1100 Advisors from 50 firm now affiliated
BOSTON (November 4, 2015) — 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.”
A clear, strategic fit
“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.