PIMCO announced on Monday that it launched a distribution platform for financial advisors and individual investors to better serve the retail market.
The investment management firm also said it established a licensed broker-dealer called PIMCO Investments LLC.
"Investors increasingly are looking for smart, relevant and thoughtful advice to help them make portfolio decisions and reach their goals," said Douglas Hodge, chief operating officer of PIMCO, in a statement. "By establishing a fully integrated distribution platform, we intend to provide greater access to PIMCO's global investment solutions, intellectual capital and investment analysis, which are the core of our approach to delivering consistent risk adjusted returns to PIMCO's clients."
PIMCO's Global Wealth Management organization has will now focus more on the retail segment and will enhance its partnership with advisors, said Jon Short, managing director and head of the firm's global wealth management business and chairman of PIMCO Investments.
PIMCO has offices in 10 countries throughout North America, Europe and Asia. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz Group, a global diversified financial services provider.