As Voya Financial sells off insurance groups, attention turns to its broker-dealer
January 30, 2020 By Bruce Kelly, Investment News Voya Financial Inc. last month said it was selling its individual life insurance business, two years after it said it was selling its annuities businesses. The company has said publicly that it intends to focus on retirement, investment management and employee benefits businesses, and its broker-dealer, Voya Financial Advisors Inc., is tucked under its retirement group. But some in the industry perceive that Voya Financial, with roughly 1,700 advisers, could be the next broker-dealer up for sale, particularly as private equity funds are throwing money at and buying large broker-dealer networks like Advisor Group and Cetera Financial Group. Voya Financial is in the early exploratory stages of a sale of the broker-dealer but has not yet hired an investment bank, said an industry executive familiar with the...