Equitable Holdings

What Equitable Holdings does

Equitable Holdings is a U.S.-based diversified financial services holding company tracing its origins to 1859. Operating through two principal franchises—Equitable (retirement, wealth management, and life insurance) and AllianceBernstein (global asset management)—the company serves individual retirement clients, high-net-worth investors, and institutional customers across the United States and globally. As of 2025, Equitable Holdings oversees approximately $1.1 trillion in assets under management and administration and serves more than 5 million client relationships, positioning it as a major integrated retirement, wealth, and asset management platform.

The company generates revenue through three primary streams: life insurance and annuity premiums issued by Equitable Financial Life Insurance Company and Equitable America; asset management fees from AllianceBernstein (a ~68% majority-owned subsidiary managing global equities, fixed income, and alternative investments); and wealth management advisory fees through Equitable Advisors. Its go-to-market motion is sales-led, leveraging affiliated financial advisors, the broker-dealer network, and third-party institutional distribution channels. Pricing for insurance and annuity products is quote-based and varies by individual client circumstances. AllianceBernstein also provides asset management services to over 90 third-party insurance clients with $58 billion in AUM, demonstrating institutional reach.

Equitable Holdings is currently undergoing significant strategic transformation. In 2025, the company completed a landmark $32 billion reinsurance transaction with Reinsurance Group of America (RGA) covering 75% of its in-force individual life insurance block, freeing over $2 billion of capital and reducing net mortality exposure by 75%. In October 2025, the company announced the acquisition of Stifel Independent Advisors (completed May 2026), adding 110+ advisors and approximately $9 billion in client assets. Most consequentially, in March 2026, Equitable announced a $22 billion all-stock merger with Corebridge Financial, expected to close by year-end 2026, creating a combined entity with over $1.5 trillion in AUM serving more than 12 million customers globally. The combined company will be led by Corebridge's Marc Costantini as CEO and Equitable's Mark Pearson as Executive Chair, with Equitable CFO Robin M. Raju assuming the CFO role. AM Best has placed the company's credit ratings under review with developing implications pending merger completion, and multiple law firms are investigating whether the merger terms are fair to shareholders.

Name

Equitable Holdings

Legal name

Equitable Holdings, Inc.

Website

https://equitableholdings.com

Company type

Public

Founded year

1859

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Equitable Holdings is a U.S. financial services holding company operating through Equitable (retirement, wealth management, life insurance) and AllianceBernstein (global asset management). It serves individual retirees, high-net-worth investors, and institutional clients with over $1.1 trillion in AUM.

Ownership category

akta.pro rank

Product category

Life Insurance and Wealth Management

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Portfolio Management and Investment Advice (523940), Insurance Agencies and Brokerages (52421)

SIC

Life Insurance (6311), Investment Advice (6282), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

akta.pro secondary industries

Insurance General Accounts (Institutional Asset Owners) (FSAAAGAG), Managed Accounts & Model Portfolios (SMA/UMA) (FSAAAAAG), Broker-Dealer Affiliated Wealth Advisory (FSAEABAB), Large-Cap Equity (Active) (FSAAAIAA)

Keywords

• Life insurance products
• Annuity products
• Wealth management services
• Asset management services
• Retirement planning

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance and Annuity Premiums: Equitable Holdings generates revenue through life insurance and annuity products issued by Equitable Financial Life Insurance Company and Equitable America, covering individual life insurance and retirement savings products.
2. Asset Management Fees: AllianceBernstein (68% owned subsidiary) generates management fees based on assets under management across global asset management operations including equities, fixed income, and alternative investments.
3. Wealth Management Advisory: Wealth management revenue through Equitable Advisors providing financial planning and advisory services to individual clients, with the segment achieving $200 million annual earnings target ahead of schedule.
4. Investment Income: Net investment income from the company's investment portfolio supporting insurance reserves and general account assets.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Equitable Holdings is a U.S. financial services holding company operating through two principal franchises: Equitable Financial Life Insurance Company (annuities, life insurance, retirement solutions) and AllianceBernstein (global active asset management). The company distributes through affiliated financial advisors under Equitable Advisors and through institutional third-party channels, serving individual, high-net-worth, and institutional clients.

Product overview

Equitable Holdings is a financial services holding company comprising two principal franchises: Equitable Financial Life Insurance Company (established 1859) and AllianceBernstein. The company operates as a unified platform offering three interconnected product lines: Retirement (annuity and life insurance products with an all-weather portfolio to meet varying retirement needs), Wealth Management (financial planning and advisory services through Equitable Advisors), and Asset Management (global active investment management and alternatives through AllianceBernstein). The subsidiaries serve both retail clients through affiliated advisors and institutional clients through third-party distribution channels.

