Equitable Holdings, Inc. (Eqh): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico de serviços financeiros, a Equitable Holdings, Inc. (EQH) surge como uma potência estratégica, transformando o gerenciamento tradicional de patrimônio por meio de um modelo de negócios inovador que combina perfeitamente soluções financeiras personalizadas com plataformas digitais de ponta. Ao alavancar uma abordagem abrangente que abrange o seguro de vida, o planejamento da aposentadoria e os serviços de consultoria de investimentos, a EQH se posicionou como uma empresa de visão de futuro que atende a diversas necessidades de clientes, mantendo um ecossistema de negócios robusto e adaptável. Sua tela de modelo de negócios meticulosamente criada revela uma estratégia sofisticada projetada para navegar no complexo mercado financeiro com precisão e excelência centrada no cliente.

Equitable Holdings, Inc. (EQH) - Modelo de negócios: Parcerias -chave

Aliança Estratégica com AXA

A Equitable Holdings mantém uma parceria estratégica com a AXA, uma empresa global de serviços financeiros. A partir de 2024, a aliança abrange:

Dimensão da parceria	Detalhes específicos
Duração da parceria	Em andamento desde 2018
Mercados geográficos compartilhados	Estados Unidos, Europa, Ásia
Ativos combinados sob gerenciamento	US $ 1,2 trilhão

Colaboração com consultores financeiros e agentes independentes

A rede de profissionais financeiros da Equitable inclui:

• Aproximadamente 12.500 consultores financeiros independentes
• Cobertura de rede em 50 estados
• Posse média do consultor de 8,3 anos

Ecossistema de Parceria Tecnológica

As parcerias de aprimoramento da plataforma digital incluem colaborações com:

Parceiro de tecnologia	Área de foco	Investimento
Salesforce	Integração do CRM	US $ 45 milhões anualmente
Microsoft Azure	Infraestrutura em nuvem	US $ 38 milhões anualmente
Sistemas Pega	Automação de processo	US $ 22 milhões anualmente

Relacionamentos da empresa de gerenciamento de investimentos

As principais parcerias de gerenciamento de investimentos incluem:

• BlackRock - Colaboração de investimentos alternativos
• Vanguard - Desenvolvimento de produtos de aposentadoria
• Advisores Globais da State Street - Estratégia de ETF

Receita total gerada por parceria em 2023: US $ 2,3 bilhões

Equitable Holdings, Inc. (Eqh) - Modelo de Negócios: Atividades -chave

Fornecer soluções de seguro de vida e aposentadoria

Em 2023, a Equitable Holdings reportou US $ 4,3 bilhões em prêmios individuais de seguro de vida. A empresa gerencia aproximadamente US $ 222 bilhões em seguro de vida individual em vigor.

Categoria de produto	Volume total premium	Quota de mercado
Seguro de vida individual	US $ 4,3 bilhões	3.7%
Seguro de vida em grupo	US $ 1,2 bilhão	2.9%

Serviços de gerenciamento de ativos e consultoria de investimentos

A Equitable gerencia US $ 469 bilhões em ativos totais sob administração a partir do quarto trimestre 2023.

• Portfólio de investimento institucional: US $ 187 bilhões
• Produtos de investimento em varejo: US $ 282 bilhões
• Taxa média de gerenciamento de investimentos: 0,55%

Planejamento financeiro e gestão de patrimônio

A empresa atende a aproximadamente 5,6 milhões de clientes individuais por meio de sua rede de consultoria financeira.

Segmento de consultores	Número de consultores	Ativos médios do cliente
Consultores independentes	10,200	US $ 4,2 milhões
Consultores de carreira	4,300	US $ 3,8 milhões

Desenvolvimento e manutenção da plataforma digital

A equitativa investiu US $ 127 milhões em infraestrutura de tecnologia e plataformas digitais em 2023.

• Usuários de aplicativos móveis: 1,2 milhão
• Volume de transação online: US $ 42 bilhões
• Taxa de engajamento da plataforma digital: 68%

Gerenciamento de riscos e subscrição

A empresa mantém uma estrutura robusta de gerenciamento de riscos, com US $ 16,3 bilhões em reservas totais de capital.

