Voya Financial Advisors
Voya Financial Advisors is the workplace benefits distribution arm of Voya Financial (NYSE: VOYA), offering integrated HSAs, supplemental health insurance, and retirement savings plans to U.S. employers via financial professionals and direct engagement.
- Company typePublic
- Founded2014
- HeadquartersNew York, United States
- Headcount—
- GTM typeB2B
- OfferingServices
What Voya Financial Advisors does
Voya Financial Advisors is the workplace benefits distribution and integrated platform arm of Voya Financial (NYSE: VOYA), serving U.S. plan sponsors and their employees through a B2B2C model that combines direct employer engagement with a network of financial professionals. The company offers a configurable workplace benefits platform spanning Health Savings Accounts (HSAs), supplemental health insurance (hospital indemnity, accident, critical illness), and retirement savings plans (401(k) and similar defined contribution arrangements), with the myVoyage Personalized Enrollment Guidance tool providing hyper-personalized decision support to employees.
The underlying technology centers on a digital workplace benefits platform designed to synchronize health benefits and retirement savings for end users, anchored by the myVoyage tool launched in May 2023 and recognized as a Fast Company World Changing Ideas Awards finalist. Insurance products are issued through two wholly-owned carrier subsidiaries — ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY) — with Voya Employee Benefits functioning as a division of both. The technology differentiation claim is ease-of-use and personalization rather than disclosed AI/ML architecture.
Voya generates revenue through three primary recurring streams: insurance premiums (supplemental health products), retirement savings plan administration and management fees, and HSA administration services. Pricing is quote-based and not publicly disclosed, with contracts structured per employer and plan configuration. The company targets employers ranging from startups to government entities to mega corporations and is positioned as a top-five provider of retirement products and services (Pensions & Investments, May 2025) and a leader in U.S. group employee benefits (LIMRA 4Q 2024).
Voya Financial Advisors firmographics
Firmographics- Name
- Voya Financial Advisors
- Legal name
- Voya Financial Advisors
- Website
- https://forprofessionals.voya.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Short description
- Voya Financial Advisors is the workplace benefits distribution arm of Voya Financial (NYSE: VOYA), offering integrated HSAs, supplemental health insurance, and retirement savings plans to U.S. employers via financial professionals and direct engagement.
- Ownership category
- akta.pro rank
Voya Financial Advisors industry classification
Industry- Product category
- Workplace Benefits and Retirement Services
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Pension Funds (52511), Health and Welfare Funds (525120)
- SIC
- Investment Advice (6282), Life Insurance (6311), Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)
- akta.pro primary industry
- Corporate Retirement Plan Advisory RIAs (ERISA 401(k)/403(b)) (FSAAACAF)
- akta.pro secondary industries
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK), Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE), Worksite Financial Wellness & Employee Assistance Programs (EAP) (FSAIAMAN), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)
Keywords
Where Voya Financial Advisors is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Voya Financial Advisors business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Insurance Premiums: Insurance products are issued by ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York, both part of the Voya family of companies. Revenue generated through insurance premiums for supplemental health insurance products.
- Retirement Savings Plan Management: As a top-five provider of retirement products and services, Voya generates revenue through retirement savings plan administration, management fees, and related retirement services for plan sponsors.
- Health Savings Account (HSA) Services: Revenue generated from HSA administration and management services for employers offering consumer-directed health plans.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
Voya Financial Advisors product offering
Product offeringCore offering
Voya Financial Advisors provides configurable workplace benefits solutions to plan sponsors and their employees, including Health Savings Accounts (HSAs), supplemental health insurance (hospital indemnity, accident, critical illness), and employer-sponsored retirement savings plans such as 401(k)/defined contribution arrangements. The offering is delivered through an award-winning hyper-personalized digital platform supported by the myVoyage Personalized Enrollment Guidance tool, enabling employees to synchronize health benefits and retirement savings selection and management. Insurance products are issued by ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York, both wholly-owned members of the Voya family of companies.
Product overview
Voya Financial Advisors offers a platform-based approach to workplace benefits and retirement services. The core offering consists of an integrated workplace benefits platform that combines health savings accounts (HSA), supplemental health insurance, and retirement savings plans. The portfolio includes the myVoyage Personalized Enrollment Guidance tool, a hyper-personalized enrollment guidance sub-product that helps employees navigate benefit selection. Voya is positioned as a top-five provider of retirement products and services and a leader in group employee benefits in the U.S. Insurance products are issued through ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York, both members of the Voya family of companies.
