Equitable Holdings, Inc. (EQH): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de los servicios financieros, Equitable Holdings, Inc. (EQH) surge como una potencia estratégica, transformando la gestión de patrimonio tradicional a través de un modelo de negocio innovador que combina sin problemas soluciones financieras personalizadas con plataformas digitales de vanguardia. Al aprovechar un enfoque integral que abarca el seguro de vida, la planificación de la jubilación y los servicios de asesoramiento de inversiones, la EQH se ha posicionado como una empresa con visión de futuro que satisface las diversas necesidades de los clientes mientras se mantiene un ecosistema comercial robusto y adaptable. Su lienzo de modelo de negocio meticulosamente elaborado revela una estrategia sofisticada diseñada para navegar por el complejo mercado financiero con precisión y excelencia centrada en el cliente.

Equitable Holdings, Inc. (EQH) - Modelo de negocio: asociaciones clave

Alianza estratégica con AXA

Equitable Holdings mantiene una asociación estratégica con AXA, una compañía global de servicios financieros. A partir de 2024, la alianza abarca:

Dimensión de asociación	Detalles específicos
Duración de la asociación	En curso desde 2018
Mercados geográficos compartidos	Estados Unidos, Europa, Asia
Activos combinados bajo administración	$ 1.2 billones

Colaboración con asesores financieros y agentes independientes

La red de profesionales financieros de Equitable incluye:

• Aproximadamente 12,500 asesores financieros independientes
• Cobertura de red en 50 estados
• Promedio de la tenencia del asesor de 8.3 años

Ecosistema de asociación tecnológica

Las asociaciones de mejora de la plataforma digital incluyen colaboraciones con:

Socio tecnológico	Área de enfoque	Inversión
Salesforce	Integración CRM	$ 45 millones anuales
Microsoft Azure	Infraestructura en la nube	$ 38 millones anuales
Sistemas de Pega	Automatización de procesos	$ 22 millones anuales

Relaciones de la empresa de gestión de inversiones

Las asociaciones clave de gestión de inversiones incluyen:

• BlackRock - Colaboración de inversiones alternativas
• Vanguard - Desarrollo de productos de jubilación
• State Street Global Advisors - Estrategia ETF

Ingresos generados por la asociación total en 2023: $ 2.3 mil millones

Equitable Holdings, Inc. (EQH) - Modelo de negocio: actividades clave

Proporcionar seguro de vida y soluciones de jubilación

En 2023, Equitable Holdings reportó $ 4.3 mil millones en primas de seguro de vida individual. La compañía administra aproximadamente $ 222 mil millones en un seguro de vida individual vigente.

Categoría de productos	Volumen total total	Cuota de mercado
Seguro de vida individual	$ 4.3 mil millones	3.7%
Seguro de vida grupal	$ 1.2 mil millones	2.9%

Gestión de activos y servicios de asesoramiento de inversiones

Equitable gestiona $ 469 mil millones en activos totales bajo administración a partir del cuarto trimestre de 2023.

• Portafolio de inversión institucional: $ 187 mil millones
• Productos de inversión minorista: $ 282 mil millones
• Tarifa promedio de gestión de inversiones: 0.55%

Planificación financiera y gestión de patrimonio

La compañía atiende a aproximadamente 5.6 millones de clientes individuales a través de su red de asesoramiento financiero.

Segmento de asesor	Número de asesores	Activos de cliente promedio
Asesores independientes	10,200	$ 4.2 millones
Asesores profesionales	4,300	$ 3.8 millones

Desarrollo y mantenimiento de la plataforma digital

Equitable invirtió $ 127 millones en infraestructura tecnológica y plataformas digitales en 2023.

• Usuarios de aplicaciones móviles: 1.2 millones
• Volumen de transacciones en línea: $ 42 mil millones
• Tasa de participación de la plataforma digital: 68%

Gestión de riesgos y suscripción

La compañía mantiene un marco sólido de gestión de riesgos con $ 16.3 mil millones en reservas de capital total.

Categoría de riesgo	Asignación de capital	Estrategia de mitigación de riesgos
Riesgo de mortalidad	$ 6.7 mil millones	Reaseguro y diversificación
Riesgo de inversión	$ 5.2 mil millones	Cobertura y asignación de activos
Riesgo operativo	$ 4.4 mil millones	Cumplimiento y controles internos

Equitable Holdings, Inc. (EQH) - Modelo de negocio: recursos clave

Red de asesor financiero extenso

A partir del cuarto trimestre de 2023, Equitable Holdings, Inc. mantiene una red de aproximadamente 5.400 asesores financieros en los Estados Unidos.

