Lion Street, a financial services firm specializing in serving wealthy individual and corporate clients, has announced a strategic partnership with Voya Financial’s (VOYA) individual life insurance business.
The alliance will help the 115 firms that own Lion Street choose life insurance policies for their individual and corporate clients. They will have access to a variety of educational tools and services from Voya’s life insurance unit including the Voya Life Journey, an online, mobile selling system and its interactive, long-term IMPACT services, which can help advisors manage client expectations and results for select indexed university life products.
“Lion Street owner-firms put significant trust in their leadership team and board of directors to evaluate and select life insurance companies that will provide the best combination of value and performance for their important personal and corporate clients,” said Lion Street founder and CEO Bob Carter, in a statement. “The company’s vision, leadership and commitment to apply unique resources to our Advisor-Owners made this decision a clear one.”
Lion Street said it was also attracted to Voya Financial’s financial performance and recent upgrades by major ratings agencies.
For its part, Voya sees the partnership as a reflection of its “commitment to helping Americans plan, invest and protect their savings so they can retire better,” said David Wilken, president of Voya’s Individual Life business.
Voya, formerly known as ING U.S. before it was spun off from Dutch company ING Groep, serves 13 million individual and institutional customers in the United States. It had $11 billion in revenue in 2014 and $450 billion in total assets under management and administration as of September 30, 2015.