Since the financial crisis, people have changed, being “sobered by the reality of the difficulty of investing properly on their own,” said Craig Bromley, president of John Hancock. “I think they’re looking for professional money management to guide them through things. That really plays to our strengths here at John Hancock, because we’re a leader in the field of asset allocation solutions, lifestyle funds and target day funds.” in addition, John Hancock’s products and services also include life insurance, long-term care insurance and the John Hancock Financial Network.

In 2000, Bromley joined Manulife Financial, John Hancock’s parent company and he has been working for Manulife and its subsidiaries ever since. Most recently, he spent time in Japan, where he was the CFO for two years and president and CEO of the Japanese operation for five.

His experiences in Japan help him immensely in his current role as president. In discussing John Hancock’s approach to life insurance, Bromley said, “I come from Japan where they have a long history of low interest rates and I understand what it’s like to operate in this environment – how to deliver good value to customers in a low interest rate environment.” Instead of continuing to sell long-term guaranteed life insurance products, which lock in the current low interest rates, John Hancock has a current assumption universal life product that will take advantage of future interest rates, which are expected to rise over time.

“All the surveys basically show that, effectively, Americans are under-insured,” Bromley revealed, explaining one area of John Hancock’s expertise that could see a lot of growth in the future. “We see some opportunities to move into the more middle market space where there is a particular issue of under-insurance. We’re working on the right distribution strategies to reach those people and make sure they are adequately protected.”

In addition to life insurance, John Hancock is a leader in wealth management, specifically in 401(k)s and mutual funds. When it comes to mutual funds, their method is called “strong risk adjustment returns.” This style of managing mutual funds – which includes portfolio adjustments over time to reduce risk – is popular in these current post-crisis times. In fact, Bromley noted that their mutual fund business has grown substantially every year, with this year essentially doubling last year’s sales.

Two funds in demand among consumers are lifestyle funds and target date funds. Lifestyle funds are appealing because they are customized to the individual’s risk tolerance. For example, aggressive investors who can afford to take risks receive different products from those investors who prefer to take a more conservative approach.

Target date funds, on the other hand, are based on how many years until an individual's retirement and life expectancy. The target date funds are designed to hit returns based on these numbers. The further a person is from retirement, the more risk can be taken. Then, as the retirement date approaches, the level of risk decreases in order to preserve currently existing capital.

In June, John Hancock announced that it would be acquiring Symetra Investment Services from Symetra Financial Corporation. This will become a distribution channel under the existing John Hancock Financial Network. John Hancock products and services are provided through this channel, but will not necessarily be the only things available. Independent broker/dealers are free to sell any product. “We are very much dedicated to growing this channel,” said Bromley.

Bromley wants to expand distribution and thinks that acquiring smaller broker/dealers is a good avenue for doing that. “We think that there are a number of smaller broker/dealers out there that would fit nicely with our company and with our approach,” Bromley explained, firmly believing that John Hancock will provide them “a good home.”

Bromley – a self-described family man – continues to lead the company down a path that includes not only business but also community support. Having been the principal sponsor of the Boston Marathon for 28 years, the company was essential in developing the One Fund in response to the Boston Marathon bombing. “The marathon is like family to us,” said Bromley, who also pointed out that the company is based in Boston, with offices only blocks from where the bombing took place. John Hancock donated the first $1 million to the One Fund, which now totals over $61 million.

As far as the future, Bromley sees growth – and lots of it. The company not only plans to expand distribution but also to increase its existing products and services.

It has been almost a year since Bromley became president. How has his time been? “So far, so good,” he laughed.

For more information, please visit: www.johnhancock.com