Métricas de redes de asesor	Datos cuantitativos
Asesores financieros totales	5,400
Activos promedio bajo administración por asesor	$ 78.3 millones
Cobertura geográfica	50 estados de EE. UU.

Plataformas de gestión de inversiones propietarias

Las plataformas de inversión de Equitable incorporan infraestructura tecnológica avanzada.

• Inversión de plataforma digital: $ 42.3 millones en 2023
• Presupuesto de infraestructura tecnológica: $ 87.6 millones anuales
• Inversión de ciberseguridad: $ 24.1 millones

Reputación de marca fuerte

Fortaleza financiera y posicionamiento del mercado a partir de 2024:

Métricas de reputación de la marca	Valor
Valor de marca	$ 3.2 mil millones
Tasa de retención de clientes	87.5%
Puntaje de reputación del mercado	8.6/10

Capacidades de análisis de datos

Inversiones de infraestructura de análisis avanzados:

• Presupuesto anual de análisis de datos: $ 56.4 millones
• Inversión de aprendizaje automático: $ 18.7 millones
• Capacidad de procesamiento de datos: 2.3 petabytes por mes

Capital financiero y reservas

Indicadores de fortaleza financiera para 2024:

Métricas de recursos financieros	Cantidad
Activos totales	$ 187.6 mil millones
Equidad de los accionistas	$ 22.3 mil millones
Reservas de efectivo y líquidos	$ 8.7 mil millones

Equitable Holdings, Inc. (EQH) - Modelo de negocio: propuestas de valor

Soluciones integrales de jubilación y seguros

A partir del cuarto trimestre de 2023, Equitable Holdings reportó $ 185.6 mil millones en activos totales bajo administración. La compañía ofrece una gama de productos de jubilación que incluyen:

Categoría de productos	Valor total	Cuota de mercado
Anualidades de jubilación	$ 76.3 mil millones	8.2%
Pólizas de seguro de vida	$ 42.5 mil millones	6.7%
Cuentas de jubilación individuales	$ 66.8 mil millones	7.5%

Servicios de planificación financiera personalizada

Equitable proporciona servicios de asesoramiento financiero personalizados con:

• Más de 5.200 profesionales financieros en todo el país
• Tamaño promedio de la cartera de clientes de $ 1.2 millones
• Opciones de consulta digital y en persona

Opciones de inversión flexibles para diversas necesidades del cliente

Desglose del producto de inversión para 2023:

Tipo de inversión	Activos totales	Crecimiento anual
Fondos mutuos	$ 54.7 mil millones	6.3%
Anualidades variables	$ 39.2 mil millones	4.9%
Inversiones de renta fija	$ 27.5 mil millones	3.7%

Experiencia digital del cliente

Métricas de compromiso digital para 2023:

• 1.4 millones de usuarios de plataforma digital activa
• 72% de las interacciones del cliente a través de plataformas móviles/web
• Tiempo de transacción digital promedio: 8.3 minutos

Modelos de precios competitivos y transparentes

Estructura de tarifas para 2023:

Categoría de servicio	Tarifa anual promedio	Comparación de la industria
Gestión de patrimonio	0.85%	0.15% por debajo del promedio de la industria
Planificación de jubilación	0.65%	0.25% por debajo del promedio de la industria
Productos de seguro	1.2%	0.3% por debajo del promedio de la industria

Equitable Holdings, Inc. (EQH) - Modelo de negocio: relaciones con los clientes

Apoyo de asesoramiento personalizado

Equitable Holdings brinda servicios de asesoramiento financiero personalizado a 5,200 profesionales financieros en los Estados Unidos a partir de 2023. La compañía reportó $ 532 millones en ingresos de asesoramiento para el año que finaliza el cuarto trimestre de 2023.

Tipo de servicio de asesoramiento	Número de profesionales	Tamaño promedio de la cartera de clientes
Gestión de patrimonio	2,800	$ 3.2 millones
Planificación de jubilación	1,400	$ 1.8 millones
Estrategia de inversión	1,000	$ 2.5 millones

Plataformas de autoservicio digital

Las plataformas digitales de Equitable sirven a 1,7 millones de usuarios en línea activos con $ 247 mil millones en activos digitales administrados a través de canales de autoservicio en 2023.

