John Hancock Personal Financial Services, LLC (2022)

CRD#174433

Investment Advisor Firm

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Overview

John Hancock Personal Financial Services, LLC is an advisory company based in Boston, Massachusetts. The company manages $2.2 billion in assets across 23,843 accounts, making it one of the largest investment advisory firms in the United States by assets under management (AUM). John Hancock Personal Financial Services, LLC has a large team, including 10 financial advisors. John Hancock Personal Financial Services, LLC is not a registered broker-dealer, signifying that the company is not able to buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer firm to do so. Securities are exchangable financial investments like bonds, equities and options.

John Hancock Personal Financial Services, LLC manages all of its client assets in a discretionary manner. Discretionary management is a structure in which buy and sell decisions are made by a portfolio manager without requiring client permission. The advisory firm oversees roughly $91,123 in assets for every client account. The average advisor at John Hancock Personal Financial Services, LLC manages around 2,384 client accounts.

The company's central office is located at 200 Berkeley Street, Boston, Massachusetts 2116. The company is allowed to provide services to customers throughout 51 U.S. states and territories.

Assets Under Management

$2.2 billion

Number of Advisors

10

Disclosures

No

Office Location

200 Berkeley Street

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Boston, MA 02116

John Hancock Personal Financial Services, LLC by the Numbers

John Hancock Personal Financial Services, LLC (2)

Total Number of Employees

154

National Average: 71,771

John Hancock Personal Financial Services, LLC (3)

Total Number of Accounts

23,843

National Average: 4,329

John Hancock Personal Financial Services, LLC (4)

Average Account Size

$91.1 thousand

National Average: $2.1 million

(Video) John Hancock: A Guide to Your Retirement Plan

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Products and Services

John Hancock Personal Financial Services, LLC offers a number of financial services, including financial planning services, portfolio management for individuals and small businesses and educational seminars. In the last fiscal year, John Hancock Personal Financial Services, LLC provided 101-250 of its clients with financial planning services. John Hancock Personal Financial Services, LLC is not engaged in selling products or offering services other than investment advice to its investment advisory accounts. The company is also affiliated with a number of other service providers in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency, pension consultant and commodity pool advisor.

Core Advisor Services

  • Offered by 31% of firms

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 47% of firms

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

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Fee Structure

Fees charged by financial advisors typically are based on the financial services provided. However, fees billed by the company can include the following fee structures: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are provided by the company.

Available

  • Offered by 70% of firms

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 21% of firms

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 33% of firms

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 1% of firms that offer this fee type

    Show Explanation

    (Video) The benefits of a John Hancock Vitality life insurance policy

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 10% of firms that offer this fee type

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

It provides services to retail investors and high net worth investors. Out of its 23,843 customers, John Hancock Personal Financial Services, LLC's biggest client type is retail investors, but it also manages money for 271 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 under management or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's accounts are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 1.14%
  • Other Individuals - 98.86%
  • Corporations - 0%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

John Hancock Personal Financial Services, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at John Hancock Personal Financial Services, LLC

Maria Wilczewski
Boston, MA

(Video) Hancock's John Hancock

James Ogrady
Lynnfield, MA

Stephen Campagnone
Boston, MA

Allen Sawyer
Boston, MA

Connor Spiro
Boston, MA

Paul Guglielmo
Boston, MA

John Kurtak
Boston, MA

Joel Berry
Boston, MA

James Novello
Boston, MA

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The content in this profile was updated by SmartAsset on 04/01/2022 using publicly available data compiled from the SEC and FINRA. To report any data inconsistencies or errors, please contact profile-compliance@smartasset.com.

The named financial professional and firm have not reviewed, approved, or endorsed this profile and are not responsible for its accuracy. Profile content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named financial professional and firm, and financial professionals and firms having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s profiles.

This profile may include a firm or advisor that has a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. SmartAsset is not a client of the aforementioned firms or advisors. SmartAsset did not receive compensation for including any of the firms or advisors in the aforementioned profile.

This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the advisor or firm mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).

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Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

FAQs

Is John Hancock the same as Manulife? ›

Manulife is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere.

