BOSTON, May 16, 2016 /PRNewswire/ -- John Hancock Financial Network, Inc.(JHFN), a distribution channel of John Hancock, today announced the completion of its acquisition of certain assets of St. Petersburg, FL-based Transamerica Financial Advisors, Inc. (TFA), a Transamerica company. Terms were not disclosed.
At close, the transaction grew assets under administration in JHFN's broker-dealer, Signator Investors, Inc., to nearly $50 billion. In addition, more than 800 TFA advisors in 40 firms joined Signator's national network of independent firms, and more than 80 TFA employees in St. Petersburg joined Signator, moving to a nearby office to continue supporting advisors.
Brian Heapps, president of JHFN, said, "We are pleased to be closing on this transaction and welcome our new advisors and employees. Signator is now among the country's largest independent broker-dealers, and has roughly 300 people in five locations dedicated to supporting our national network of advisors. We are committed to helping our advisors navigate the complex regulatory environment, and to providing them with the resources they need to best serve their clients' financial needs."
Signator has completed a multi-year transition to become a premier independent broker dealer offering financial professionals a wealth of resources and support for business and professional development. To help advisors best meet their clients' needs, Signator provides an open product platform, including a comprehensive range of top-quality investment advisory and protection products from leading carriers.
Advisors affiliated with Signator have access to financial planning support; a robust managed account platform; an integrated technology platform; fiduciary support for qualified plans which includes the development of comprehensive training and integrated technology for the upcoming Department of Labor Fiduciary Rule; a dedicated practice management team; a marketing portal and social media platform providing turn-key programs with compliance-ready, customizable templates; an annual practice advancement conference; regulatory compliance support and an industry-leading equity and succession program.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management and administration by Manulife and its subsidiaries were $904 billion (US $697 billion) as at March 31, 2016. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com. The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com
About Signator Investors, Inc. and John Hancock Financial Network
Signator Investors, Inc. is the dual-registered broker dealer/investment advisor of John Hancock Financial Network and has a national network of independent firms and more than 2,000 financial professionals across the U.S. A leader in the financial services industry having the stability and scale to offer an innovative business model, Signator gives entrepreneurial financial professionals the power to effectively build unique businesses, based on their own vision and market opportunity. For more information on Signator Investors, Inc. and its national network of independent firms, visit http://www.signatorinvestors.com/
With a history that dates back more than 100 years, the Transamerica companies are recognized as leading providers of life insurance, savings and retirement and investment solutions, serving millions of customers throughout the United States.
Transamerica works to Transform Tomorrow® for those who entrust its dedicated professionals with their financial needs, helping them take the necessary steps to achieve their long-term goals and aspirations. Transamerica's 10,000 employees serve nearly every customer segment, providing a broad range of quality life insurance and savings products, individual and group pension plans, as well as asset management services. In 2015, Transamerica fulfilled its promises to customers, paying over $6.9 billion in benefit claims, including return of premiums paid.
Transamerica's corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa. Transamerica is part of the Aegon group of companies. Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in over 20 markets worldwide with some 31,500 employees. For the full year of 2015, Aegon managed $768 billion in revenue generating investments. For more information, please visit www.transamerica.com
Securities and investment advisory services offered through Signator Investors, Inc., member FINRA/SIPC, a registered investment adviser. 197 Clarendon St., Boston, MA 02116. 5145-20130226-134194
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SOURCE John Hancock Financial