• Descargas de aplicaciones móviles: 890,000
• Tasa de acceso de cuenta en línea: 68%
• Volumen de transacción digital: $ 42.3 mil millones

Consultas regulares de salud financiera

La Compañía realizó 78,000 revisiones integrales de salud financiera en 2023, con una duración de consulta promedio de 2.3 horas.

Gestión de cuentas dedicada

Equitable proporciona administración de cuentas dedicada para clientes de alto valor de red con carteras superiores a $ 5 millones. Base de cliente total de alto nivel de red: 22,600 cuentas.

Segmento de clientes	Número de gerentes dedicados	Tasa de retención de cliente promedio
Patrimonio neto ultra alto	340	92.4%
Alto patrimonio	1,200	87.6%

Educación y comunicación del cliente en curso

Equitable invirtió $ 18.3 millones en programas de educación del cliente durante 2023, entregando 42,000 seminarios web y talleres educativos.

• Eventos anuales de educación financiera: 1.200
• Vistas de contenido educativo digital: 3.6 millones
• Puntos de contacto de comunicación del cliente: 6.2 por año por cliente

Equitable Holdings, Inc. (EQH) - Modelo de negocio: canales

Plataformas digitales en línea

Las plataformas digitales de Equitable incluyen EquitableAccess.com con 1,2 millones de cuentas de usuario registradas a partir del cuarto trimestre de 2023. El volumen de transacciones de la plataforma digital alcanzó los $ 3.7 mil millones en 2023.

Métrica de plataforma digital	2023 estadísticas
Usuarios registrados	1,200,000
Volumen de transacción digital	$ 3.7 mil millones
Crecimiento anual de la plataforma digital	14.6%

Aplicaciones móviles

La aplicación móvil de Equitable tiene 825,000 usuarios mensuales activos con 2.3 millones de descargas totales a diciembre de 2023.

• Descargas de aplicaciones móviles: 2.3 millones
• Usuarios activos mensuales: 825,000
• Porcentaje de transacción móvil: 37% de las transacciones totales

Red de asesor financiero

Equitable mantiene una red de 12.500 asesores financieros con licencia en los Estados Unidos a partir de 2024.

Métrica de la red de asesor	2024 datos
Asesores con licencia total	12,500
Cartera promedio de clientes	$ 4.2 millones
Ingresos de asesores anuales	$ 1.8 mil millones

Centros de llamadas

Equitable opera 7 centros de llamadas con 2.100 representantes de servicio al cliente que manejan 3,6 millones de interacciones de clientes anualmente.

• Centros de llamadas totales: 7
• Representantes de servicio al cliente: 2,100
• Interacciones anuales del cliente: 3.6 millones
• Tiempo de resolución de llamadas promedio: 8.7 minutos

Ubicaciones de ramas físicas

Equitable mantiene 425 ubicaciones de ramas físicas en 47 estados en los Estados Unidos a partir de 2024.

Métrica de ubicación de rama	2024 estadísticas
Ramas físicas totales	425
Estados cubiertos	47
Volumen de transacción de rama promedio	$ 12.4 millones anuales

Equitable Holdings, Inc. (EQH) - Modelo de negocio: segmentos de clientes

Inversores minoristas individuales

A partir del cuarto trimestre de 2023, Equitable Holdings atiende a aproximadamente 5.6 millones de inversores minoristas individuales. El valor promedio de la cuenta para este segmento es de $ 187,500.

Grupo de edad	Porcentaje de inversores minoristas	Monto promedio de la inversión
25-34 años	18%	$75,300
35-44 años	24%	$135,600
45-54 años	28%	$215,400
55+ años	30%	$312,500

Individuos de alto nivel de red

Equitable Holdings se dirige a individuos de alto nivel de red con activos superiores a $ 1 millón. La Compañía administra aproximadamente $ 78.3 mil millones en activos de clientes de alto nivel de red.

• Umbral de inversión mínimo: $ 500,000
• Valor mediano de la cuenta: $ 1.6 millones
• Retorno anual promedio para este segmento: 7.4%

Dueños de negocios pequeños a medianos

La compañía atiende a 127,000 propietarios de negocios pequeños a medianos con productos financieros especializados.

Tamaño de negocio	Número de clientes	Valor promedio del plan de jubilación comercial
1-50 empleados	89,000	$ 1.2 millones
51-250 empleados	38,000	$ 4.7 millones

Clientes de planificación de jubilación

Equitable Holdings administra $ 312 mil millones en activos de jubilación para 3.2 millones de clientes de planificación de jubilados.

