Additional menu

Voya Investment Management Review

Voya Investment Management is a large advisory firm with over $230 billion AUM. This page reviews its services and fee structures.

A subsidiary of Voya Financial, Voya Investment Management is a registered investment advisor (RIA) firm that manages portfolios for both individual and institutional investors. The company also offers various investment vehicles, including mutual funds, closed-end funds (CEFs), and a 529 plan.

In this article, we’ll review Voya’s financial advisor services, including a close look at its types of clients and fee structures. We’ll also explain how to open an account and contact customer service, as well as highlight the disclosures on the firm’s Form ADV.

Assets Under Management

$236.709 billion

Number of Employees

880

Date Founded

1991

CEO

Christine Hurtsellers, CFA

Fee Structure

Fee-based

Headquarters Address

230 Park Avenue

New York, NY 10169

Phone Number

(800) 992-0180

Pros and Cons of Voya Investment Management

Pros

  • Offers both discretionary and non-discretionary portfolio management
  • Transparent and detailed investment philosophy
  • Uses ESG factors in its investment strategies
  • Upholds a fiduciary duty

Cons

  • Doesn’t specify account minimums for individual clients
  • Doesn’t offer financial planning
  • Potential conflicts of interest

Match with vetted fiduciary advisors in your area. Answer a few questions to begin.

Types of Clients

Voya serves both wealthy and average-net-worth individual investors. It also offers advisory services to institutional investors, including investment companies, pooled investment vehicles, charitable organizations, and pension and profit-sharing plans.

Voya requires both retail and institutional clients to meet an account minimum before opening an account and enrolling in any of its programs. Based on the product, institutional clients must have at least $25 million to $100 million. The company doesn’t list a specific account minimum for individual clients on its website or client-facing brochure. Despite this, it notes that minimums are negotiable and that it can change or waive them at its discretion.

Financial Advisor Services

Voya Investment Management primarily offers portfolio management on both a discretionary and non-discretionary basis. As a client, you can access its programs via a wrap fee program through a separate brokerage account or retirement plan or by working directly with the company.

According to Voya’s Form ADV Part 2A, you’ll be able to choose a specific investment strategy. This may include one primarily focused on either equities or fixed-income assets, or it may comprise a mix of different asset classes.

Under a discretionary model, the company will have the authority to make trades within your account based on your goals and risk tolerance. Your manager won’t need your approval before making decisions in your account. On the other hand, with a non-discretionary account, your advisor will still be able to make trades in your account, but only after you sign off. They’ll have to get your approval each time a decision must take place.

Fee Structure

Voya charges clients based on a percentage of the dollar amount of their assets under management (AUM). In general, this is quarterly and considers the value of your assets at the end of the quarter. Per the company, however, it’s possible to set up other payment options, such as a flat fee schedule.

Fees can vary depending on several factors, including your investment strategy. Often, you can find the exact rates you’ll end up paying in your advisory agreement or fund prospectus; however, the firm offers ranges for certain strategies.

The table below breaks down the percentages to expect from the company for specific investment strategies:

StrategyPercentage of AUM
Equity0.15 to 0.90
Fixed income0.20 to 1.00
Multi-asset0.10 to 1.00

The fees you see will also depend on your type of account. If enrolled in a wrap fee program, you can expect to pay a yearly fee of 0.125% to 1.00%. Because it’s a wrap fee set-up, you’ll also be responsible for additional costs, such as brokerage, management, and trading fees.

Investment Philosophy

Voya explains several core elements of its investment philosophy on its website and company overview materials. One of the most prominent is its attention to ESG (environmental, social, and corporate governance) factors. By including this as a focal point, the company says it can enhance its research, construct more stable portfolios, and help the planet and society.

In its Form ADV, Voya also offers detailed information about its research methods. Specifically, it provides an overview of how the firm approaches each investment strategy, from equity to cash management. It also addresses the risk of loss as a real threat, going so far as to list and explain nearly every potential danger to your account. This displays a strong level of transparency, especially for a company that manages client accounts on a discretionary level.

Disclosures

As an RIA with the U.S. Securities and Exchange Commission (SEC), Voya Investment Management Co. LLC must make its disciplinary history, such as arbitrations and criminal proceedings, available to the public. On a company’s Form ADV, these appear as disclosures.

According to the firm’s most recent filing with the SEC, Voya hasn’t received any glaring discipline from the SEC. The only exception is that, on its Form ADV, the firm checked “yes” on a box that asks if a regulatory authority has, “in the past ten years, entered an order against [it] or any advisory affiliate in connection with an investment-related activity.”

Customer Service and Becoming a Client

The best way to get in touch with Voya is to visit the company’s contact page on its website. Once there, you’ll be able to use the form to send a message to the firm, as well as view ways to reach customer service by phone or mail.

To open an account with Voya Investment Management, you’ll need to fill out the form either on the “individual investors” homepage at the bottom or on the contact page. Then, a representative at the firm should get back to you on your next steps.

Tips for Choosing a Financial Advisor Firm

There will typically be many options on the table as you choose a financial advisor. Therefore, you’ll need to find the ones that both offer what you’re looking for and serve your best interest. The highest quality ones are those that uphold a fiduciary duty and employ professionals with designations such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), and Chartered Financial Consultant (ChFC).

It’s also important to find a company that offers services to clients with your net worth. That is, do they have account minimums you could meet? If not, you won’t be able to work with that firm and may need to look elsewhere.

To get started on your search for an advisor, we recommend comparing firms and experts to find the one that suits you. Using a matching tool, such as this one, is a good starting point. After answering a few questions, you’ll get a list of up to three vetted professionals near you.

Methodology

This review is based on publicly available information directly from Voya Investment Management’s website and the SEC. Neither the firm nor its representatives have any say on what we’ve included on this page.

Frequently Asked Questions

Is Voya Investment Management a fiduciary?

As a firm registered with the SEC, Voya must carry out a fiduciary duty. Because of this, it must keep your best interests in mind, avoid conflicts of interest, and alert you if one arises. In its Form CRS, the firm makes it clear that it and some of its employees may receive incentivized compensation for recommending certain products, creating potential conflicts.

Is Voya Investment Management a reputable company?

By volume of AUM, Voya is one of the largest and most successful asset management firms in the country. This also means that it has lots of clients that depend on it to manage and invest their portfolios. The company also seems to have a strong set of values, especially through its use of ESG factors in its strategies.

Based on its accolades, Voya seems to do right by its employees. As recently as October 2023, it held the Great Place to Work Certification. In 2022, the company was also ranked as one of the best places to work for LGBTQ+ equality by the Human Rights Campaign (HRC) Foundation.

Does Voya Investment Management offer financial planning?

Voya doesn’t include financial planning services as part of its investment management division. Currently, it exclusively offers non-discretionary and discretionary portfolio management.

Find a Financial Advisor

Take our quiz and be matched with up to 3 vetted fiduciary financial advisors serving your area. It's fast, free, and no-obligation.

Compare Vetted Advisors