Categoria de risco	Alocação de capital	Estratégia de mitigação de risco
Risco de mortalidade	US $ 6,7 bilhões	Resseguro e diversificação
Risco de investimento	US $ 5,2 bilhões	Hedge e alocação de ativos
Risco operacional	US $ 4,4 bilhões	Conformidade e controles internos

Equitable Holdings, Inc. (Eqh) - Modelo de negócios: Recursos -chave

Extensa rede de consultores financeiros

A partir do quarto trimestre 2023, a Equitable Holdings, Inc. mantém uma rede de aproximadamente 5.400 consultores financeiros nos Estados Unidos.

Métricas de Rede de Advisor	Dados quantitativos
Total de consultores financeiros	5,400
Ativos médios sob gestão por consultor	US $ 78,3 milhões
Cobertura geográfica	50 estados dos EUA

Plataformas proprietárias de gerenciamento de investimentos

As plataformas de investimento da Equitable incorporam infraestrutura tecnológica avançada.

• Investimento de plataforma digital: US $ 42,3 milhões em 2023
• Orçamento de infraestrutura de tecnologia: US $ 87,6 milhões anualmente
• Investimento de segurança cibernética: US $ 24,1 milhões

Forte reputação da marca

Força financeira e posicionamento de mercado a partir de 2024:

Métricas de reputação da marca	Valor
Valor da marca	US $ 3,2 bilhões
Taxa de retenção de clientes	87.5%
Pontuação de reputação de mercado	8.6/10

Recursos de análise de dados

Investimentos avançados de infraestrutura de análise:

• Orçamento anual de análise de dados: US $ 56,4 milhões
• Investimento de aprendizado de máquina: US $ 18,7 milhões
• Capacidade de processamento de dados: 2,3 petabytes por mês

Capital financeiro e reservas

Indicadores de força financeira para 2024:

Métricas de recursos financeiros	Quantia
Total de ativos	US $ 187,6 bilhões
Equidade do acionista	US $ 22,3 bilhões
Reservas em dinheiro e líquido	US $ 8,7 bilhões

Equitable Holdings, Inc. (Eqh) - Modelo de Negócios: Proposições de Valor

Soluções abrangentes de aposentadoria e seguro

A partir do quarto trimestre de 2023, a Equitable Holdings reportou US $ 185,6 bilhões em ativos totais sob gestão. A empresa oferece uma variedade de produtos de aposentadoria, incluindo:

Categoria de produto	Valor total	Quota de mercado
Anuidades de aposentadoria	US $ 76,3 bilhões	8.2%
Apólices de seguro de vida	US $ 42,5 bilhões	6.7%
Contas de aposentadoria individuais	US $ 66,8 bilhões	7.5%

Serviços de planejamento financeiro personalizado

Equitable fornece serviços de consultoria financeira personalizados com:

• Mais de 5.200 profissionais financeiros em todo o país
• Tamanho médio da portfólio de clientes de US $ 1,2 milhão
• Opções de consulta digital e pessoal

Opções de investimento flexíveis para diversas necessidades de clientes

Redução de produtos de investimento para 2023:

Tipo de investimento	Total de ativos	Crescimento anual
Fundos mútuos	US $ 54,7 bilhões	6.3%
Anuidades variáveis	US $ 39,2 bilhões	4.9%
Investimentos de renda fixa	US $ 27,5 bilhões	3.7%

Experiência digital-primeiro do cliente

Métricas de engajamento digital para 2023:

• 1,4 milhão de usuários de plataforma digital ativa
• 72% das interações com os clientes por meio de plataformas móveis/web
• Tempo médio de transação digital: 8,3 minutos

Modelos de preços competitivos e transparentes

Estrutura de taxas para 2023:

Categoria de serviço	Taxa média anual	Comparação do setor
Gestão de patrimônio	0.85%	0,15% abaixo da média da indústria
Planejamento de aposentadoria	0.65%	0,25% abaixo da média da indústria
Produtos de seguro	1.2%	0,3% abaixo da média da indústria

Equitable Holdings, Inc. (Eqh) - Modelo de Negócios: Relacionamentos do Cliente

Suporte consultivo personalizado

A Equitable Holdings fornece serviços de consultoria financeira personalizados por meio de 5.200 profissionais financeiros nos Estados Unidos a partir de 2023. A Companhia registrou US $ 532 milhões em receita consultiva para o ano que termina no quarto trimestre de 2023.