• Saldo promedio de la cuenta de jubilación: $97,500
• Clientes de edad media de jubilación: 52 años
• Porcentaje de clientes que usan planes 401 (k): 62%

Programas de beneficios de empleados corporativos

La compañía ofrece soluciones de beneficios para empleados a 15.300 clientes corporativos.

Sector industrial	Número de clientes corporativos	Total de empleados cubiertos
Tecnología	3,200	742,000
Cuidado de la salud	2,900	681,000
Servicios financieros	2,500	593,000
Fabricación	2,100	456,000
Otros sectores	4,600	1,082,000

Equitable Holdings, Inc. (EQH) - Modelo de negocio: Estructura de costos

Inversión en infraestructura tecnológica

A partir del año financiero 2022, Equitable Holdings invirtió $ 147.8 millones en infraestructura tecnológica y transformación digital.

Categoría de inversión tecnológica	Cantidad ($ millones)
Infraestructura de computación en la nube	52.3
Sistemas de ciberseguridad	38.6
Desarrollo de plataforma digital	56.9

Gastos de ventas y marketing

En 2022, Equitable Holdings asignó $ 312.5 millones para los esfuerzos de ventas y marketing.

• Marketing digital: $ 124.7 millones
• Canales de comercialización tradicionales: $ 87.3 millones
• Costos operativos del equipo de ventas: $ 100.5 millones

Compensación y capacitación de empleados

Los gastos totales relacionados con los empleados para 2022 fueron de $ 678.2 millones.

Categoría de compensación	Cantidad ($ millones)
Salarios base	456.3
Bonos de rendimiento	112.5
Programas de capacitación de empleados	109.4

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio totalizaron $ 93.6 millones en 2022.

• Cumplimiento legal: $ 42.1 millones
• Auditoría y gestión de riesgos: $ 33.5 millones
• Sistemas de informes regulatorios: $ 18 millones

Desarrollo de productos e innovación

Las inversiones de innovación y desarrollo de productos alcanzaron $ 201.4 millones en 2022.

Categoría de innovación	Cantidad ($ millones)
Investigación y desarrollo	124.7
Diseño de nuevos productos	56.2
Desarrollo prototipo	20.5

Equitable Holdings, Inc. (EQH) - Modelo de negocio: flujos de ingresos

Primas de seguro de vida

Para el año fiscal 2023, Equitable Holdings informó $ 3.8 mil millones En primas de seguro de vida.

Categoría de productos	Ingresos premium	Cuota de mercado
Seguro de vida individual	$ 2.1 mil millones	7.2%
Seguro de vida grupal	$ 1.7 mil millones	5.9%

Tarifas de gestión de activos

Las tarifas de gestión de activos totalizaron $ 1.6 mil millones en 2023.

• Gestión de activos institucionales: $ 892 millones
• Gestión de activos minoristas: $ 708 millones

Servicios de asesoramiento de inversiones

Servicios de asesoramiento de inversiones generados $ 425 millones en ingresos para 2023.

Tipo de servicio de asesoramiento	Ganancia
Gestión de patrimonio	$ 275 millones
Planificación financiera	$ 150 millones

Gestión del plan de jubilación

Los ingresos por gestión del plan de jubilación fueron $ 647 millones en 2023.

• Servicios del plan 401 (k): $ 412 millones
• Gestión del plan de beneficios definidos: $ 235 millones

Comisión de productos financieros

Las comisiones totales alcanzadas $ 512 millones en 2023.

Tipo de producto	Ingresos por comisión
Fondos mutuos	$ 218 millones
Anualidades	$ 294 millones

Equitable Holdings, Inc. (EQH) - Canvas Business Model: Value Propositions

Integrated financial solutions across retirement, wealth, and asset management.

Equitable Holdings, Inc. reported total Assets Under Management and Administration (AUM/A) of $1.1 trillion as of September 30, 2025, representing a year-over-year increase of 7%. The company serves more than 5 million client relationships globally.

The integrated model showed momentum in key areas during the third quarter of 2025:

• Retirement reported net inflows of $1.1 billion.
• Wealth Management advisory net inflows reached $2.2 billion.
• First year premiums in Individual Retirement were $5.5 billion, up 3% over the prior year.

