Equitable

What Equitable does

Equitable Holdings, Inc. (NYSE: EQH) is a diversified financial services company founded in 1859 and headquartered at 1345 Avenue of the Americas, New York. The company operates across four primary lines: Wealth Management (Equitable Advisors, a top-10 independent broker-dealer with 4,500+ financial professionals managing $110 billion in assets under administration), Investment Management (Equitable Investment Management with $128.7 billion AUM via the 1290 Funds mutual fund family, variable insurance portfolios, and Managed Portfolio Strategies), Insurance and Retirement (variable annuities including the Structured Capital Strategies family, variable and indexed universal life insurance, and 401(k)/403(b) Pooled Employer Plans), and Employee Benefits (dental, vision, life, disability, accident, critical illness, hospital indemnity, and paid family leave products). AllianceBernstein (68% owned) contributes approximately $600 million in annual non-regulated cash flow. The firm serves over 12 million customers on a combined-entity basis post its announced Corebridge Financial merger.

The underlying technology platform centers on the Equitable Investment Management (EIM) platform, which offers 12 model portfolio strategies with diverse risk profiles powered by 1290 Funds and distributed via LPL Financial's Model Wealth Portfolios program. EIM is supported by 60+ investment professionals and 40+ subadvisory partners. The company has been an early mover in agile transformation within financial services and has invested in proprietary structured investment options such as Structured Capital Strategies (Premier, Income, PLUS variants) and the Dynamic Mutual Fund and ETF Series with tactical momentum overlay and volatility mitigation features. Technology integrations include LPL Financial for advisor distribution and partnerships with PlanConnect LLC, MAP Retirement, and SWBC Retirement Plan Services for the 403(b) Pooled Employer Plan offering. The only disclosed AI application is HiredScore for recruiting process automation.

Equitable generates revenue through multiple recurring streams: wealth management advisory fees on $110B AUA, insurance and annuity premiums ($4.3B in 2025, up 27% YoY), variable annuity and life insurance commissions and fees, employer-sponsored employee benefits administration on a subscription basis, and investment management fees on $128.7B AUM. The go-to-market is primarily sales-led through the Equitable Advisors financial professional network complemented by direct-to-employer workplace channels and a recently launched direct-to-nonprofit 403(b) PEP offering. Q4 2025 revenue was $3.28 billion, full-year non-GAAP operating earnings were $5.64 per share, and $1.6 billion of organic cash generation supported $1.8 billion in capital return to shareholders.

Name

Equitable

Legal name

Equitable Holdings, Inc.

Website

https://equitable.com

Company type

Public

Founded year

1859

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Equitable Holdings is a publicly traded diversified financial services company offering retirement, insurance, investment management, and wealth advisory solutions to individuals, employers, and nonprofit organizations through 4,500+ financial professionals and $1.1 trillion in assets.

Ownership category

akta.pro rank

Product category

Insurance and Retirement Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Agencies, Brokerages, and Other Insurance Related Activities (5242), Portfolio Management and Investment Advice (523940), Direct Health and Medical Insurance Carriers (524114)

SIC

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

akta.pro primary industry

Universal Life (UL) Insurance (FSAIABAB)

akta.pro secondary industries

Annuities & Investment-Linked Insurance Solutions (Retail) (FSAAAAAM), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• Retirement planning services
• Variable annuity products
• Life insurance underwriting
• Wealth management advisory
• Workplace retirement plans

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 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. Wealth Management Fees: Fee-based revenue from financial advisory services provided by 4,500+ financial professionals managing over $110 billion in assets under administration
2. Insurance Premiums: Life insurance and annuity premium revenue with 27% increase in premiums and deposits to $4.3 billion in 2025
3. Variable Annuity and Life Insurance: Revenue from variable insurance products including Structured Capital Strategies, VUL products, and retirement solutions through commission and fee structures
4. Employee Benefits Administration: Suite of employer-sponsored insurance products including dental, vision, life, disability, accident, and critical illness coverage

