07.10.19

Cetera Empowers Americans to Live Their Best Retirement

Los Angeles, CA – Cetera, a leading financial advice firm, has collaborated with the Allianz family and Capital Group to introduce SetIncome, a first-of-its-kind solution that enables retirees to generate a reliable source of retirement income to last the rest of their lives. The solution is now being rolled out exclusively to financial advisors affiliated with Cetera. Clients working with a Cetera-affiliated financial advisor can use SetIncome to create a retirement income plan with guaranteed fixed annuity and asset management models, which includes American Funds by Capital Group.

As ten thousand baby boomers retire every day, and the average life expectancy continues to rise, the priorities of seniors will shift from growing assets to a reliable source of retirement income. Yet 70% of Americans feel financially unprepared to live to 100 and beyond, according to the Allianz Longevity Project. This generation must understand what their retirement income needs will be, develop a plan to protect their assets through times of market volatility and other unpredictable events, and continually re-evaluate and adjust their plan as efficiently as possible.

SetIncome is a cutting-edge new solution that offers a unique combination of annuities and traditional asset management strategies from industry leaders in investing, retirement solutions and risk management. Despite the high level of sophistication and complexity behind the tool, financial advisors can now create an optimized income strategy for their clients in just five clicks of a button.

Jacqueline Hunt, Member of the Board of Allianz SE, said, "The launch of SetIncome represents the strength of collaboration not just within the Allianz family – across Allianz Global Investors, Allianz Life, and PIMCO – but also with industry leaders like Cetera and Capital Group. These firms have come together to bring leading asset management and annuities solutions within a powerful technology platform to create better retirement outcomes and fill a critical gap in the marketplace, effectively disrupting the retirement income landscape."

Adam Antoniades, President of Cetera, said, "The boomer generation in the U.S. continues to be largely unprepared for retirement: unrealistic in their expectations, and under-saved; with only 55% having any money saved for retirement at all. Those that feel most prepared have received professional advice and guidance and have included annuities in their overall retirement savings plan*. Cetera's Advice-Centric Experience® framework offers a revolutionary way for individuals to work with financial advisors to plan for retirement: with SetIncome, Cetera-affiliated financial advisors can help their clients seize control of their retirement journey, beyond wealth accumulation and retirement plan participation, to guaranteed income distribution throughout the span of their retirement."

*Insured Retirement Institute, "Boomer Expectations for Retirement, 2019"

About Allianz

Allianz has been providing financial services through its affiliated companies in the United States since 1896. As a leading global financial services company with more than 147,000 employees in 70 countries and over 85 million clients, we offer world class expertise from active asset management to innovative solutions to help grow and protect income in retirement. Allianz Global Investors is a leading active asset manager with over 730 investment professionals in 24 offices worldwide and managing $601 billion in assets for individuals, families and institutions. Allianz Life Insurance Company of North America has been helping Americans achieve their retirement income and protection goals with a variety of annuity and life insurance products since 1896 and provided $2.8 billion in benefit payments just last year. PIMCO is one of the world's premier fixed income investment managers that has been innovating investment solutions since its launch in 1971 and has offices across the globe with 2,500+ professionals.

Allianz Life Insurance Company of North America offers insurance and annuities in all states except New York, where it is not authorized to do so. In New York, products are issued by Allianz Life Insurance Company of New York.

About Capital Group

Since 1931, Capital Group, home of American Funds, has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. As of December 31, 2018, Capital Group manages more than $1.6 trillion in equity and fixed income assets for millions of individual and institutional investors around the world.

The Capital Group companies manage equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

About Cetera Financial Group®

Cetera Financial Group ("Cetera") is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading service provider to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.

*"Cetera Financial Group" refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage. All firms are members FINRA / SIPC.