Here's a look at the segment scale and performance metrics as of mid-to-late 2025:

Metric	Date/Period	Value
Total AUM/A	September 30, 2025	$1.1 trillion
Wealth Management Total Assets Under Administration	September 30, 2025	$118 billion
AllianceBernstein (AB) Adjusted Operating Margin	Q2 2025	32.3%
AB Private Markets AUM	Q2 2025	$77 billion
Individual Retirement First Year Premiums	Q3 2025	$5.5 billion

Risk protection and capital preservation via a market-neutral hedging approach.

Equitable Holdings completed its Individual Life reinsurance transaction with RGA on July 31, 2025, which created over $2 billion of value and reduced exposure to future mortality claims by 75%. The company reported a pro-forma combined NAIC RBC ratio of greater than 500% following this transaction. The company expects to take $1.7 billion of dividends to Holdings in the second half of 2025, which includes $1.0 billion from the life reinsurance transaction proceeds.

Differentiated advice model with supported independence for advisors.

Equitable Advisors, LLC has 4,500 duly registered and licensed financial professionals providing financial planning and wealth management services. Wealth Management advisory net inflows were $2.2 billion in the third quarter of 2025.

Access to premier global investment strategies through AllianceBernstein.

AllianceBernstein (AB), a global investment management firm, is a principal franchise of Equitable Holdings. In the second quarter of 2025, AB reported its private markets AUM reached $77 billion, marking a 20% year-over-year increase. For the same quarter, AB raised its full-year 2025 performance fee outlook to between $110 million and $130 million, up from the previous range of $90 million to $105 million.

Product innovation, such as the Structured Capital Strategies Premier indexed annuity.

Structured Capital Strategies Premier (SCS Premier) is a registered index-linked annuity offering 120 investment options, allowing accumulation based on indices like the S&P 500. Key features of the new offering include:

• Best Entry feature: Resets the starting investment value to the lowest index value over the next four months if lower.
• Dual Step Tier feature: Flips investment losses within the buffer to a predetermined positive rate of return.
• Death benefit options include either a 5% interest roll-up or the highest anniversary value over the life of the contract, whichever is greater.

Finance: Finalize the Q4 2025 capital deployment forecast by next Tuesday.

Equitable Holdings, Inc. (EQH) - Canvas Business Model: Customer Relationships

You're looking at how Equitable Holdings, Inc. (EQH) maintains its connections with clients across its diverse segments, which is heavily weighted toward personal advice and long-term planning, especially through its Equitable Advisors franchise.

The core of the high-touch service comes via Equitable Advisors. As of September 30, 2025, this network comprised 4,446 duly registered and licensed financial professionals. This advisory force is central to delivering the firm's retirement and protection strategies to individuals and families. The Wealth Management segment, which relies on this advisory channel, reported total assets under administration (AUA) reaching $118 billion as of the third quarter of 2025. This shows the scale of assets managed under this personalized model.

For institutional relationships, dedicated management is key, particularly within the Group Retirement (GR) business. The GR segment showed net inflows of $217 million in the second quarter of 2025, specifically noting net inflows in the institutional and tax-exempt channels. This indicates active relationship management in those specific client pools, even while the corporate channel experienced net outflows that quarter.

Digital tools are increasingly integrated to support both the advisors and the end clients. For the Employee Benefits business, the Digital Onboarding solution, launched in 2023, has seen significant adoption. More than two-thirds of brokers selected this digital method as their preferred way to onboard new benefit plans. Furthermore, this digital focus translates to perceived ease of doing business, with ninety-seven percent of brokers reporting that doing business with Equitable was easy in a survey covering the peak season from October 2024 to February 2025.

The relationships are inherently long-term, given the focus on retirement security. Equitable Holdings reports serving more than 5 million client relationships globally as of September 30, 2025. This longevity is reinforced by the perceived value of advice; a study released in October 2025 found that 83% of small business owners consider it important to work with a financial professional for business guidance. Overall, Equitable states it serves 4 million clients across the country as of late 2025.

