Voya Financial enhances advisor-managed accounts advisory program with launch of new non-core funds offering

New ‘Primary Plus’ investment lineup introduced as Voya’s total assets in managed account solutions increase 27% in the first quarter of 2024

WINDSOR, Conn.--(BUSINESS WIRE)-- Voya Financial, Inc. (NYSE: VOYA), announced today the launch of Primary Plus, an expanded lineup of non-core investment solutions within its Advisor Managed Account (AMA) program. The new solution allows third-party Registered Investment Advisor (RIA) firms that offer a managed account program through Voya the opportunity to introduce investment options outside of a plan’s core investment lineup.

“At Voya, we know that employees want — and value — a personalized approach to financial guidance. As a result, we continue to see a growing interest in managed account solutions, with total assets increasing 27% since the year prior in the first quarter of 2024 alone,”¹ said Andre Robinson, senior vice president, Retail Wealth Management and Advisory Solutions at Voya Financial. “By helping to improve both saving and investment decisions, we know that managed account solutions can have a positive impact on a participant’s retirement outlook.”

Built to address an increasing interest from advisors, Voya’s Primary Plus solution provides funds not specified in a plan’s core investment lineup as an opportunity to increase a participant’s investment exposure to an asset class. These funds can include solutions such as collective investment trusts or mutual funds. The solution also enables RIA firms to build a more comprehensive managed account program with Voya, providing participants who enroll in the managed account program with a customized and diverse allocation designed to help them reach their retirement goals.

Voya’s Advisor Managed Accounts program provides RIAs the resources they need to distribute investment advice to retirement plan participants through a consistent and scalable user experience. Leveraging a seamless and integrated platform, the AMA program at Voya helps to ease the implementation and monitoring for an RIA firm and ensures advisors have access to a network of recordkeepers. Since the introduction of the program in 2021, the AMA program at Voya now supports over 400 plans that leverage the service.

“Our focus is to create a pressure-free experience where plan participants have the information, guidance or advice they need to make better savings and planning decisions,” said Jason White, director, Advisory Services at Voya Financial. “By offering a comprehensive suite of in-plan and out-of-plan solutions, we remain focused on providing products and programs that support financial professionals in helping their clients reach their future goals.”

The introduction of Primary Plus builds upon Voya’s growing advice and guidance solution program. Most recently, the firm announced the launch of Voya Pathway QDIA™, a new dual Qualified Default Investment Alternative (QDIA) available across Voya’s various managed account programs within Voya-administered retirement plans. In addition, Voya remains focused on investing in and creating solutions that will help enable more positive retirement outcomes. This includes an advisory services program, providing participants in Voya-administered retirement plans with a broader scope of access to advice services as well as access to myVoyage, a personalized financial-guidance and connected workplace-benefits digital platform.

As an industry leader focused on the delivery of benefits, savings and investment solutions to and through the workplace, Voya is committed to delivering on its mission to make a secure financial future possible for all — one person, one family, one institution at a time.

1. Voya internal data as of March 31, 2024.

About Voya Financial^®

Voya Financial, Inc. (NYSE: VOYA), is a leading health, wealth and investment company with approximately 9,000 employees who are focused on achieving Voya’s aspirational vision: Clearing your path to financial confidence and a more fulfilling life. Through products, solutions and technologies, Voya helps its 15.2 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya’s workplace benefits and savings offerings by engaging directly with over 12 million employees in the U.S. Certified as a “Great Place to Work” by the Great Place to Work^® Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies^® by Ethisphere; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, Instagram, and LinkedIn.

Advisor-Managed Accounts is offered by Morningstar Investment Management LLC and is intended for citizens or legal residents of the United States or its territories. The portfolios available through Advisor-Managed Accounts are created by an investment adviser (the “IA”) chosen by a plan sponsor. Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., is responsible for participant portfolio assignment from those portfolios created by the IA. The IA is not affiliated with Morningstar Investment Management and Morningstar Investment Management is not responsible for the portfolios the IA creates. The IA is not responsible for the portfolio selection made by Morningstar Investment Management, nor for other recommendations made by Morningstar Investment Management through Advisor-Managed Accounts. Investment advice delivered by Morningstar Investment Management is based on information provided and limited to the investment options available in each retirement plan. Projections and other information regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results, and are not guarantees of future results. Results may vary with each use and over time. Morningstar Investment Management and Morningstar, Inc., are not affiliated with the Voya family of companies.

VOYA-RET

View source version on businesswire.com: https://www.businesswire.com/news/home/20240604343395/en/

Media Contact:

Kris Kagel

Voya Financial

Cell: (201) 221-6534

Kristopher.kagel@voya.com

Source: Voya Financial, Inc.