Voya 2014 Annual Report Download - page 37

•Independent Producers. Wirehouse and independent producers are the primary distributors of our
small-mid corporate market products, but they also distribute products to the education, healthcare and
government markets. These producers typically present their clients (i.e., employers seeking a defined
contribution plan for their employees) with plan options from multiple vendors for comparison.
•TPAs . We have long-standing relationships with TPAs who are selling and/or service partners for our
small-mid corporate markets business, working with a variety of vendors. While TPAs typically focus
on providing plan services only (such as administration and compliance testing), some also initiate and
complete the sales process. TPAs also play a vital role as the connecting point between our wholesale
team and unaffiliated producers who seek references for determining which providers they should
recommend to their clients.
Affiliated Distribution:
•Affiliated Representatives. Voya Financial Advisors, our retail broker-dealer, is one of the top twelve
broker-dealers in the United States as determined by total number of licensed and producing
representatives. As of December 31, 2014, we had over 2,200 affiliated representatives. These
representatives support sales of products for the Retirement segment as well as other segments, with a
subset that are primarily focused on driving new and existing sales in education, healthcare and
government market plans (full service) through increasing enrollments for existing plans, educating
existing participants and selling new plans.
•Direct Sold by Field Force. While we typically rely on third-party distribution partners for the majority
of sales for our Institutional Retirement Plans business, certain members of our wholesale team also
interact directly with plan sponsors in the education, healthcare and government markets. Typically,
this direct interaction is with a consultant hired by the plan sponsor. In order to present our offerings to
these large plan clients, we work with various consultants focused on these markets.
•Direct Sold by Dedicated Voya Sales Teams. We have sales teams that work directly with large plan
corporate market, stable value and pension risk transfer clients. The stable value investment only
business and pension risk transfer solutions can occur in either recordkeeping only plans or within
other vendors’ plans. In the large corporate market and for our stable value products, the majority of
our direct interaction occurs with consulting firms focused on this market.
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