Differentiator

Problem solved

Functional benefit

Brands

• Equitable: Retirement, wealth management, annuity, and life insurance products through Equitable Financial Life Insurance Company and Equitable Advisors.
• AllianceBernstein
• Equitable Advisors

Products and services

• Equitable Retirement and Life Insurance Products Annuity and life insurance products issuer established in 1859, providing retirement and protection solutions through affiliated advisors and third-party institutions to individual clients.
• AllianceBernstein Asset Management A leading active asset manager with global distribution footprint and growing alternatives capabilities, serving institutional and retail clients with investment management services across equities, fixed income, and alternatives.
• Equitable Advisors Wealth Management Registered broker-dealer providing financial planning and wealth management services through affiliated financial professionals to affluent and high-net-worth individuals.

Quantifiable outcome

• $1.6 billion organic cash generation in 2025
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Corebridge FinancialcoreStrategic or Co-development Partner · 26 March 2026Equitable Holdings and Corebridge Financial announced a $22 billion all-stock merger creating a diversified financial services company with over $1.5 trillion in assets under management. The combined entity will serve over 12 million customers across retirement services, life insurance, wealth management, and global asset management. Corebridge shareholders will own approximately 51% and Equitable shareholders 49% of the merged entity, expected to close by end of 2026 pending regulatory and shareholder approvals.
• Stifel Financial (Stifel Independent Advisors)coreStrategic or Co-development Partner · 1 October 2025Equitable Holdings agreed to acquire Stifel Independent Advisors, a subsidiary of Stifel Financial, to expand its U.S. wealth management platform. The acquisition adds over 110 advisors managing approximately $9 billion in client assets. The deal was expected to close in early 2026 pending regulatory approvals.
• Reinsurance Group of America (RGA)coreStrategic or Co-development Partner · 1 April 2025RGA completed a landmark $32 billion life reinsurance transaction with Equitable Holdings, reinsuring 75% of Equitable's in-force individual life insurance block. The transaction freed over $2 billion of capital for Equitable and reduced net mortality exposure by 75%. RGA expects the transaction to contribute $160-170 million in pretax operating income in 2026 and $200 million annually by 2027.

Scale indicators14 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• MetLife: MetLife is a global financial services incumbent offering individual and group life insurance, annuities, and retirement products, competing directly with Equitable's retirement and protection franchises across U.S. retail and institutional channels.
• Manulife Financial: Manulife is a global financial services incumbent with strong U.S. life insurance, annuities (John Hancock), and asset management operations, competing with Equitable's retirement, life, and AllianceBernstein-equivalent institutional AM businesses.
• Prudential Financial: Prudential is a much larger, broadly diversified financial services incumbent offering individual life insurance, annuities, retirement, asset management (PGIM), and group insurance — directly competing with Equitable across all three franchises.

Direct peers

• Brighthouse Financial: Brighthouse Financial is a pure-play U.S. annuity and life insurance carrier spun off from MetLife, competing directly with Equitable's individual retirement and life insurance products, particularly in the indexed and variable annuity markets.
• Principal Financial Group: Principal Financial is a comparable U.S. financial services holding company offering retirement solutions, asset management (Principal Asset Management), and individual life insurance, competing with Equitable across retirement, wealth, and institutional AM.
• Corebridge Financial: Corebridge is Equitable's pending merger partner and the most direct comparable: a major U.S. retirement, life insurance, and institutional asset management platform with overlapping products (annuities, group retirement, individual life) and similar target customers (retirees, institutional investors).
• Athene Holding: Athene is a leading U.S. retirement services company specializing in fixed, fixed-indexed, and payout annuities for retail and institutional clients — a direct competitor in the spread-based retirement annuity market that anchors Equitable's retirement segment.
• Jackson Financial: Jackson Financial is a leading U.S. annuity provider focused on variable, fixed index, and registered index-linked annuities, directly competing with Equitable Financial's retirement income and accumulation products.
• Lincoln National: Lincoln National is a closely comparable U.S. life insurance, annuity, and retirement plan provider competing head-to-head with Equitable in individual annuities, workplace retirement, and life insurance distribution through affiliated advisors.
• Voya Financial: Voya Financial is a U.S. retirement, employee benefits, and investment management company competing directly with Equitable in workplace retirement plans, individual life insurance, and wealth management advisory services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Equitable Holdings