ING on a voyage to change its name, not its color

Insurer close to being spun off in an initial public offering; business to remain the same.
MAY 02, 2013
ING U.S. is changing its name but keeping its signature bright orange hue. The firm's Dutch parent, ING Groep NV, will be spinning off the U.S. unit in an upcoming initial public offering, a move that was set last November. Under the new moniker, Voya Financial, the company will continue selling insurance, investments and retirement plans. Its broker-dealer, ING Financial Partners, also will undergo a name change that will incorporate Voya, but officials haven't yet determined what exactly that will be, according to ING spokesman Dana Ripley. In the meantime, it's business as usual for the advisers and other distributors, he added. The company's strategy also will remain the same: Don't expect Voya to make a flashy return to the variable annuities business, which ING hastily exited about three years ago. “Distributors wanted to know if we were changing the name, did it also mean we were changing the strategy?” said Ann Glover, chief marketing officer of ING U.S. “The answer is no.” Voya will continue to use the color orange in its materials. ING chose Voya out of 5,000 possible contenders, including contributions from employees and distributors. Ms. Glover said the firm picked the winner because it was abstract. “It's coined from a real word that's a positive word — voyage,” she said. “And if that has positive connotations, it gets you started on the right foot.” Apparently, abstract names also make for unique branding. “These names are easier to protect and own,” Ms. Glover said. “It's an empty vessel we get to fill with what we want it to mean. For us, it's providing good experiences for customers.”

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.