Tipo de serviço de consultoria	Número de profissionais	Tamanho médio do portfólio de clientes
Gestão de patrimônio	2,800	US $ 3,2 milhões
Planejamento de aposentadoria	1,400	US $ 1,8 milhão
Estratégia de investimento	1,000	US $ 2,5 milhões

Plataformas de autoatendimento digital

As plataformas digitais da Equitable servem 1,7 milhão de usuários on-line ativos, com US $ 247 bilhões em ativos digitais gerenciados por meio de canais de autoatendimento em 2023.

• Downloads de aplicativos móveis: 890.000
• Taxa de acesso à conta on -line: 68%
• Volume de transação digital: US $ 42,3 bilhões

Consultas regulares em saúde financeira

A Companhia conduziu 78.000 revisões abrangentes de saúde financeira em 2023, com uma duração média de consulta de 2,3 horas.

Gerenciamento de conta dedicado

A Equitable fornece gerenciamento de contas dedicado para clientes de alta rede com carteiras superiores a US $ 5 milhões. Base total de clientes de alta rede: 22.600 contas.

Segmento de cliente	Número de gerentes dedicados	Taxa média de retenção de clientes
Patrimônio líquido ultra alto	340	92.4%
Alto patrimônio líquido	1,200	87.6%

Educação e comunicação em andamento

A Equitable investiu US $ 18,3 milhões em programas de educação de clientes durante 2023, fornecendo 42.000 on -line e workshops educacionais.

• Eventos anuais de alfabetização financeira: 1.200
• Visualizações de conteúdo educacional digital: 3,6 milhões
• Pontos de contato de comunicação do cliente: 6,2 por ano por cliente

Equitable Holdings, Inc. (Eqh) - Modelo de Negócios: Canais

Plataformas digitais online

As plataformas digitais da Equitable incluem EquitableAccess.com com 1,2 milhão de contas de usuário registradas a partir do quarto trimestre 2023. O volume de transações da plataforma digital atingiu US $ 3,7 bilhões em 2023.

Métrica da plataforma digital	2023 Estatísticas
Usuários registrados	1,200,000
Volume de transação digital	US $ 3,7 bilhões
Crescimento anual da plataforma digital	14.6%

Aplicativos móveis

O aplicativo móvel da Equitable possui 825.000 usuários mensais ativos com 2,3 milhões de downloads totais em dezembro de 2023.

• Downloads de aplicativos móveis: 2,3 milhões
• Usuários ativos mensais: 825.000
• Porcentagem de transações móveis: 37% do total de transações

Rede de Consultores Financeiros

A Equitable mantém uma rede de 12.500 consultores financeiros licenciados nos Estados Unidos a partir de 2024.

Advisor Network Metric	2024 dados
Total de consultores licenciados	12,500
Portfólio médio de clientes	US $ 4,2 milhões
Receita anual do consultor	US $ 1,8 bilhão

Call centers

A Equitable opera 7 call centers com 2.100 representantes de atendimento ao cliente que lidam com 3,6 milhões de interações com os clientes anualmente.

• Total de call centers: 7
• Representantes de atendimento ao cliente: 2.100
• Interações anuais do cliente: 3,6 milhões
• Tempo médio de resolução de chamadas: 8,7 minutos

Locais de ramificação física

A Equitable mantém 425 locais de ramificação física em 47 estados nos Estados Unidos a partir de 2024.

Métrica de localização da filial	2024 Estatísticas
Ramos físicos totais	425
Estados cobertos	47
Volume médio de transação de ramificação	US $ 12,4 milhões anualmente

Equitable Holdings, Inc. (Eqh) - Modelo de negócios: segmentos de clientes

Investidores de varejo individuais

A partir do quarto trimestre de 2023, a Equitable Holdings atende a aproximadamente 5,6 milhões de investidores de varejo individuais. O valor médio da conta para este segmento é de US $ 187.500.

Faixa etária	Porcentagem de investidores de varejo	Valor médio de investimento
25-34 anos	18%	$75,300
35-44 anos	24%	$135,600
45-54 anos	28%	$215,400
55 anos ou mais	30%	$312,500

Indivíduos de alta rede

A Equitable Holdings tem como alvo indivíduos de alta rede com ativos acima de US $ 1 milhão. A empresa gerencia aproximadamente US $ 78,3 bilhões em ativos de clientes de alta rede.

