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John Hancock Completes Acquisition Of Symetra Investment Services
Eliane Chavagnon
2 October 2013
has completed its acquisition of Bellevue, WA-based
Symetra Investment Services from Symetra Financial Corporation. Symetra Investment Services, a dual registered
broker-dealer and registered investment advisor, is now part of John Hancock
Financial Network, which has 1,600 registered representatives through its broker-dealer and investment advisor, Signator Investors. Symetra, which had some 250 registered
representatives at close, will use the name Signator Financial Services. "Given Symetra's current product lineup, SIS is no longer a good
strategic fit for us as a distribution channel. John Hancock Financial
Network will offer many advantages to SIS advisors, allowing them to
thrive with greater scale and resources for clients as well as business
development support," Tom Marra, president and chief executive of Symetra Financial Corporation, previously said.
John Hancock Financial is a division of Manulife Financial,
the Canada-based financial services group which has primary operations in Asia, Canada and the US.