On May 16, 2016, John Hancock Financial Network, Inc., a distribution channel of John Hancock, announced completion of its acquisition of certain assets of Transamerica Financial Advisors, Inc.
The acquisition will add more than 800 Transamerica Financial Advisors, Inc. (“Transamerica”) advisors and more than 80 Transamerica employees to Signator Investors, Inc. (“Signator”). Signator will grow its assets under administration to nearly $50 billion at the close of the transaction. The terms of the deal were not disclosed.
Signator operates as a broker-dealer of John Hancock Financial Network, Inc. (“JHFN”). JHFN is the US-based division of Manulife, a Canada-based financial services group focusing on a range of financial protection products and wealth management services. Manulife and its subsidiaries have assets under management of $697 billion as of March 31, 2016.
Transamerica is a Baltimore-based provider of life insurance, savings and retirement and investment solutions. Transamerica is part of the Aegon group of companies, which provides life insurance, pension solutions, and asset management products. Aegon managed $768 billion in revenue generating investments in 2015.
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