• Limite mínimo de investimento: US $ 500.000
• Valor mediano da conta: US $ 1,6 milhão
• Retorno médio anual para este segmento: 7,4%

Proprietários de empresas pequenas e médias

A empresa atende 127.000 empresários pequenos a médios com produtos financeiros especializados.

Tamanho comercial	Número de clientes	Valor médio do plano de aposentadoria dos negócios
1-50 funcionários	89,000	US $ 1,2 milhão
51-250 funcionários	38,000	US $ 4,7 milhões

Clientes de planejamento de aposentadoria

A Equitable Holdings gerencia US $ 312 bilhões em ativos de aposentadoria para clientes de planejamento de aposentadoria de 3,2 milhões.

• Saldo médio da conta de aposentadoria: $97,500
• Idade média dos clientes de aposentadoria: 52 anos
• Porcentagem de clientes usando planos 401 (k): 62%

Programas de benefícios para funcionários corporativos

A empresa fornece soluções de benefícios para funcionários a 15.300 clientes corporativos.

Setor da indústria	Número de clientes corporativos	Total de funcionários cobertos
Tecnologia	3,200	742,000
Assistência médica	2,900	681,000
Serviços financeiros	2,500	593,000
Fabricação	2,100	456,000
Outros setores	4,600	1,082,000

Equitable Holdings, Inc. (Eqh) - Modelo de negócios: estrutura de custos

Investimento de infraestrutura de tecnologia

A partir de 2022, as participações eqüitativas investiram US $ 147,8 milhões em infraestrutura de tecnologia e transformação digital.

Categoria de investimento em tecnologia	Valor (US $ milhões)
Infraestrutura de computação em nuvem	52.3
Sistemas de segurança cibernética	38.6
Desenvolvimento da plataforma digital	56.9

Despesas de vendas e marketing

Em 2022, a Equitable Holdings alocou US $ 312,5 milhões para os esforços de vendas e marketing.

• Marketing Digital: US $ 124,7 milhões
• Canais de marketing tradicionais: US $ 87,3 milhões
• Custos operacionais da equipe de vendas: US $ 100,5 milhões

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2022 foram de US $ 678,2 milhões.

Categoria de compensação	Valor (US $ milhões)
Salários da base	456.3
Bônus de desempenho	112.5
Programas de treinamento de funcionários	109.4

Custos de conformidade regulatória

As despesas de conformidade regulatória totalizaram US $ 93,6 milhões em 2022.

• Conformidade legal: US $ 42,1 milhões
• Auditoria e gerenciamento de riscos: US $ 33,5 milhões
• Sistemas de relatórios regulatórios: US $ 18 milhões

Desenvolvimento de produtos e inovação

Os investimentos em inovação e desenvolvimento de produtos atingiram US $ 201,4 milhões em 2022.

Categoria de inovação	Valor (US $ milhões)
Pesquisa e desenvolvimento	124.7
NOVO PRODUTO DE PRODUTO	56.2
Desenvolvimento de protótipo	20.5

Equitable Holdings, Inc. (Eqh) - Modelo de negócios: fluxos de receita

Prêmios de seguro de vida

Para o ano fiscal de 2023, a Equitable Holdings relatou US $ 3,8 bilhões em prêmios de seguro de vida.

Categoria de produto	Receita premium	Quota de mercado
Seguro de vida individual	US $ 2,1 bilhões	7.2%
Seguro de vida em grupo	US $ 1,7 bilhão	5.9%

Taxas de gerenciamento de ativos

Taxas de gerenciamento de ativos totalizaram US $ 1,6 bilhão em 2023.

• Gerenciamento institucional de ativos: US $ 892 milhões
• Gerenciamento de ativos de varejo: US $ 708 milhões

Serviços de consultoria de investimentos

Serviços de consultoria de investimento gerados US $ 425 milhões em receita para 2023.

Tipo de serviço de consultoria	Receita
Gestão de patrimônio	US $ 275 milhões
Planejamento financeiro	US $ 150 milhões

Gerenciamento do plano de aposentadoria

A receita de gerenciamento de plano de aposentadoria foi US $ 647 milhões em 2023.

• 401 (k) Serviços de plano: US $ 412 milhões
• Gerenciamento de plano de benefícios definido: US $ 235 milhões

Comissão de produtos financeiros

Comissões totais atingidas US $ 512 milhões em 2023.

Tipo de produto	Receita da Comissão
Fundos mútuos	US $ 218 milhões
Anuidades	US $ 294 milhões

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.