The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A 2,100-Advisor B-D Will Trim Half of Its Fund Lineup Not Rated 4.0 Email Routing List Email & Route  Print Print
Thursday, July 20, 2017

A 2,100-Advisor B-D Will Trim Half of Its Fund Lineup

News summary by MFWire's editors

Yet another broker-dealer is trimming its mutual fund shelves, in this case by 50 percent.

Voya Financial Advisors (VFA) is streamlining its mutual fund platform, VFA president Tom Halloran confirms. The independent B-D has about 2,100 FAs working with $48 billion in assets.

"We are in the process of streamlining our product shelf to provide funds that best meet the needs and goals of our clients," Halloran tells MFWire in an emailed statement. "We eventually plan to reduce our offerings to roughly half of what is currently available on our Wealth Solutions [emphasis added] platform."

As for how many mutual funds and fund firms will be affected, the timing of the transition, and more, Halloran did not share any specifics. He confirmed that funds will be evaluated "against a number of key metrics including performance, costs and their popularity in the market."

News of VFA's streamlining plans comes about six months after Scott Stevens joined VFA as senior vice president of third-party funds management after leaving Fidelity FundsNetwork (which is going through its own fund lineup rationalization process).

Stevens did not return a call for comment on VFA's streamlining plans. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use