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Voya Investment Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Voya Investment Management is the asset management division of Voya Financial, a publicly traded financial, retirement, investment and insurance company. While the Atlanta-based Voya Investment Management primarily serves insurance companies, it has a division called Voya Investment Management Co. that provides investing services to individual investors. This division works with individuals and high-net-worth individuals, as well as a wide range of funds and institutional clients. Voya Investment Management Co. is headquartered in New York City.

In addition to Voya Investment Management, Voya Financial also provides investment advisory services through its national network of financial advisors, which it refers to as Voya Financial Advisors, Inc. This network offers individual portfolio management, model portfolio management, financial planning services and a retirement readiness program.

Voya Investment Management Background

Voya Investment Management Co. was founded in 1972 as Aetna Capital Management, Inc., which later became ING U.S. Investment Management before transitioning to its current name in 2014. The company is part of a large network of financial services companies. Voya Investment Management Co. LLC is a wholly owned subsidiary of Voya Investment Management, a registered investment advisor that mainly provides portfolio management services to insurance companies. That division is in turn a wholly owned subsidiary of Voya Holdings, which is wholly owned by Voya Financial, Inc.

Voya Financial, Inc. became a publicly traded company in 2013, when it began its transition from ING U.S., Inc. The company rebranding wrapped in 2014. Its new name is derived from the word ‘voyage,’ and Voya explains it’s intended to reflect the "journey to financial empowerment."

Voya Investment Management Client Types and Minimum Account Sizes

Voya Investment Management Co. is notable for the diversity of clients it serves. The division is capable of working with:

  • Individuals with less than a high net worth
  • High-net-worth individuals
  • Institutional separate accounts
  • Separately managed accounts
  • Corporate pension and profit-sharing plans
  • 529 plans
  • Charitable institutions
  • Foundations
  • Endowments
  • Municipalities
  • Registered investment companies
  • Private investment funds, or other pooled funds
  • Insurance separate accounts
  • Trust programs
  • Sovereign funds

Voya Investment Management Co. only provides account minimums for its individual institutional client portfolios. The company generally requires an institutional client to invest anywhere from $25 million to $100 million to open and maintain separately managed institutional equity and fixed income portfolios. The minimum varies depending on the specific investment strategy used in a particular portfolio.

It does not offer minimum requirements for its individual investor client portfolios. Voya notes that generally its minimums are open to negotiation.

Services Offered by Voya Investment Management

Voya Investment Management Co. offers its clients a number of investment advisory and investment management services. Strategies it’s capable of managing include equity, fixed income, balanced, private placement, commercial mortgage loan and multi-asset class. The firm provides its portfolio management services through both separately managed accounts and wrap fee accounts.

This particular division of Voya may also provide the following supporting services to certain clients:

  • Portfolio valuation and performance analysis
  • Mortgage loan servicing
  • Assistance with securities accounting and tax analysis
  • Assistance with regulatory inquiries and analysis of existing and proposed statutes and regulations

Voya Investment Management Investment Philosophy

Voya Investment Management Co. takes an active, research-driven approach to investing. On the whole, Voya says that its mission is to "find unrecognized value ahead of consensus." Thus, it looks at investment potential outside of the "consensus view." The firm strives to determine investment opportunities ahead of the curve through proprietary research and analytics focused on finding market inefficiencies. It relies on disciplined investment processes in an effort to increase the likelihood of repeating investment performance.

Like many investment management firms, Voya prefers a long-term horizon. When it builds portfolios, it makes an effort to ensure that they are diversified and consistent with clients' guidelines. Ultimately, Voya says that it’s driven by its clients' needs.

Fees Under Voya Investment Management

Voya typically charges clients for its investment advisory and management services based on a percentage of assets under management. Fees are owed quarterly. Its fees vary based on the strategy used, the size of the client's account and the services provided.

Voya Investment Management Fee Schedule
Strategy Fee Rate
Equity 0.15% - 0.90%
Fixed-Income 0.20% - 1.00%
Multi-Asset Strategies 0.10% - 1.00%

For wrap programs, Voya typically receives an annual fee ranging from 0.125% to 1.00%, with that fee varying based on the program sponsor, account type and the services provided. Fees for funds are provided in each particular fund's prospectus.

In addition to asset-based fees, clients may also bear custody and audit fees, commissions, clearing charges, taxes and transaction costs. Clients may also incur additional costs if Voya invests their assets in a pooled investment vehicle.

What to Watch Out For

Voya Investment Management has a single disclosure listed on its Form ADV. This disclosure relates to an issue where the firm allegedly failed to properly file annual financial statements in Luxembourg.

As part of a large financial company, Voya Investment Management Co. has a number of potential conflicts of interest and affiliations that current and prospective clients should be note. Certain Voya Investment Management Co. employees are also representatives of Voya Investment Distributors, an affiliated broker-dealer. They may earn additional compensation from the sale of funds.

Also bear in mind that Voya Investment Management charges certain qualified clients on a performance fee basis. This may present potential conflicts of interest as it could incentivize a portfolio manager to take greater risks in an effort to increase portfolio performance.

Despite the two arrangements above, the firm abides by fiduciary duty, requiring it act in clients' best interests at all times.

Opening an Account With Voya Investment Management

If you're interested in becoming a client of Voya, you can contact the firm through its website. Simply hover over the "Our Firm" button on the top right corner of the website and click on "Contact Us." From there, you'll be guided to a page with three options, depending on which type of client you are: individual investors, financial advisors and institutional advisors. 

Once you select an option, you'll land on a page where you can find the firm's phone number and mailing address. Voya also provides a form that you can fill out to have the firm reach out to you, instead of vice versa. For this option, you'll simply have to provide your first and last name, email address, phone number and any comments or questions you may have, as well as indicate whether you'd prefer the firm to call or email you.

All information is accurate as of the writing of this article.

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How Long $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.