Who owns John Hancock Annuities? ›

John Hancock Financial is a subsidiary of Manulife Financial, one of the largest and strongest global insurance companies in the world. Manulife Financial's strength comes from its diversity of operations, solid market positions and strong management.

Who owns John Hancock? ›

John Hancock Financial

What does Hancock sell? ›

John Hancock offers both term and universal life insurance. The term policy has extremely high coverage limits (up to $65 million) and term durations between 10 and 30 years.

Does Bank of America own John Hancock? ›

In 2004, John Hancock was acquired by the multinational life insurance company Manulife Financial. It operates as an independent subsidiary. The company and the majority of Manulife's U.S. assets continue to operate under the John Hancock name.

Which bank owns Manulife? ›

Manulife Bank is a wholly owned subsidiary of The Manufacturers Life Insurance Company and was the first federally regulated bank opened by an insurance company in Canada.

How do I withdraw money from my John Hancock annuity? ›

You can call us at 800-344-1029 to enroll in phone withdrawal authorization and elect to take a withdrawal. You can also complete this form entirely online. Visit the forms page at johnhancock.com/annuities. Find the Withdrawal request (IRA and nonqualified) form.

How do I surrender my John Hancock annuity? ›

You can also call 1-800-344-1029 to withdraw funds under $100,000 if you have telephone withdrawal authorization on file. Use this form to request a full surrender or a partial withdrawal from a qualified annuity contract.

Is John Hancock Life insurance a company or corporation? ›

John Hancock Life Insurance Company (USA) / Manulife Financial Corporation.

How does Hancock make money? ›

1. Hancock was a wealthy guy. He was from Massachusetts and his family had money, which he inherited when his uncle died. In fact, Hancock may have been the richest man in New England when he inherited a shipping fortune.

What kind of company is John Hancock? ›

John Hancock Life Insurance Company (U.S.A.) provides insurance and financial services. The Company offers life insurance, mutual funds, college savings, long term care, retirement plan services, and institutional investment products. John Hancock Life Insurance serves customers in the United States.

How do I contact John Hancock 401k? ›

If you're a participant in a 401k and need help, a representative in our Participant Service Center can assist you.
  1. If you have a contract number or are calling about a 401(k) plan with under 200 employees: 800-395-1113.
  2. If you work for a company with more than 200 employees: 800-294-3575.

How is Hancock rated? ›

John Hancock earned 4 stars out of 5 for overall performance. NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account consumer experience, complaint data from the National Association of Insurance Commissioners and financial strength ratings.

What made Hancock famous? ›

As president of the Continental Congress, Hancock is credited as the first signer of the Declaration of Independence. His prominent, stylish signature became famous. (According to legend, Hancock boldly inscribed his name so the English king would not need glasses to read it.)

Who bought out Bank of America? ›

Bank of America, in full Bank of America Corporation, one of the largest banking and financial services corporations in the United States. It was formed through NationsBank's acquisition of BankAmerica in 1998.

Which banks are affiliated with Bank of America? ›

Bank of America Corporation affiliates include all entities that utilize the Bank of America, Banc of America, Bank of America Private Bank, Balboa and Merrill Lynch brand names.

Is US bank affiliated with Bank of America? ›

No, U.S. Bank is not part of Bank of America. U.S. Bank and Bank of America are two separate publicly traded companies, and they occupy two of the top 10 spots among the largest banks in the United States by total assets. They are not affiliated in any way.

Is Manulife Bank Safe? ›

Manulife Bank of Canada and Manulife Trust Company are members of the Canada Deposit Insurance Corporation(CDIC). That means your eligible deposits with us are insured up to a maximum of $100,000 (principal and interest combined) in each of eight categories.

Who owns the bank of Canada? ›

The Bank of Canada is a special type of Crown corporation, owned by the federal government, but with considerable independence to carry out its responsibilities.

When did Manulife buy John Hancock? ›

Manulife acquired Boston-based John Hancock, one of the biggest life insurers in the United States, for C$15 billion ($12 billion) in 2004 in a deal that doubled the size of the Canadian insurer.

How can I get money from my annuity without penalty? ›

The most clear-cut way to withdraw money from an annuity without penalty is to wait until the surrender period expires. If your contract includes a free withdrawal provision, take only what's allowed each year, usually 10%.

