Voya Launches New Digital Advice Platform to Support Retail Advisors and their Clients

Voya Financial, Inc. (NYSE: VOYA), announced today that its retail wealth management firm, Voya Financial Advisors, Inc. (VFA), has launched a new digital advice experience for its network of advisors and their clients. Unlike other digital solutions in the advice industry, the Voya Digital Adviser platform provides a hybrid approach for advisors and investors. It was strategically designed to combine the ease, automation and flexibility of a self-guided service while preserving the valuable interaction of a financial professional.

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“We are pleased to offer our advisors and their clients an innovative yet easy-to-use digital advice solution that includes the advisor as part of the experience,” said Tom Halloran, president of Voya Financial Advisors. “While the typical direct-to-consumer digital service removes the advisor from the equation, our new platform ensures that the advisor remains integral to the process. This enables a client to receive the best of both worlds — access to self-directed investment advice model portfolios, along with the value and expertise of a personal advisor relationship.”

Research from Voya confirms that advisors recognize the power of digital advice solutions and how this technology can benefit their practices. More than half of the advisors in a recent poll believed that a hybrid digital advice tool could help grow their businesses by up to 10%. Many also confirmed that such a tool could complement their current service offering by making it easier to access important client information and reach younger or less affluent investors.¹

Ease and Flexibility for Advisors and Clients

The new Voya Digital Adviser can help VFA advisors become more efficient as they look to grow their practice. With a minimum requirement of only $5,000 to fund an account, advisors can support emerging investors who might not otherwise fit into their typical service model. Meanwhile, through a predominantly digital experience, clients gain full access to their investments along with advice “on-the-go” at an attractive price-point compared to a traditional advisory relationship.