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Equitable is a diversified financial services company that underwrites and distributes variable annuities, indexed and variable universal life insurance, term and guaranteed-issue life insurance, and 401(k)/403(b) pooled retirement plans for individuals and employers. It also delivers employee benefits (dental, vision, life, disability, accident, critical illness, hospital indemnity, paid family and medical leave), retail mutual funds (1290 Funds), managed portfolio strategies, variable insurance portfolios, and wealth advisory through the Equitable Advisors broker-dealer channel. Operations span retirement, insurance, investment management, and wealth management segments with $1.1 trillion in assets under management and administration.

Product overview

Equitable is a diversified financial services company offering a comprehensive suite of retirement, insurance, and investment products. The core annuity offerings include five Structured Capital Strategies variants (Premier, Income, Plus, Retirement Cornerstone, and Investment Edge) providing variable annuity solutions with structured investment options. Life insurance products encompass both variable universal life (VUL Incentive Life Protect, VUL Optimizer, COIL Institutional Series) and indexed universal life (BrightLife Grow), along with Term and Guaranteed Issue products. Workplace retirement solutions include 401(k) and 403(b) Pooled Employer Plans (PEPs) for employers. The Employee Benefits division provides a complete voluntary benefits portfolio including Dental, Vision, Life, Disability, Accident, Critical Illness, and Hospital Indemnity insurance, plus Paid Family and Medical Leave programs. Investment management is delivered through Equitable Investment Management offering 1290 Funds mutual funds, Managed Portfolio Strategies via LPL's Model Wealth Portfolios platform, and Variable Insurance Portfolios. Equitable Advisors serves as the wealth management and advisory distribution channel. Products operate across a platform-plus-distribution model, with insurance and annuity products issued by Equitable Financial Life Insurance Company and Equitable Financial Life Insurance Company of America.

Differentiator

Problem solved

Functional benefit

Brands

• Equitable Advisors: Wealth management and financial advisory services, recognized as a top-10 independent broker-dealer by Financial Planning and Financial Advisor Magazine.
• Equitable Investment Management (EIM)
• 1290 Funds
• Equitable Financial
• Equitable America
• PlanConnect LLC

