BOSTON, Nov. 3, 2015 /PRNewswire/ -- John Hancock Financial Network, Inc.(JHFN), a distribution channel of John Hancock, today announced that it has agreed to acquire certain assets of St. Petersburg, FL-based Transamerica Financial Advisors, Inc. (TFA), a Transamerica company. Upon closing of the transaction, up to 1,100 advisors from TFA working in roughly 50 firms across the country will become affiliated with Signator Investors, Inc., the broker dealer of John Hancock Financial Network, along with about 90 employees who support TFA. It is anticipated that the transaction will close within six months, subject to regulatory approvals. Terms were not disclosed.
"This acquisition is another example of John Hancock's commitment to growing core businesses," said Craig Bromley, President of John Hancock. "This transaction will contribute to the company's continued success by enhancing Signator's presence among the country's top broker dealers. It will also provide opportunities for Signator to broaden distribution and recruiting through advisors who join Signator from Transamerica Financial Advisors and who have established bank channel relationships. Not only does the transaction further Signator's growth strategy, it supports John Hancock's overall effort to help more Americans achieve their financial goals."
"This transaction represents a clear strategic fit for both Transamerica and Signator, allowing us to focus on and invest in our core distribution while enabling Signator to strengthen its independent broker dealer channel," said Seth Miller, CEO of Transamerica Financial Advisors. "With the quality products, tools and resources that Signator provides, we have full confidence that the TFA advisors will have what they need to further grow their practices while serving the broad needs of their customers."
Brian Heapps, President of JHFN, said, "We are very excited to welcome the advisors from Transamerica Financial Advisors into our network of independent firms and provide them access to all the technology, practice management, and sales resources at Signator. Integrating products, best practices, and resources from both networks creates a unique strategic opportunity to provide a dynamic platform that will support the advisors' practices, help them grow their firms, and provide the highest level of service to their clients."
"This transaction will help Signator continue its growth as a leading independent broker dealer, expand our geographic footprint and provide a comprehensive range of investment, advisory, and insurance solutions to deliver even greater value to more customers," added Heapps.
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; defined contribution resources; 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; a top producer program 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 C$883 billion (US$708 billion) as at June 30, 2015. 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 approximately 1,500 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 over 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 corporate headquarters are 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 25 markets worldwide with some 28,000 employees. For the full year of 2014, Aegon managed $675 billion in revenue generating investments.
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
SOURCE John Hancock