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John Hancock swims against the tide, doubles down on independent broker-dealer business

June 28, 2016

 

 


John Hancock swims against the tide, doubles down on independent broker-dealer business

By picking up 883 Transamerica advisers and $25 billion in client assets, its Signator Investors B-D now has the scale to compete profitably in era of increased regulation and rising costs

Jun 23, 2016 @ 12:14 pm | By Bruce Kelly | Investment News

Unlike many insurance companies who are fleeing the high-risk, thin-margin independent broker-dealer business, John Hancock Financial Network, through its independent broker-dealer, Signator Investors Inc., has doubled down on its commitment.

Signator in May closed on its deal to acquire 883 registered reps and advisers from Transamerica. Those former Transamerica advisers have $25 billion in client assets and Signator now has close to $50 billion in assets under management, according to Brian Heapps, John Hancock Financial Network’s president.

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