John Hancock, part of Manulife Financial, is acquiring Washington-based Symetra Investment Services from Symetra Financial Corporation for an undisclosed amount.

Symetra, a dual-registered broker-dealer and investment advisor, will become affiliated with John Hancock Financial Network, which has 1,600 registered representatives through its broker-dealer and investment advisor, Signator Investors.

JHFN said its affiliated advisors have access to an integrated technology platform, defined contribution resources and a practice management team, among other resources.

Tom Marra, president and CEO of Symetra Financial Corporation, said: "Given Symetra's current product lineup, SIS is no longer a good strategic fit for us as a distribution channel. John Hancock Financial Network will offer many advantages to SIS advisors, allowing them to thrive with greater scale and resources for clients as well as business development support."  

Funds under management by Manulife Financial and its subsidiaries were C$555 billion ($547 billion) as at March 31, 2013.