Products and services

• Structured Capital Strategies Premier Variable annuity offering structured investment options with market participation and downside protection features for retirement savers.
• Structured Capital Strategies Income Variable annuity product tailored for income-focused investors seeking structured investment options in retirement.
• Structured Capital Strategies PLUS Variable annuity product offering enhanced structured investment options with additional features for retirement savers seeking structured upside and downside protection.
• Retirement Cornerstone Client-friendly variable annuity with educational resources designed to help consumers understand and plan for retirement income.
• Investment Edge Variable Annuity Variable annuity product offering investment-focused structured options for retirement savers seeking growth with protection features.
• VUL Incentive Life Protect Variable universal life insurance product with incentive features designed for policyholders seeking permanent life coverage with cash value growth.
• VUL Optimizer Variable universal life insurance product designed for optimized premium allocation and cash value growth within a permanent life insurance contract.
• COIL Institutional Series Variable universal life insurance product designed for institutional or high-net-worth clients requiring larger face amounts and tailored structuring.
• BrightLife Grow Indexed universal life insurance product focused on cash value growth tied to a market index within a permanent life insurance contract.
• Term Series Life Insurance Term life insurance policies providing death benefit coverage for specified time periods at competitive premium rates.
• Guaranteed Issue Life Insurance Life insurance product offering guaranteed acceptance regardless of health conditions, designed for applicants who may not qualify for traditional underwriting.
• 401(k) Retirement Plan Workplace retirement plan services for employers including a Pooled Employer Plan (PEP) option that bundles plan design, administration, and investment fiduciary support.
• 403(b) Pooled Employer Plan (PEP) Pooled Employer Plan targeting 403(b) nonprofit organizations, bundling recordkeeping (PlanConnect LLC), pooled plan provider services (MAP Retirement), and investment fiduciary oversight (SWBC Retirement Plan Services) to deliver cost-effective retirement benefits for nonprofit employees.
• Dental Insurance (Employee Benefits) Voluntary and employer-funded dental insurance for workplace groups, leveraging a network of 136,000 providers and 500,000 access points nationally.
• Vision Insurance (Employee Benefits) Voluntary vision insurance for workplace groups delivered via VSP Vision Care, with access to 43,000 providers and 128,000 access points.
• Group Life Insurance (Employee Benefits) Group life insurance products for employers with flexible plan benefits and guaranteed issue maximums for participating employees.
• Short- and Long-Term Disability Insurance Short- and long-term disability insurance providing income replacement for employees unable to work due to illness or injury.
• Accident Insurance Voluntary accident insurance that pays cash benefits directly to employees for injuries resulting from covered accidents.
• Critical Illness Insurance Voluntary critical illness insurance covering serious illnesses including heart attack, stroke, cancer, benign brain tumor, paralysis, and burns.
• Hospital Indemnity Insurance Voluntary hospital indemnity insurance providing financial protection during hospital stays, with enhanced ICU benefits and optional surgery and mental health coverage.
• Paid Family and Medical Leave State statutory disability and paid family and medical leave program administration for employers in Colorado, Connecticut, Massachusetts, New Jersey, New York, and Oregon.
• 1290 Funds Family of retail mutual funds structured to uncover opportunities where active portfolio management can add value, advised by Equitable Investment Management Group, LLC.
• Managed Portfolio Strategies Twelve model portfolio strategies with diverse structures and risk profiles, powered by 1290 Funds and made available through LPL Financial's Model Wealth Portfolios platform to financial intermediary clients.
• Variable Insurance Portfolios Investment portfolios supporting variable life insurance and variable annuity contracts, offering equity, bond, international, asset allocation, and volatility-managed options.
• Equitable Advisors Wealth Management Services Wealth management advisory services delivering financial planning, investment planning, risk management, retirement planning, estate planning, and business succession planning through the Equitable Advisors network of 4,500+ financial advisors.

Quantifiable outcome

• Record $1.1 trillion assets under management and administration, up 10% year-over-year
• +5 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core, flagship and minor.

