John Hancock, a unit of Manulife Financial Corporation (MFC), agreed to acquire Bellevue, Wash.-based Symetra Investment Services (SIS) from Symetra Financial Corporation (SYA). The transaction is anticipated to close in three to six months, subject to regulatory approvals. Terms were not disclosed. Symetra Investment Services, Inc., a dual registered broker-dealer/investment advisor firm with approximately 280 registered representatives, would become affiliated with John Hancock Financial Network (JHFN). JHFN currently has 1,600 registered representatives through its current dual registered broker-dealer/investment advisor, Signator Investors Inc.
In other industry news:
SBLI of Massachusetts named William R. Izor, CLU, ChFC, CFP, and Patrick Johnson, CLU as regional vice presidents. Izor and Johnson join SBLI’s current Regional Vice President, Gerard Kreuz, CLU, ChFC.
Izor’s territory will extend from southern California throughout the southern half of the country. He previously served as the vice president of National Accounts for Prudential Select Brokerage. Prior to that, he was the regional director for Southern California at The Penn Mutual Life Insurance Company.