John Hancock to Acquire Independent Broker-Dealer from Symetra Financial
Symetra Investment Services to Become Affiliated with John Hancock Financial
Network as a Sister Broker-Dealer to Signator Investors, Inc.
BOSTON, June 11, 2013 /CNW/ - John Hancock, a unit of Manulife Financial
Corporation (MFC), today announced it has agreed to acquire Bellevue,
Wash.-based Symetra Investment Services (SIS) from Symetra Financial
Corporation (SYA). It is anticipated that the transaction will close in three
to six months, subject to regulatory approvals. Terms were not disclosed.
Symetra Investment Services, Inc., a dual registered broker-dealer/investment
advisor firm with approximately 280 registered representatives, would become
affiliated with John Hancock Financial Network (JHFN). JHFN currently has
1,600 registered representatives through its current dual registered
broker-dealer/investment advisor, Signator Investors, Inc.
"Powerful distribution has long been a competitive differentiator for John
Hancock," said Craig Bromley, president of John Hancock. "JHFN is an important
part of that equation, and I am confident that this acquisition will help
drive continued success."
"Given Symetra's current product lineup, SIS is no longer a good strategic fit
for us as a distribution channel," said Tom Marra, president and CEO of
Symetra Financial Corporation. "John Hancock Financial Network will offer many
advantages to SIS advisors, allowing them to thrive with greater scale and
resources for clients as well as business development support."
Brian Heapps, president of JHFN, said, "We couldn't be more pleased to welcome
the advisors from Symetra Investment Services into our independent network of
firms. Strategically, they offer us a breadth of wealth experience and a
geographic presence that complements our existing footprint as we continue to
JHFN offers financial professionals a wealth of resources and support for
business and professional development. To help advisors best meet their
clients' needs, JHFN provides an open product platform including a
comprehensive range of top-quality investment advisory and protection products
from leading carriers.
Advisors affiliated with JHFN 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. JHFN advisors are able to brand with a unique name or as a
member of John Hancock Financial Network but remain backed by the financial
strength and stability of John Hancock, a highly rated financial services
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$555 billion
(US$547 billion) as at March 31, 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,
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 and Signator Investors, Inc. John Hancock
Financial Network is a national network of independent firms with
approximately 1,600 financial professionals across the U.S, working through
its dual registered broker dealer/investment advisor, Signator Investors, Inc.
A leader in the financial services industry having the stability and scale to
offer an innovative business model, John Hancock Financial Network gives
entrepreneurial financial professionals the power to effectively build unique
businesses, based on their own vision and market opportunity. For more
information on John Hancock Financial Network and its national network of
independent firms, visit https://www.johnhancockfinancialnetwork.com.
About Symetra 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. 5145-20130226-134194
Melissa Berczuk, Phone: (617) 663-4750, E-mail: email@example.com
SOURCE: John Hancock Financial
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CO: John Hancock Financial
NI: FIN INS MNA
-0- Jun/11/2013 18:01 GMT
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