• Reinsurance Group of America (RGA)coreStrategic or Co-development Partner · 7 June 2026$1.5 billion reinsurance agreement covering $32 billion in life insurance policies, transferring mortality exposure and freeing capital for Equitable while expanding RGA's life reinsurance footprint.
• PlanConnect LLCcoreImplementation/ SI/ Consulting Partner · 9 April 2026Recordkeeper for Equitable's new 403(b) Pooled Employer Plan targeting nonprofit organizations, providing scalable retirement benefit solutions.
• MAP RetirementcoreImplementation/ SI/ Consulting Partner · 9 April 2026Pooled plan provider and third-party administrator for Equitable's 403(b) PEP offering comprehensive administration services for nonprofit retirement plans.
• SWBC Retirement Plan ServicescoreImplementation/ SI/ Consulting Partner · 9 April 2026Investment fiduciary partner for Equitable's 403(b) PEP providing fiduciary oversight for nonprofit retirement plan investments.
• Corebridge FinancialflagshipStrategic or Co-development Partner · 26 March 2026All-stock merger creating a $22 billion diversified financial services company serving over 12 million customers with $1.5 trillion in assets under management and administration. Corebridge shareholders will own approximately 51% and Equitable shareholders 49% of the combined entity operating under the Equitable brand. Expected to close by end of 2026 with $500 million in annual pre-tax expense synergies targeted by end of 2028.
• AllianceBernsteincoreStrategic or Co-development Partner · 26 March 202668% owned subsidiary contributing approximately $600 million in annual non-regulated cash flow to the combined Equitable-Corebridge entity post-merger, providing investment management expertise.
• Stifel Financial Corp.coreStrategic or Co-development Partner · 27 October 2025Acquisition of Stifel Independent Advisors subsidiary, bringing over 110 advisors managing approximately $9 billion in assets, expected to close Q1 2026 pending regulatory approval.
• MetLife Investment ManagementcoreStrategic or Co-development Partner · 15 April 2025$700 million forward-flow facility for Octane with MetLife, Equitable, and New York Life collaborating on a financial transaction within the insurance sector to support Octane's growth and originations expansion.
• New York LifecoreStrategic or Co-development Partner · 15 April 2025$700 million forward-flow facility partnership with MetLife Investment Management and Equitable to support Octane's growth, which increased originations by 36% in 2024.
• LPL FinancialcoreTechnology or IntegrationModel Wealth Portfolios platform provider for Equitable Investment Management's managed portfolio strategies, enabling distribution of 12 model portfolio strategies to clients of financial intermediaries.
• ALPS Distributors, Inc.minorChannel Partner/ Reseller/ DistributorDistributor for 1290 Funds family of retail mutual funds advised by Equitable Investment Management Group, distributed through Equitable Advisors.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Brighthouse Financial: Brighthouse Financial is a direct peer focused primarily on annuity products (variable, fixed, index, and income) and life insurance. Its specialized concentration in annuities makes it one of the closest pure-play comparables to Equitable's variable annuity franchise, including the Structured Capital Strategies product line.
• Jackson Financial: Jackson Financial is a direct peer specializing in retirement products and annuities, particularly variable annuities with guaranteed living benefits. It is a focused competitor to Equitable's Structured Capital Strategies and broader annuity franchise.
• Prudential Financial: Prudential Financial is a direct peer with comparable U.S. retirement strategies, individual life insurance, group insurance, and investment management businesses. The two firms compete directly in the U.S. retirement and protection market and overlap in individual variable annuity product offerings.
• Corebridge Financial: Corebridge Financial (formerly AIG's Life & Retirement segment) is a direct peer and pending merger partner, offering individual retirement annuities, life insurance, and group retirement products. It is the most directly comparable given identical product mix, distribution model, and customer segments — and is the explicit counterparty in the announced $22B all-stock merger.
• Lincoln National Corporation: Lincoln Financial is a direct peer operating in the same life insurance, annuities (variable and fixed), and retirement plan segments, with similar distribution through financial professionals. Its product mix in variable annuities and group retirement is highly comparable to Equitable's core offerings.
• MetLife: MetLife is a direct peer with overlapping life insurance, annuities, retirement planning, and group benefits product lines, plus a U.S. retail distribution footprint through MetLife Advisors. It is also a strategic partner via the $700M Octane forward-flow facility, making it a competitor and collaborator simultaneously.
• Voya Financial: Voya Financial is a direct peer with strong overlap in retirement plans (401(k)/403(b)), individual life insurance, and investment management, with similar workplace distribution and pooled employer plan capabilities. It competes directly with Equitable's workplace retirement segment.

Others

• LPL Financial: LPL Financial is an adjacent partner/distributor peer — it operates the Model Wealth Portfolios platform that hosts Equitable Investment Management's 12 model portfolio strategies. As the largest independent broker-dealer in the U.S., it is also a competitive channel for wealth management distribution, with structural ties to Equitable's investment management product set.

Broad incumbents

• Northwestern Mutual: Northwestern Mutual is a broad incumbent peer with a leading individual life insurance franchise, disability income, and wealth management through a captive financial advisor network. Its scale, brand legacy, and integrated planning model are comparable to Equitable's broader insurance-plus-wealth platform.
• New York Life: New York Life is a broad incumbent peer operating across life insurance, retirement income, and wealth management, with a mutual structure and extensive captive agent network. It is also a strategic partner through the $700M Octane forward-flow facility alongside MetLife and Equitable.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/equitable
• Xx.com/EquitableFin
• Facebookfacebook.com/EquitableFinancial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments1 record

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

Frequently asked questions about Equitable