamerica Capital that is then paired with a top fund family.”
Stone added that other fund family collaborations will be forthcoming.
“The product is unique in the marketplace,” Stone said. “It can be added onto the shareholder’s PIMCO funds, and we’re also developing model portfolios.”
“PIMCO is focused on using its global macroeconomic insights to find the best investment and income opportunities for investors, while also managing downside risk,” Tom Streiff, executive vice president and retirement solutions manager at PIMCO, added in a statement.