Here's a quick look at the scale of the client base and advisory force:

• Total Client Relationships Globally (as of 9/30/2025): more than 5 million
• Equitable Advisors Financial Professionals (as of 9/30/2025): 4,446
• Wealth Management AUA (as of 9/30/2025): $118 billion
• Small Business Owners Valuing Advice (as of Oct 2025): 83%

The structure of client engagement can be broken down by the primary service channel:

Relationship Channel	Key Metric	Value (as of late 2025)
Equitable Advisors (Wealth Management)	Total Assets Under Administration (AUA)	$118 billion
Equitable Advisors (Wealth Management)	Advisory Net Inflows (Q3 2025)	$2.2 billion
Group Retirement (Institutional/Tax-Exempt)	Net Inflows (Q2 2025)	$217 million (combined)
Employee Benefits (Broker Digital Adoption)	Preferred Digital Onboarding Selection	More than two-thirds

The reliance on the advisor is clear, as the firm emphasizes the productivity of its professionals. For instance, in the first quarter of 2025, advisor productivity showed 8% year-over-year growth. This focus on advisor enablement through technology, like the Digital Onboarding solution, helps maintain the high-touch feel even as processes become more efficient. If onboarding takes 14+ days, churn risk rises, so the 89% of brokers reporting faster implementation timelines due to digital tools is a critical relationship metric.

Equitable Holdings, Inc. (EQH) - Canvas Business Model: Channels

You're mapping out the distribution footprint for Equitable Holdings, Inc. as of late 2025, and it's clear they rely on a multi-pronged approach, blending proprietary advice with institutional reach and digital efficiency. Here's the breakdown of how they get their products and services to market.

Equitable Advisors' affiliated financial professional network

The core of the wealth management channel runs through Equitable Advisors. This network is a significant source of client acquisition and service delivery for wealth and retirement solutions. As of the second half of 2025, Equitable Advisors, LLC had approximately 4,500 duly registered and licensed financial professionals across the country. Equitable itself serves about 4 million clients across the country, a relationship often facilitated by these advisors. For context on the scale this channel manages, Total Assets Under Administration (AUA) for Wealth Management reached $118 billion as of September 30, 2025. The productivity of this channel is a key indicator; for instance, advisor productivity improved by 8% in the first quarter of 2025, which management views as a good leading indicator for future growth.

This network is supported by a model described as supported independence, which offers robust capabilities and an open-architecture platform. Here's a snapshot of the overall scale Equitable Holdings managed through its various channels as of late 2025:

Metric	Value as of September 30, 2025	Value as of June 30, 2025
Total Assets Under Management and Administration (AUM/A)	$1.1 trillion	$1.1 trillion
Total Client Relationships Globally	More than 5 million	More than 5 million
Wealth Management Advisory Net Inflows (Q3 2025)	$2.2 billion	$2.0 billion (Q2 2025)

Third-party broker-dealers and independent distribution channels

Equitable Holdings' distribution strategy isn't solely reliant on its captive advisors. The firm utilizes third-party institutions to broaden its reach, which is explicitly mentioned as a competitive edge through diversified distribution. AllianceBernstein (AB), the Asset Management franchise, reports positive net inflows across all its distribution channels. For example, in the third quarter of 2025, AB reported net inflows of $1.7 billion when excluding the impact of the RGA life reinsurance transaction. This indicates that a significant portion of asset management flows comes through external channels, including third-party broker-dealers and institutional consultants.

The structure supports various external partners:

• Financial professionals and brokers.
• Registered Investment Advisers (RIAs).
• Brokers for Employee Benefits products.

Institutional sales force for Group Retirement and Asset Management

The institutional sales force targets Group Retirement (GR) and Asset Management (AB) clients. The GR segment reported net inflows of $217 million in the second quarter of 2025, with specific mention of inflows in the institutional and tax-exempt channels. For the broader Retirement segment (which includes Individual Retirement), net inflows for the third quarter of 2025 were $1.1 billion. The institutional focus within Asset Management is critical; AB offers diversified investment services to institutional investors globally. The company is focused on capturing greater margins through AB and Equitable's investment services, a key component of their strategy.

Direct-to-client digital portals for account access and service

Digital enablement is used to streamline processes, particularly for the intermediary channels, which in turn improves the end-client experience. The success of Equitable's Digital Onboarding solution, launched in 2023, demonstrates this focus. This solution is integrated into the EB360 employee benefits platform. Data from mid-2025 shows tangible results from this digital push:

• Adoption: More than two-thirds of brokers selected Digital Onboarding as their preferred implementation method for new benefit plans.
• Speed: Eighty-nine percent of brokers reported faster implementation timelines.
• Client Satisfaction: Ninety-seven percent of brokers indicated that doing business with Equitable was easy.