Can I make a partial withdrawal from my retirement annuity? ›

You are allowed one full or partial withdrawal from your preservation fund before retirement. The earliest retirement date is usually 55, although this is subject to the fund rules. These issues are important because they determine if you can a) make another withdrawal and b) the tax thereon.

How long does it take to get 401k withdrawal direct deposit? ›

Depending on your bank, a 401(k) loan direct deposit will take about two or three business days for the funds to reach your bank account. Before going through the 401(k) loan process, talk to your plan's administrator to figure out the quickest and most efficient way to get a 401(k) loan.

How long does it take to get money from John Hancock? ›

Electronic funds transfer (EFT): The distributions will arrive in your financial institution account within 3–5 business days. If John Hancock does not have your EFT instructions on file, in good order with a Medallion Signature Guarantee (MSG), your distributions will be sent to your address of record by regular mail.

How does a John Hancock annuity work? ›

Fixed annuity: A fixed annuity provides income that is guaranteed to last as long as the payout period you elect, subject to the claims-paying ability of the issuing insurance company. It Gains value by receiving a guaranteed fixed interest rate. Not subject to market fluctuation.

What is income Plus For Life? ›

The Income Plus For Life rider and Income Plus For Life—Joint Life rider (IPFL rider) offer a guaranteed income stream from. your annuity that will not decrease due to market volatility.

Can I borrow money from my John Hancock 401k? ›

How a 401(k) loan works. If your plan allows it, you may be able to borrow up to 50% of your vested balance—that's 50% of the portion of your account that's yours, without conditions. You'll repay this amount, plus interest, back into your 401(k) account over time through payroll deduction.

Why is it called John Hancock? ›

Named after American merchant and statesman John Hancock (1737–1793), the first person to sign the United States Declaration of Independence. According to legend, he signed his name prominently to be sure George III could read it, causing his name to become an eponym for a signature.

What is the meaning of John Hancock? ›

John Hancock in American English

Informal. a person's signature. so called because John Hancock's signature on the Declaration of Independence is large and bold.

What was John Hancock accused of? ›

His business became a political flashpoint in 1768, when British customs officials seized one of his sloops, the Liberty. The customs agents accused Hancock of smuggling and, after a highly publicized trial, the charges were dropped without explanation, likely due to lack of evidence.

Why was Hancock important? ›

John Hancock, (born January 12, 1737, Braintree (now in Quincy), Massachusetts—died October 8, 1793, Quincy, Massachusetts, U.S.), American statesman who was a leading figure during the Revolutionary War and the first signer of the U.S. Declaration of Independence.

Who defended John Hancock in the smuggling trial? ›

Hancock was one of the wealthiest shipping merchants in the country. [3] He had been accused by the British Empire of conspiring to unload goods from his commercial vessel without payment of duties. His trial attorney was John Adams.

How strong is John Hancock? ›

Powers and Abilities. Superhuman Strength: Hancock possesses incredible superhuman strength, he easily throws a beached full grown blue whale (approximate weight 190 tons) a great distance back into the ocean and used his nails to cut a metal disk.

Does Hancock offer mutual funds? ›

In addition to mutual funds, John Hancock manages 529 college savings plan strategies and closed-end funds.

Who acquired John Hancock? ›

TORONTO – Manulife Financial Corporation and John Hancock Financial Services, Inc., including its Canadian subsidiary, The Maritime Life Assurance Company, today completed their merger after receiving all necessary regulatory approvals. John Hancock is now a subsidiary of Manulife Financial.

Who can I contact about my 401k? ›

Questions Concerning Your Benefits

Or find addresses and telephone numbers for the EBSA Office in your area or call toll free 1-866-444-3272 to speak with a benefits advisor.

What is the phone number for 401k? ›

Call 1-877-4WF-IRAS (1-877-493-4727) to speak to a Retirement Specialist today.

Why can't I log into my John Hancock account? ›

You may have been disconnected either because your visit (session) expired. As a security precaution, we automatically log you out of your account only if you are idle for 15 minutes. To access your account again, simply log back in. You may also have been logged out due to lost internet connection.

