Office address: 200 Park Avenue, New York, NY 10166
Website: voya.com
Year established: 2013
Company type: financial services
Employees: 10,000+
Expertise: retirement plans, investment management, employee benefits, supplemental health insurance, workplace solutions, digital financial guidance, asset management, stop loss insurance, life insurance, disability insurance
Parent company: N/A
Key people: Heather Lavallee (CEO), Jay Kaduson (CEO, Workplace Solutions), Michael Katz (CFO), Santhosh Keshavan (chief technology and operations officer), Trevor Ogle (chief legal officer), Brannigan Thompson (CHRO), Matt Toms (CEO, Voya Investment Management)
Financing status: corporation
Voya Financial is a financial services company with headquarters in New York, serving about 15 million clients nationwide. It provides retirement plans, investment management, and employee benefits, with more than $1 trillion in assets under management and administration as of 2025. Voya is recognized for its workplace solutions, digital tools, and a strong focus on ethical business practices.
Voya Financial’s story in the US began in the mid-1970s, when Nationale-Nederlanden entered the market by acquiring Wisconsin National Life Insurance Company. Growth continued with major acquisitions like ReliaStar, Aetna Financial Services, and CitiStreet. In 2013, ING US became Voya Financial, Inc. and started trading on the NYSE.
The firm expanded its reach by adding businesses that strengthened its retirement, investment, and benefits offerings. The company acquired Pen-Cal Administrators in 2018 and Benefit Strategies in 2021, which boosted its compensation and health account services. In 2023, Voya Financial bought Benefitfocus, a technology company, which helped the firm serve about 38 million workplace benefits and savings clients.
Voya also invested in technology and global operations to better serve clients. In 2019, it formed a joint venture in India, then took full ownership in 2023, creating Voya India to support round-the-clock operations and faster service. In 2024, Voya partnered with Orion to launch a platform that offers advisors integrated digital tools for client management and financial planning.
In 2025, the firm made a major move by acquiring OneAmerica’s full-service retirement plan business. This deal brought Voya’s Wealth Solutions to nearly 60,000 retirement plans and about 8 million participants, with defined contribution assets reaching $670 billion.
Voya Financial offers a broad range of investment and retirement products. Its solutions focus on both traditional and specialized investment strategies:
Voya Financial is also recognized for its strong digital platforms and award-winning workplace culture. Clients benefit from a dedicated service team and a wide range of investment expertise.
According to Voya Financial, the company’s culture centers on customer focus, integrity, agility, and accountability. The firm states it is purpose driven and highlights inclusivity and strong operating discipline as key traits. Voya lists the following as its company values:
The firm reports a focus on understanding and supporting employees through benefits, resources, and a flexible approach. Below are Voya Financial’s employee benefits:
Voya Cares® also offers resources and planning help for people with disabilities, their families, and caregivers. The program focuses on education and solutions to support the special needs community in reaching better retirement outcomes.
Heather Lavallee is CEO and board member of Voya Financial. Before this, Lavallee was president and CEO-elect. She also led Voya’s Workplace Solutions, Investment Management, and technology teams.
Lavallee previously worked at Mutual of Omaha and Sun Life and holds degrees from Colby College and Pepperdine University.
The executive committee leads Voya Financial and brings deep experience to each area of the business:
This group's leadership shapes the company’s direction and supports its goals.
In 2024, Voya Financial announced plans to acquire OneAmerica’s $60 billion retirement plan business. By early 2025, it completed the deal, boosting its Wealth Solutions to about 60,000 retirement plans and nearly 8 million participants. This acquisition gives Voya new capabilities and helps the company expand its reach and deepen advisor relationships for the future.
Building on this growth, the company formed a partnership with Blue Owl Capital in 2025 to bring private market investments to retirement plans. Voya now offers collective investment trusts and advisor-managed accounts that include private market strategies for plan sponsors and participants. This partnership allows the firm to offer new investment options and strengthens its focus on future retirement solutions.
The six-person Kraner group based in New Jersey is affiliating through INC Advisor, an office of supervisory jurisdiction.
While the people who took loans or withdrawals as a result of Covid-19 are in a better place financially, they feel behind in their saving.
Last year, the 25 largest independent broker-dealers reported $26.6 billion in revenue, an increase of 4.3% from 2019. Although financial results were far from spectacular, growth at leading IBDs last year was resilient in the face of the Covid-19 pandemic and the havoc it caused for the broader stock market.
The independent broker-dealer, backed by Reverence Capital Partners, is suing an annuity company owned, in part, by the same private equity firm.
The acquisition market for broker-dealers looks like it is perking up as broker-dealer networks owned by private equity managers continue to hunt for assets. Year-to-date there have been four broker-dealer transactions totaling $65 billion in assets.
Unison Risk Advisors and TAG Advisors are launching pooled employer plans.
The agency charged two Cetera broker-dealers with breaching fiduciary duty and defrauding retail advisory clients in connection with the sales of mutual funds.
The out-of-plan solution can be added to workplace offerings.
The largest independent broker-dealer reported forgivable loans to recruits of $419.2 million at the end of last year. Forgivable loans are one of the most common ways broker-dealers use to attract recruits.
Cetera is offering a standard range of transition money to Voya's 900 advisers while LPL is flexing its muscle, according to several market sources.
The activist investor reportedly is pushing Principal to focus more on its wealth management operations and less on the life insurance business.
The case for emergency savings accounts has always been compelling. When low- to moderate-income workers run into problems, they either take out loans or make hardship withdrawals, contributing to plan leakage. The pandemic only highlighted the issue.
Details of the bonus plan have yet to be revealed. But Adam Antoniades, CEO of Cetera, said such a plan would be forthcoming in an effort to retain as many advisers as possible.
Private equity-backed networks like Cetera Financial Group have been eager to expand. The latest deal will add 900 Voya advisers with $40 billion in client assets onto the independent broker-dealer's platform.
2020 was the year that independent broker-dealers needed to rely on technology more than ever, with home-office staff and a large number of advisers working from home or in remote offices. What if criminals breach a broker-dealer's cyber wall?
