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.
The well-attended Blue Vault session at the recent National Planning Holdings National Conference was very well received. The value of their products was evidenced by the volume of questions from the attendees. Stacy Chitty, Managing Partner, did an excellent job of explaining the history, strategy and value of Blue Vault data.