ING U.S. recently announced the hiring of Thomas Halloran as president of ING Financial Partners (IFP), ING U.S.’ registered broker-dealer.
Mr. Halloran, who most recently served as managing director at Bank of America Merrill Lynch will replace Karl Lindberg, who is moving into a new role developing and overseeing IFP’s advisory practice, infrastructure and service model in support of a growing number of registered representatives.
Mr. Halloran will be based in Braintree, Mass., and report to Rich Linton, president of Individual Markets. In his new role he will be responsible for the overall management, strategy and growth of IFP, which recently announced that recruiting to the broker-dealer is up 25 percent from last year while the average production has nearly doubled.
In other ING news, ING U.S., which is in the process of rebranding as Voya Financial, announced recently the pricing of 33 million shares of common stock being offered by ING Group at a price of $29.50 per share.
The offering, which is part of a deliberate reduction of ING Group’s ownership of ING U.S., will bring its ownership to 59 percent at the closing of the transaction.
In a further effort to reduce ownership in ING U.S., ING Group has granted underwriters in the offering the option — exercisable within 30 days — to acquire up to 5 million shares from ING Group at the offering price. If fully realized, the option would reduce ING Group’s ownership to 57 percent.
In other industry news:
The LIMRA LOMA Secure Retirement Institute has established a new retirement designation tailored to the needs of retirement industry professionals.
The LIMRA LOMA Secure Retirement Institute, which provides unbiased research and education regarding all aspects of the retirement industry, with the aim of improving retirement readiness and promoting retirement security, designed the Fellow, Secure Retirement Institute designation to further empower retirement professionals.
The designation, which can be completed through an online self-study program, teaches participants the retirement business from the perspective of individuals, sponsors, advisors and providers, with the goal of showcasing how the separate parties impact one another.
Developed to coincide with National Save for Retirement Week, Nationwide Financial’s public sector retirement plan business has launched a website designed to assist employers and their employees in preparing for retirement.
The website, “What’s Your Date?” allows users to pinpoint their retirement date and then utilizes an interactive and personalized planning process to help educate them on what is needed for a financially sound retirement.
EQuote.com recently announced that they are now offering annuities.
The online term life insurance brokerage added annuities and long-term care plans in order to offer customers a more comprehensive service.