Canadian insurer Manulife Financial Corp, through its U.S. business division John Hancock Financial, has closed its previously announced acquisition of Bellevue, Wash.-based Symetra Investment Services (SIS) for an undisclosed amount. The broker-dealer/investment advisory company was sold by Symetra Financial Corp, a portfolio company of Canadian private equity firm CAI Private Equity. SIS will now form part of John Hancock Financial Network.
John Hancock Completes Acquisition of Symetra Investment Services
John Hancock Financial Network adds second broker-dealer to its national network
BOSTON, Oct. 1, 2013 /PRNewswire/ — John Hancock, a unit of Manulife Financial Corporation (MFC), today announced the completion of its acquisition of Bellevue, Wash.-based Symetra Investment Services, Inc. from Symetra Financial Corporation (SYA). Terms were not disclosed.
Symetra Investment Services (SIS), a dual registered broker-dealer/registered investment adviser, is now part of John Hancock Financial Network (JHFN), as a sister broker-dealer to Signator Investors, Inc. The group, which includes approximately 250 registered representatives at close, will use the name Signator Financial Services, Inc.
Brian Heapps, President of JHFN, said, “The acquisition went very smoothly and furthers our growth strategy. With this transaction closing, we are pleased to be adding a significant number of financial professionals to our national network.” JHFN Vice President of Field Services Matt Rigatti added, “We are looking forward to providing Signator Financial Services the resources and support our national network offers advisors to help them provide the best service to their clients.”
About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$567 billion (US$539 billion) as at June 30, 2013. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial 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, fixed products, mutual funds, 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 John Hancock Financial Network, Signator Investors, Inc. and Signator Financial Services, Inc.
John Hancock Financial Network (JHFN) is a national network of independent firms with approximately 1,850 financial professionals across the U.S. A leader in the financial services industry having the stability and scale to offer an innovative business model, JHFN gives entrepreneurial financial professionals the power to effectively build unique businesses, based on their own vision and market opportunity.
Signator Investors, Inc., and Signator Financial Services, Inc. are the dual registered broker-dealer/registered investment advisers of John Hancock Financial Network, and offer financial professionals a wealth of resources and support for business and professional development.
To help advisors best meet their clients’ needs, Signator Investors, Inc. and Signator Financial Services, Inc. provide an open product platform including a comprehensive range of investment, advisory, and protection products from leading carriers. Advisors affiliated with the Signator broker-dealer/registered investment advisers have access to support for financial planning; an integrated technology platform; defined contribution resources; a dedicated practice management team; a marketing portal 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.
Symetra Financial Corporation (NYSE: SYA) is a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
Securities and investment advisory services offered through Signator Investors, Inc., member FINRA/SIPC, a registered investment advisor. 197 Clarendon St., Boston, MA 02116.
SOURCE John Hancock Financial Network
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