Voya Financial Advisors, Inc

CRD#2882
Investment Advisor Firm

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Overview

Voya Financial Advisors, Inc operates as an advisory company that has its headquarters in Des Moines, Iowa. It manages $13.5 billion in assets over 74,955 customer accounts, placing it among the largest investment advisory firms in the country by assets under management (AUM). The company has a very large team of 1,696 employees, all of whom are financial advisors. Voya Financial Advisors, Inc is not a registered broker-dealer, signifying that the company cannot buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer firm to do so. Securities are tradable financial assets like equities, bonds and options.

Voya Financial Advisors, Inc oversees 12,700 of its client assets in a discretionary manner. Discretionary management signifies that a portfolio manager makes buy and sell decisions for the client's account without needing client approval. Voya Financial Advisors, Inc also administers 62,255 non-discretionary accounts totaling $10.2 billion in AUM. The investment advisory firm's average account size is $179,468. The typical financial advisor at Voya Financial Advisors, Inc administers about 44 client accounts, placing it towards the middle in terms of personalization.

The company's headquarters is at 699 Walnut Street, Des Moines, Iowa 50309. Voya Financial Advisors, Inc is legally permitted to serve customers across 51 U.S. states and territories.

Assets Under Management

$13.5 billion

Number of Advisors

1,696

Disclosures

No

Office Location

699 Walnut Street
Des Moines, IA 50309

Voya Financial Advisors, Inc by the Numbers

Total Assets Under Management

$13.5 billion

National Average: $3.3 billion
Total Number of Employees

1,696

National Average: 31
Total Number of Accounts

74,955

National Average: 1,935
Average Account Size

$179.5 thousand

National Average: $1.7 million

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Products and Services

Voya Financial Advisors, Inc offers a number of financial services, which can include financial planning services, portfolio management for individuals and small businesses, selection of other advisers and educational seminars. In the last fiscal year, the firm provided financial planning services to 1500 of its accounts. The company does not sell products or offer services apart from investment advisory services to its investment advisory customers. The firm is affiliated with one or more other service providers in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency and commodity pool advisor.

Core Advisor Services

  • Offered by 44% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 61% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 10% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

A financial advisor's fees are based on which services the firm provides the client. However, fees billed by Voya Financial Advisors, Inc most likely include some blend of the following fee structures: asset-based, hourly, fixed or commission-based. Wrap fee programs, or the practice of bundling services for a single fee, are offered by the company.

Available

  • Offered by 72% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 35% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 2% of firms

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Offered by 39% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

Voya Financial Advisors, Inc works with retail investors, high net worth investors, pension plans and corporations. Out of its 74,955 customers, Voya Financial Advisors, Inc's biggest client type is retail investors, though it also serves 24 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 under management or a net worth of more than $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its customers are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 0.03%
  • Other Individuals - 99.75%
  • Corporations - 0.21%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Voya Financial Advisors, Inc does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Voya Financial Advisors, Inc

Michael Schug
Marinette, WI
Elizabeth Beall
Saint Joseph, MI
Joshua Mesenburg
Sandusky, OH
Jason Swedo
Barrington, IL
Brian Wright
Beaverton, OR
Christopher Lowe
Racine, WI
Jason Hewett
Bellevue, WA
John Landry
Glastonbury, CT
Russell Pinto
Scarsdale, NY

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This content was compiled from the SEC and FINRA