Differentiator
Problem solved
Functional benefit
Products and services
- Health Savings Account (HSA)
Companies that use Voya Financial Advisors
Customer profileSegments2 records
Ideal customer profiles2 records
Voya Financial Advisors technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Voya Financial Advisors partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ReliaStar Life Insurance CompanycoreReliaStar Life Insurance Company (Minneapolis, MN) is a member of the Voya family of companies and issues insurance products as part of Voya Employee Benefits. Both companies operate together to deliver group employee benefits and retirement savings solutions.
Scale indicators4 records
Recent moves4 records
Expansion highlights3 records
Voya Financial Advisors competitors and assessment
Company assessmentDirect peers
- Fidelity Workplace Investing: Fidelity's workplace retirement business is the largest DC recordkeeper in the U.S., competing head-to-head with Voya on 401(k), HSA, and integrated benefits platform mandates.
- Principal Financial Group: Direct competitor in employer-sponsored retirement plans and group benefits, with overlapping HSA, supplemental health, and retirement product suites for plan sponsors of all sizes.
- Lincoln Financial Group: Competes in employer-sponsored retirement (401(k), annuities) and group supplemental benefits, with a similar focus on financial-professional distribution channels.
- Empower Retirement: One of the largest U.S. defined-contribution recordkeepers and retirement plan administrators, directly competing with Voya for plan-sponsor mandates across the same participant-size segments.
- T. Rowe Price Retirement Plan Services: T. Rowe Price's retirement recordkeeping business competes for mid-to-large 401(k) plans, with overlapping target segments and DC participant services.
- Schwab Retirement Plan Services: Charles Schwab's retirement plan services unit competes on 401(k) recordkeeping for mid-market and large plan sponsors, with a low-cost positioning similar to where Voya competes.
- Vanguard Retirement Plan Services: Vanguard competes directly in DC recordkeeping with a low-fee model, pressuring industry pricing and competing for the same plan-sponsor RFPs as Voya.
- Prudential Retirement Strategies: Prudential's workplace retirement and group insurance division competes directly with Voya on retirement recordkeeping, group life, and supplemental health for plan sponsors.
- Nationwide Retirement Solutions: Nationwide competes in employer-sponsored retirement plans (defined contribution, public-sector 457) and group supplemental benefits, overlapping Voya's mid-market plan-sponsor focus.
Broad incumbents
- MetLife Group Benefits: Broader incumbent in group benefits (life, disability, dental) with an expanding retirement and voluntary benefits franchise, competing with Voya across multiple product lines.
Market position
Strengths1 record
Weaknesses1 record
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Voya Financial Advisors social profiles
Digital presenceVoya Financial Advisors compliance and trust
Trust signalCompliance1 record
Voya Financial Advisors financial estimates
Financial estimateRevenue estimate
Valuation estimate
Voya Financial Advisors leadership team
Management profileNumber of profiles
Voya Financial Advisors subsidiaries and ownership
Company hierarchySubsidiaries2 records
Voya Financial Advisors funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Voya Financial Advisors M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Voya Financial Advisors
What does Voya Financial Advisors do?
Voya Financial Advisors provides configurable workplace benefits solutions to plan sponsors and their employees, including Health Savings Accounts (HSAs), supplemental health insurance (hospital indemnity, accident, critical illness), and employer-sponsored retirement savings plans such as 401(k)/defined contribution arrangements. The offering is delivered through an award-winning hyper-personalized digital platform supported by the myVoyage Personalized Enrollment Guidance tool, enabling employees to synchronize health benefits and retirement savings selection and management. Insurance products are issued by ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York, both wholly-owned members of the Voya family of companies.
Is Voya Financial Advisors a public or private company?
Voya Financial Advisors is a public company. It is classified as public and is currently operating.
When was Voya Financial Advisors founded?
Voya Financial Advisors was founded in 2014.
Where is Voya Financial Advisors based?
Voya Financial Advisors is headquartered in New York, United States, in the North America region.
How does Voya Financial Advisors make money?
Three revenue lines are on record. Insurance Premiums are the primary driver. The others are retirement Savings Plan Management and health Savings Account (HSA) Services.
Who are Voya Financial Advisors's main competitors?
Direct peers on record are Fidelity Workplace Investing, Principal Financial Group, Lincoln Financial Group, Empower Retirement, T. Rowe Price Retirement Plan Services, Schwab Retirement Plan Services, Vanguard Retirement Plan Services, Prudential Retirement Strategies and Nationwide Retirement Solutions. MetLife Group Benefits is listed as a broad incumbent.
Does Voya Financial Advisors have an API?
No public API is recorded for Voya Financial Advisors.
What industry is Voya Financial Advisors in?
Voya Financial Advisors's product category is Workplace Benefits and Retirement Services. Its primary akta.pro industry code is FSAAACAF, Corporate Retirement Plan Advisory RIAs (ERISA 401(k)/403(b)), with a secondary code of HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA). Its NAICS code is 52411 and its SIC code is 6282.