How do I find my John Hancock life insurance policy? ›

For more information, please contact the company at JohnHancock.com or via telephone at 888-333-2659.

How do I find my John Hancock contract number? ›

Login to your account and click the "My Contract" tab on the left navigation menu. This will bring you to the Contract Details page which provides you with all the following information: Your present and past contract value and portfolio values.

What is the death benefit for LTC? ›

The Long-Term Care (LTC) rider is an accelerated death benefit rider. The maximum monthly benefit amount is $50,000. When the death benefit is accelerated for long-term care expenses, it is reduced dollar for dollar, and the cash value is reduced proportionately.

What is a famous quote from John Hancock? ›

"We must be unanimous; there must be no pulling different ways; we must hang together." - John Hancock.

What Bill is John Hancock? ›

1788: John Hancock Proposing the Addition of the Bill of Rights to the Federal Constitution. Oil on canvas, 110 x 130 in. Gift of the artist and his son, Governor Christian Herter. Unveiled December 16, 1942.

Who signed their name the largest on the Declaration of Independence? ›

7) Who has the largest signature on the Declaration of Independence? Answer: C. John Hancock, the president of the Continental Congress, has the largest signature on the Declaration of Independence.

Is Manulife selling John Hancock? ›

Exclusive: Manulife mulls U.S. asset sales, rejects John Hancock IPO - sources | Reuters.

Who acquired John Hancock? ›

TORONTO – Manulife Financial Corporation and John Hancock Financial Services, Inc., including its Canadian subsidiary, The Maritime Life Assurance Company, today completed their merger after receiving all necessary regulatory approvals. John Hancock is now a subsidiary of Manulife Financial.

When was Hancock demutualized? ›

John Hancock Mutual Life Insurance Company - John Hancock Mutual Life demutualized on November 30, 1999, and was renamed John Hancock Life Insurance Company, a wholly-owned subsidiary of John Hancock Financial Services, Inc.

Is Manulife still in business? ›

The company operates in Canada and Asia as "Manulife" and in the United States primarily through its John Hancock Financial division. As of December 2021, the company employed approximately 38,000 people and had 119,000 agents under contract, and has CA$1.4 trillion in assets under management and administration.

Why is Obatan LLC buying Manulife? ›

Lindborg, who identified himself as company secretary and outside counsel to Obatan, said in an email that the company had targeted Manulife because it had a large retail investor base, and he framed the offer as a way for shareholders to sell stock with less hassle.

Is Canada Life the same as Manulife? ›

Canada Life acquires the Canadian individual insurance operations of New York Life and the individual insurance operations of Manulife Financial in the United Kingdom.

How do I contact John Hancock 401k? ›

If you're a participant in a 401k and need help, a representative in our Participant Service Center can assist you.
  1. If you have a contract number or are calling about a 401(k) plan with under 200 employees: 800-395-1113.
  2. If you work for a company with more than 200 employees: 800-294-3575.

What kind of company is John Hancock? ›

John Hancock Life Insurance Company (U.S.A.) provides insurance and financial services. The Company offers life insurance, mutual funds, college savings, long term care, retirement plan services, and institutional investment products. John Hancock Life Insurance serves customers in the United States.

Was Transamerica bought out? ›

Aegon N.V., a big Dutch company that has been on a shopping spree in the fiercely competitive life insurance business, said today that it was buying the Transamerica Corporation of San Francisco for $9.7 billion in cash and stock.

Are proceeds from demutualization taxable? ›

How will I be taxed on my demutualization benefits? If you receive a share, there is no immediate tax consequence. The adjusted cost base of the share is zero. However, when you sell or dispose of the share, you may have a capital gain.

What is demutualization cash? ›

Demutualization involves the complex process of transitioning a company's financial structure, from a mutual company into a shareholder-driven model. Mutual companies (not to be confused with mutual funds) are entities seeded by private investors who are also customers or members of these operations.

What are demutualization proceeds? ›

Demutualization Proceeds means the Net Proceeds received by the Company pursuant to the demutualization of The Prudential Insurance Company of America, including Net Proceeds received by the Company from the sale of shares of capital stock in Prudential Financial, Inc.

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