Equitable(NYSE) EQH

Equitable helps people and businesses plan for their financial future. It makes tools for retirement savings and manages money for clients around the world. These services help individuals protect their families and small businesses offer benefits to workers.

What Equitable Does

• Retirement: Provides annuities and workplace savings plans for individuals and institutions; accounted for $22.4 billion in first year premiums and deposits in 2025.
• Asset Management: Offers global investment services and research through AllianceBernstein to institutional and private wealth clients.
• Wealth Management: Delivers financial advice and planning through a network of 4,600 advisors across more than 80 US locations.
• Protection Solutions: Sells life insurance and employee benefit products like disability and dental coverage to families and small businesses.

Growth and Recent Moves

• Completed a major reinsurance transaction in May 2023 where Equitable Financial moved certain liabilities to its affiliate, Equitable America.
• Formed a joint venture with SocGen in April 2024 to combine equity research and cash trading services for institutional investors.
• Expanded into the Health Savings Account market in 2025 by joining a leading competitor's yield program.
• Established Equitable Investment Management, LLC in 2022 to handle advisory and administrative tasks for its retail mutual funds.

How the Company Stands Out

The company operates a "flywheel" model where its wealth advisors, asset managers, and insurance units work together to keep client assets within the business. It maintains a large distribution network including 180 internal wholesalers and thousands of independent financial professionals across the United States.

The Scorecard

• Revenue reached $3.3 billion in Q4 2025, down 9.5% from Q4 2024.
• Net income was $215 million in Q4 2025, down 76.1% year-over-year.
• Gross profit rose to $2.9 billion in Q4 2025, an 18.5% increase from the previous year.
• Total assets under management and administration reached $1.1 trillion by the end of 2025.
• Retirement segment net flows were $5.9 billion for the full year of 2025.

Evolution and Future Focus

Equitable has transitioned from a subsidiary of a French insurer to an independent, diversified financial services firm. By integrating advice, investment management, and insurance products, the company has built a business model focused on recurring fee income and long-term client relationships.