Voya Financial (VOYA) UBS Financial Services Conference 2026 summary

Key achievements and outlook

• Achieved significant cash generation of $775 million in 2025, with record commercial results in Retirement and Investment Management, reaching $1 trillion in combined assets.

• Retirement business delivered close to 40% margin, surpassing guidance, and added nearly $90 billion in assets, including $60 billion from OneAmerica.

• Strong balance sheet and high cash generation provide flexibility for capital deployment, including $300 million in share repurchases in the first half of 2026.

• Focus remains on consistent cash generation and returning value to shareholders, while maintaining optionality for future acquisitions.

• Expect continued growth in cash generation and commercial momentum into 2026.

Retirement and M&A strategy

• OneAmerica acquisition exceeded revenue and earnings targets, with strong client retention and new capabilities added.

• Positioned as a top five retirement provider, actively seeking disciplined M&A opportunities amid industry consolidation.

• $400 million in excess capital expected by year-end, supporting both share repurchases and potential bolt-on deals.

• Preference for bolt-on acquisitions over large-scale deals, leveraging strong relationships and cultural fit.

• High bar for M&A, with focus on disciplined execution and risk-return balance.

Wealth management and demographic trends

• Wealth management business generates $200 million in revenue, targeting mass affluent and millennial clients within a captive workplace audience.

• Investments in expanding advisor network and digital self-service aim to enhance client engagement and scale.

• Expecting 20%+ returns from wealth management investments, with flexibility to adjust pace as needed.

• Millennials and Gen Z will comprise 100 million workers by 2028-2033, driving inflows and active savings behavior.

• Focus on democratizing access to financial advice and planning for younger generations.