Pacific Life parts ways with last B-D

Pacific Life Insurance Co. of Newport Beach, Calif., has cut ties with its last independent-contractor broker-dealer, United Planners’ Financial Services of America of Scottsdale, Ariz.
Management with United Planners will acquire 100% ownership of the firm’s general partner, United Planners’ Group Inc.
Terms of the deal, which was announced this morning, were not disclosed.
Earlier this year, Pacific Life sold its three other independent broker-dealers to LPL Financial Services of San Diego and Boston.
Pacific Life made its initial investment in United Planners’ in 1987.
The firm has 334 affiliated reps, according to this year’s InvestmentNews survey of independent broker-dealers.