This digital infrastructure helps the firm serve its more than 5 million client relationships globally, even if the direct interaction is mediated by a financial professional or broker. Finance: draft 13-week cash view by Friday.

Equitable Holdings, Inc. (EQH) - Canvas Business Model: Customer Segments

You're looking at the core groups Equitable Holdings, Inc. serves, which directly informs where they focus their capital and product development. Honestly, the business is built around managing money for life events, primarily retirement and protection, across a wide spectrum of clients.

Equitable Holdings, Inc. serves more than 5 million client relationships globally as of September 30, 2025. The total Assets Under Management and Administration (AUM/A) stood at $1.1 trillion at that same date.

Here's a breakdown of the key customer groups, supported by the latest segment performance data:

• Individuals and families seeking retirement and protection strategies.
• Small businesses needing employee benefits and retirement plans.
• Institutional investors (pensions, endowments) for asset management.
• High-net-worth and private wealth clients.
• Tax-exempt organizations and public-sector entities (Group Retirement).

The Individual Retirement (IR) business, which targets individuals and families, showed strong activity. For the third quarter of 2025, this group generated net inflows of $1.1 billion and first year premiums totaling $5.5 billion.

The Group Retirement (GR) segment addresses small businesses, tax-exempt organizations, and public-sector entities. For the second quarter of 2025, GR reported net inflows of $217 million, driven by the institutional and tax-exempt channels.

AllianceBernstein (AB), Equitable Holdings, Inc.'s asset management arm, caters to institutional investors and private wealth clients. In Q3 2025, AB reported net outflows of $2.3 billion, or inflows of $1.7 billion when excluding the impact of the RGA life reinsurance transaction. The Private Markets business within AB currently manages $77 billion in assets.

High-net-worth and private wealth clients are also served through the Wealth Management (WM) channel, which includes Equitable Advisors. As of the third quarter of 2025, WM reported advisory net inflows of $2.2 billion, bringing total assets under administration to $118 billion.

To give you a clearer picture of the scale and flow across these customer-facing areas as of late 2025, look at this summary of recent segment activity:

Customer Segment Focus (Reported Segment)	Key Metric	Latest Reported Amount (Q3 2025 unless noted)
Individuals/Families (Individual Retirement)	Net Inflows	$1.1 billion
Individuals/Families (Individual Retirement)	First Year Premiums	$5.5 billion
Small Businesses/Institutions (Group Retirement)	Net Inflows (Q2 2025)	$217 million
Institutional/Private Wealth (Asset Management - AB)	Net Inflows (Excluding RGA Re)	$1.7 billion
High-Net-Worth/Private Wealth (Wealth Management)	Advisory Net Inflows	$2.2 billion
High-Net-Worth/Private Wealth (Wealth Management)	Total Assets Under Administration	$118 billion

The company's overall client base is broad, spanning from individuals needing a basic retirement strategy to large institutions allocating significant capital through AllianceBernstein. For instance, the IR segment saw first year premiums of $4.8 billion in Q2 2025, up 7% over the prior year, showing direct engagement with the protection and retirement planning market.

It's defintely worth noting the scale of the asset management clients for AB, which includes institutional investors. Their Private Markets business alone holds $77 billion in assets under management, showing a deep relationship with sophisticated capital allocators.

Finance: draft 13-week cash view by Friday.

Equitable Holdings, Inc. (EQH) - Canvas Business Model: Cost Structure

You're looking at the cost side of Equitable Holdings, Inc. (EQH) as of their latest reported quarter, Q3 2025. This is where the money goes out to keep the engine running and meet obligations to policyholders.

Policyholder benefits and claims, though reduced by reinsurance.

The most significant cost factor involves policyholder benefits and claims, which saw a major accounting impact from the life reinsurance transaction closed in Q3 2025. Equitable Holdings reported a net loss of $\$(1.3)$ billion for the third quarter of 2025, primarily driven by the one-time impact from this life reinsurance transaction. To offset this, the agreement with RGA Reinsurance Company to reinsure 75% of the in-force individual life insurance block generated over $2 billion of value, which included a positive ceding commission and release of capital. Still, the Retirement segment noted that its operating earnings were negatively impacted by higher expenses alongside a lower net interest margin.

Compensation and commissions for the 4,600+ advisor force.

The cost of distribution is substantial, tied directly to the sales force. Equitable Advisors, LLC has 4,600 duly registered and licensed financial professionals providing services across the country. This force drives revenue, as evidenced by the Wealth Management segment reporting advisory net inflows of $2.2 billion in Q3 2025.

