Voya Financial Advisors, Inc

CRD#2882
Investment Advisor Firm

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Overview

Voya Financial Advisors, Inc operates as a financial advisory company located in Windsor, Connecticut. Voya Financial Advisors, Inc handles $2.4 billion in assets under management across 13,909 customer accounts, placing it among the largest investment advisory firms in the United States by assets under management (AUM). It has a large group, including 605 financial advisors. Voya Financial Advisors, Inc is not a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its accounts and those of its customers and instead must go through a broker-dealer company to do so. Securities are defined as tradable fiscal assets such as options, stocks and bonds.

Voya Financial Advisors, Inc administers 128 of the company's client assets in a discretionary manner. Discretionary management means that transaction decisions for the client's account are made by a portfolio manager without needing the client's approval. The firm also manages 13,781 non-discretionary accounts totaling $2.4 billion in AUM. The company's typical account size is $173,339. The typical advisor at Voya Financial Advisors, Inc administers around 23 client accounts, placing it among the more individualized firms in the country.

Voya Financial Advisors, Inc's main office is located at One Orange Way, Windsor, Connecticut 6095. The firm is legally registered to provide services to investors throughout 51 U.S. states and territories.

Assets Under Management

$2.4 billion

Number of Advisors

605

Disclosures

No

Office Location

One Orange Way
Windsor, CT 06095

Voya Financial Advisors, Inc by the Numbers

Total Assets Under Management

$2.4 billion

National Average: $8.6 billion
Total Number of Employees

605

National Average: 64
Total Number of Accounts

13,909

National Average: 375,227
Average Account Size

$173.3 thousand

National Average: $23.0 thousand
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Products and Services

Voya Financial Advisors, Inc provides multiple services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, selection of other advisers and educational seminars. In the prior financial year, it provided 101-250 of its accounts with financial planning services. Voya Financial Advisors, Inc does sell products or offer services apart from investment advice to its customers. Voya Financial Advisors, Inc also has a number of financial industry affiliations, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, accountant or accounting firm, lawyer or law firm, insurance company or agency, real estate broker or dealer and commodity pool advisor.

Core Advisor Services

  • Offered by 31% 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 46% 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 20% 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 6% 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

Financial advisory fees typically vary depending on the type of financial services offered. However, fee types charged by Voya Financial Advisors, Inc may include any blend of the following fee types: asset-based, hourly, fixed or commission-based. Voya Financial Advisors, Inc participates in a wrap fee program, in which the firm offers a bundle of services for a single fee.

Available

  • Offered by 69% 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 21% 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 1% 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 32% 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 26% 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 0% 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 10% 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 does business with a broad range of clients. Voya Financial Advisors, Inc caters to retail investors, high net worth investors, pension plans, charitable organizations and corporations. Out of its 13,909 customers, Voya Financial Advisors, Inc's biggest client type is retail investors, though it also caters to 2,135 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an individual who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is deemed a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's accounts reside abroad.

  • High-Net-Worth Individuals* - 17.08%
  • Other Individuals - 82.65%
  • Corporations - 0.22%
  • Charitable Organizations - 0.04%

* 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

James Bermingham
Federal Way, WA
David Sheppard
Dublin, OH
Michael Sotile
Nashville, TN
Chitman Uppal
Upper Darby, PA
Eric Macway
Windsor, CT
Bethany Coughlin
Windsor, CT
Tanya Campbell
Indianapolis, IN
Christopher Hogan
Dublin, OH
Maureen Weir
Windsor, CT

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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