Voya Financial to Acquire OneAmerica Financial Retirement Plan Business

Voya Financial to Acquire Benefitfocus

November 2, 2022

Cloud & SaaS

Voya Financial has entered into a definitive agreement to acquire Benefitfocus in an all-cash transaction valued at approximately $570 million, including Benefitfocus debt and outstanding preferred shares. Under the terms, Voya will purchase all outstanding shares of Benefitfocus common stock for $10.50 per share, with the deal expected to close in the first quarter of 2023.

Cetera Financial Group Acquires Voya Financial Advisors' Independent Financial Planning Channel

June 9, 2021

Financial Services

Cetera Financial Group completed the acquisition of certain assets related to the independent financial planning channel of Voya Financial Advisors, creating a new business, Cetera Wealth Partners, with approximately $37 billion of assets under administration. The deal retained the channel's management team and more than 90% of its financial professionals (and over 93% of the assets under administration), and brought over 130 employees from Voya to Cetera.

Voya Financial Acquires Benefit Strategies, LLC

May 10, 2021

Financial Services

Voya Financial, Inc. has acquired Benefit Strategies, LLC, a third-party administrator of HSAs, FSAs, HRAs, COBRA and related workplace benefits. The acquisition (closed July 2021) adds roughly 150 employees, ~3,400 employer clients and nearly 370,000 participant accounts to Voya, strengthening its workplace health savings and spending account capabilities.

OneDigital Investment Advisors Acquires Silicon Valley Retirement Services

January 1, 2026

Financial Services

OneDigital Investment Advisors announced it has acquired Silicon Valley Retirement Services, a San Jose-based independent retirement services firm. The transaction adds more than $1.4 billion in assets under advisement and is intended to expand OneDigital’s retirement capabilities across the West region.

Simplicity Group to Acquire RetireOne

October 13, 2025

Financial Services

Simplicity Group entered into a definitive agreement to acquire RetireOne, an independent outsourced insurance desk and fee-based insurance solutions platform. RetireOne will operate as “Simplicity OID,” expanding Simplicity’s suite of insurance offerings for financial institution clients while allowing different revenue models at closing.

Empower Acquires Prudential Financial's Full-Service Retirement Business

April 4, 2022

Financial Services

Empower has completed its $3.5 billion acquisition of Prudential Financial’s full-service retirement business, adding more than 1,800 employees and expanding Empower’s reach to over 17.1 million retirement participants with roughly $1.4 trillion in assets under administration. The deal transfers Prudential’s defined contribution, defined benefit, non‑qualified and rollover IRA business as well as stable value and separate account investment products and platforms to Empower, broadening Empower’s product set and scale across employer, government and not‑for‑profit retirement markets.