Here's a look at the capital deployment actions taken in Q3 2025, which indirectly relates to managing overall cost of capital and operations:

Capital Deployment Category	Amount (Q3 2025)
Total Capital Deployed	$1.5 billion
Debt Repayment	$500 million
Share Buybacks and Dividends	$757 million
Growth Investments	c.$200 million

General operating expenses and technology investment costs.

General overhead and technology spending fall under the Corporate and Other (C&O) segment, which is a net cost center. The operating loss for the C&O segment in the third quarter of 2025 was $159 million, an increase from an operating loss of $59 million in the prior year quarter. The company allocated about $200 million towards growth investments in Q3 2025, which would encompass technology upgrades and business expansion efforts.

Interest expense on outstanding debt, reduced by $500 million repayment in Q3 2025.

Managing the cost of debt is a clear priority. Equitable Holdings used $500 million specifically for debt repayment during the third quarter of 2025. To be fair, the company also reduced total outstanding debt and hybrids by $665 million during that same quarter. This action helps reduce future interest expense obligations.

Costs associated with hedging and risk management programs.

While specific line-item costs for hedging programs aren't detailed in the summary results, the entire structure of Equitable Financial Life Insurance Company is inherently tied to managing insurance risk. The reinsurance transaction with RGA is a massive risk management action itself, designed to enhance focus on capital-efficient businesses. The fixed maturity portfolio, valued at $80 billion as of Q3 2025, is heavily weighted toward safety, with 70% rated Aaa, Aa, or A, and an average portfolio rating of A2.

You should review the detailed financial supplement for the exact interest expense and hedging program costs, but the debt reduction and reinsurance activity show the direction of travel on these cost components.

Equitable Holdings, Inc. (EQH) - Canvas Business Model: Revenue Streams

You're looking at how Equitable Holdings, Inc. actually brings in the money, which is key to understanding its valuation, especially now that the big RGA reinsurance deal has closed. Honestly, the revenue picture is a blend of steady management fees and lumpy, transaction-driven items.

The foundation of predictable cash flow comes from the assets managed across its businesses. As of September 30, 2025, total Assets Under Management and Administration (AUM/A) for Equitable Holdings stood at a record $1.1 trillion. This massive scale underpins the fee-based earnings stream, though the Retirement segment's operating earnings were negatively impacted in Q3 2025 by a lower net interest margin.

The spread-based revenue from the general account, which includes net investment income (NII), shows some volatility, particularly from alternatives. For instance, in Q2 2025, notable items reflected $3 million in lower net investment income from alternatives. This stream is crucial but subject to market fluctuations, as seen in the prior quarter adjustments.

The Wealth Management segment, driven by Equitable Advisors, is a significant fee generator. In the third quarter of 2025, this segment pulled in advisory net inflows of $2.2 billion. This growth in assets under administration (AUA) translates directly into advisory and distribution fees, which helped boost operating earnings in Q2 2025.

The Retirement business remains a core revenue driver, especially through new business production. First-year premiums and deposits for the Retirement segment totaled $5.5 billion in Q3 2025, marking a 3% increase over the prior year.

A major, non-recurring, but highly impactful revenue-like event was the RGA reinsurance transaction. This deal generated over $2 billion in total value for Equitable Holdings, which included a positive ceding commission and capital release. While this caused a $1.3 billion net loss in Q3 2025 due to the one-time accounting impact, the capital is now available to reinvest in core growth areas.

Here's a quick look at how the adjusted operating earnings were distributed across the segments in Q3 2025, which gives you a sense of where the recurring fee-based earnings are concentrated:

Business Segment	Contribution to Adjusted Non-GAAP Operating Earnings (Q3 2025)
Retirement	66%
Asset Management (AB)	25%
Wealth Management (WM)	9%

To be defintely clear on the sources of revenue that feed into those earnings, you can see the key activity metrics from Q3 2025:

• Fee-based earnings are supported by total AUM/A of $1.1 trillion as of September 30, 2025.
• Wealth Management advisory net inflows reached $2.2 billion in Q3 2025.
• Retirement first-year premiums were $5.5 billion in Q3 2025.
• Asset Management (AB) reported net inflows of $1.7 billion, excluding the RGA transaction impact.
• The RGA reinsurance deal provided a one-time value generation exceeding $2 billion.

Finance: draft 13-week cash view by Friday.