Who Is Voya Financial? A Deep Dive into the Financial Powerhouse

Voya Financial is a leading retirement, investment, and insurance company, helping individuals and institutions achieve their financial goals. Officially rebranded from ING U.S. in 2014, Voya offers a comprehensive suite of products and services designed to simplify the complexities of financial planning and empower people to save, invest, and protect their financial futures.

Understanding Voya’s Core Business Areas

Voya operates across several key areas, each contributing to its overall mission of financial empowerment. Understanding these areas is crucial to grasp the breadth of Voya’s impact.

Retirement Services: Building a Secure Future

Voya’s retirement business is perhaps its most well-known. They provide a wide range of retirement plans for businesses of all sizes, including:

• 401(k) plans: Offering diverse investment options and robust educational resources.
• 403(b) plans: Catering to the unique needs of non-profit organizations and educational institutions.
• Defined Benefit plans: Providing traditional pension solutions for organizations seeking predictable retirement income for their employees.
• Individual Retirement Accounts (IRAs): Supporting individuals saving independently for retirement.

Voya’s retirement services go beyond simply offering plans. They provide extensive participant education, investment advice, and planning tools designed to help individuals make informed decisions and maximize their retirement savings. They are a leader in retirement readiness assessments and offer personalized guidance to help individuals stay on track toward their goals.

Investment Management: Growing Your Wealth

Voya Investment Management is a global asset manager, offering a diverse range of investment strategies across asset classes. Their expertise spans:

• Equities: Investing in stocks across various market capitalizations and geographic regions.
• Fixed Income: Managing bond portfolios with varying risk profiles and maturities.
• Multi-Asset Strategies: Combining different asset classes to achieve specific investment objectives.
• Alternative Investments: Offering access to less traditional investments like private equity and real estate.

Voya Investment Management leverages its global research capabilities and experienced portfolio managers to deliver competitive investment performance for its clients. They serve a wide range of clients, including institutional investors, financial advisors, and individual investors through mutual funds and other investment products.

Insurance Solutions: Protecting What Matters Most

Voya provides a suite of insurance products designed to protect individuals and families from financial hardship due to unexpected events. These products include:

• Life Insurance: Offering term, whole, and universal life insurance policies to provide financial security for beneficiaries.
• Employee Benefits: Providing workplace benefits such as group life insurance, disability insurance, and stop-loss insurance.
• Annuities: Offering both fixed and variable annuities to provide guaranteed income streams in retirement.

Voya’s insurance solutions are designed to provide financial protection and peace of mind. They offer a variety of policy options to meet the diverse needs of their clients.

Voya’s Commitment to Corporate Social Responsibility

Beyond its core business operations, Voya is deeply committed to corporate social responsibility. They focus on several key areas:

• Environmental Sustainability: Implementing environmentally friendly practices across their operations.
• Diversity & Inclusion: Fostering a diverse and inclusive workplace where all employees feel valued and respected.
• Community Involvement: Supporting charitable organizations and initiatives that benefit the communities they serve.

Voya’s commitment to corporate social responsibility reflects its belief that businesses have a responsibility to make a positive impact on the world.

Frequently Asked Questions (FAQs) about Voya Financial

Here are some frequently asked questions to provide further clarity on Voya Financial.

1. Is Voya Financial a reputable company?

Yes, Voya Financial is a reputable company with a long history in the financial services industry. They are a publicly traded company (NYSE: VOYA) and are subject to regulatory oversight. They have strong financial ratings from leading rating agencies, indicating their financial strength and stability.

2. What types of retirement plans does Voya offer?

Voya offers a wide range of retirement plans, including 401(k) plans, 403(b) plans, defined benefit plans, and individual retirement accounts (IRAs). They cater to both employers and individuals seeking to save for retirement.

3. How does Voya help employees prepare for retirement?

Voya provides extensive participant education, investment advice, and planning tools designed to help employees make informed decisions about their retirement savings. They offer retirement readiness assessments and personalized guidance to help individuals stay on track toward their goals.

4. What investment options are available through Voya?

Voya offers a diverse range of investment options across asset classes, including equities, fixed income, multi-asset strategies, and alternative investments. They have both actively managed and passively managed investment options available.

5. Does Voya offer financial planning services?

While Voya doesn’t offer personalized financial planning services directly to individual clients, they equip employees with the tools and resources to conduct self-directed planning. They partner with employers to provide access to financial wellness programs and resources that guide individuals through the planning process. Some retirement plans may have access to professional advisors.

6. What kind of insurance products does Voya offer?

Voya offers a suite of insurance products, including life insurance, employee benefits (such as group life and disability insurance), and annuities. These products are designed to protect individuals and families from financial hardship due to unexpected events.

7. How can I contact Voya Financial?

You can contact Voya Financial through their website (Voya.com), their customer service phone lines, or through your employer’s benefits administrator if you have a Voya retirement plan or insurance policy through your workplace.

8. What is Voya’s commitment to environmental sustainability?

Voya is committed to environmental sustainability and implements environmentally friendly practices across their operations. They focus on reducing their carbon footprint, conserving resources, and promoting sustainable business practices.

9. What is Voya’s approach to diversity and inclusion?

Voya is committed to diversity and inclusion and fosters a diverse and inclusive workplace where all employees feel valued and respected. They have programs and initiatives in place to promote diversity at all levels of the organization.

10. How does Voya support the communities it serves?

Voya supports the communities it serves through charitable donations, volunteer programs, and partnerships with non-profit organizations. They focus on initiatives that promote financial literacy, education, and community development.

11. Is my money safe with Voya?

Voya is a financially stable company that is subject to regulatory oversight. They have strong financial ratings from leading rating agencies, indicating their financial strength. However, as with any investment, there are risks involved, and your investment may lose value. It’s crucial to review your individual investment choices and risk tolerance.

12. How do I access my Voya account online?

You can access your Voya account online through the Voya website (Voya.com). You will need to register for an account and create a username and password. Once logged in, you can view your account balances, investment performance, and make transactions.

In conclusion, Voya Financial is a comprehensive financial services provider, offering a wide range of retirement, investment, and insurance solutions. Their commitment to financial empowerment, corporate social responsibility, and customer service positions them as a key player in the financial landscape. By understanding Voya’s core business areas and the resources they provide, individuals and institutions can leverage their expertise to achieve their financial goals and secure their financial future.