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Voya Selling Broker Unit to Cetera

Cetera Financial Group has agreed to buy Voya Financial’s retail brokerage unit. So reports AdvisorHub.

handshake 220233 1280Voya’s broker unit has about 900 independent brokers, 385,000 customers and services about $40 billion in client assets.

The value of the deal was not disclosed, but Voya said it expects to get more than $300 million in ‘deployable proceeds’ when the deal closes, which should be the second or third quarter of the year.

Read the full article from AdvisorHub.

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