Voya Financial completes acquisition of OneAmerica Financial’s retirement plan business — now supports nearly 8 million participants

NEW YORK--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA) announced today that it has completed its acquisition of the OneAmerica Financial, Inc. full-service retirement plan business.

As a result of the acquisition, Voya’s Wealth Solutions business now serves approximately 60,000 retirement plans supporting nearly 8 million participants, with Wealth Solutions Defined Contribution client assets now growing to $670 billion.¹ The acquisition, which was announced in September 2024, advances Voya’s growth strategy in Workplace Solutions by adding strategically attractive scale to Voya’s full-service retirement business within Wealth Solutions. The acquisition also provides Voya with a broader set of capabilities that complement its existing product suite, including competitive employee stock ownership plan administration, and new opportunities to expand the firm’s distribution footprint and deepen its existing advisor relationships.

“Completing this acquisition is an important milestone in our commitment to growing our Workplace Solutions businesses,” said Heather Lavallee, CEO, Voya Financial. “As we welcome the OneAmerica Financial retirement customers and associates to Voya, we look forward to working together with our talented and complementary new team members to continue to deliver the quality products and services our clients have come to know and expect from our collective teams. We are excited about the tremendous benefits this acquisition brings to our stakeholders as we move forward, including our colleagues, customers, and intermediary partners.”

Voya plans to provide further details about the transaction during its fourth-quarter and full-year 2024 earnings call in early February 2025.

Citi served as financial advisor and Eversheds Sutherland LLP served as legal counsel to Voya in connection with this transaction. Goldman Sachs & Co. LLC served as financial advisor, and Sidley Austin LLP served as legal counsel to OneAmerica Financial Partners.

1. Based on OneAmerica Financial, Inc. and Voya Financial data as of Sept. 30, 2024.

About Voya Financial^®

Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with approximately 9,000 employees who are focused on achieving Voya’s aspirational vision: “Clearing your path to financial confidence and a more fulfilling life.” Through products, solutions and technologies, Voya helps its 15.2 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya’s workplace benefits and savings offerings by engaging directly with more than 12 million employees in the U.S. Certified as a “Great Place to Work” by the Great Place to Work^® Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies^® by Ethisphere; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, Instagram and LinkedIn.

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