Home Financial Stock in Action: Voya Financial Inc (NYSE:VOYA)

Stock in Action: Voya Financial Inc (NYSE:VOYA)


Shares of Voya Financial Inc (NYSE:VOYA) ended Tuesday session in green amid volatile trading. The shares closed up +0.56 points or 1.42% at $40.06 with 982,667 shares getting traded. Post opening the session at $39.69, the shares hit an intraday low of $39.56 and an intraday high of $40.06 and the price vacillated in this range throughout the day. The company has a market cap of $7.86 billion and the numbers of outstanding shares have been calculated to be 194.62 million shares.

Voya Financial Inc (VOYA) declared recently that its retail broker-dealer and registered investment adviser Voya Financial Advisors, Inc., has launched its Business Builder tool, the most recent addition to the firm’s expanding suite of practice administration resources. The new tool, a data-driven modeling and forecasting system, will allow advisors to set and monitor the progress of business growth aims, assisting drive overall success. With a targeted focus on offering advisors the most recent in industry-leading tools and training, Voya Financial Advisors (VFA) has been evolving its network in the past year while making noteworthyinvestments in new resources, technology enhancements and expanded advisory programs. This has assisted the firm grow annual advisory sales by 30 percent during 2015 and drive annual recruiting Assets under Administration (AUM) up 115% through the third quarter of 2016.

“As the financial planning landscape continues to adapt to new regulation and the retirement needs of Americans, it’s more important than ever before for firms to support the business growth of its advisors,” said Tom Halloran, president of Voya Financial Advisors. “At Voya Financial Advisors, we are constantly looking at greater resources and tools to strengthen those efforts, such as our new Business Builder tool. By investing in the most current and relevant practice administration offerings, we are assisting advisors run their businesses more effectively and efficiently, which means they can better serve the holistic retirement needs of their clients.”

The Business Builder tool was designed to assist advisors who serve both retail clients and those serving participants in school, government and nonprofit employer-sponsored retirement plans. The tool will assist all advisors in better managing overall practice models and in aiding the financial and retirement aims of clients. Advisors mainly benefit from the tool’s ability to fit specific business models, providing a comprehensive view of overall Gross Dealer Concession (GDC), sales, and net new assets across multiple product categories, which facilitates a more efficient estimate of growth projections. Building on the strong network of retirement advisors who work in the Tax-Exempt Market (TEM) space, the tool also provides capabilities for adjustments to better fit the unique TEM business model. Retail-focused advisors will now also have access to an established retirement plan market to better suit their individual needs.