Mission Statement, Vision, & Core Values (2024) of Equitable Holdings, Inc. (EQH).

An Overview of Equitable Holdings, Inc. (EQH)

General Summary of Equitable Holdings, Inc. (EQH)

Equitable Holdings, Inc. (EQH), formerly known as AXA Equitable Holdings, is a prominent financial services company that offers a range of insurance and investment solutions. Established in 1859, the company has a long-standing history in the financial sector. Its headquarters are located in New York City. As of 2024, Equitable Holdings provides various products, including individual and group retirement solutions, life insurance, and investment management services through its subsidiaries, notably AllianceBernstein.

In 2024, Equitable Holdings reported total sales of approximately $8.5 billion, driven primarily by its insurance and investment management offerings. The company's individual and group retirement products continue to be significant contributors to its revenue streams.

Company's Financial Performance in the Latest Financial Reports

Equitable Holdings' financial performance for the third quarter of 2024 reflects robust growth and resilience in its operations. The company reported a net income of $26 million for the quarter, a notable decrease from $1.135 billion in the same period in 2023. However, the comprehensive income attributable to Holdings for the quarter was $1.916 billion, compared to a loss of $1.596 billion a year earlier.

For the nine months ended September 30, 2024, the company achieved a net income of $808 million, down from $2.232 billion in 2023. The decline in net income is attributed to fluctuations in net derivative gains, which saw significant losses of $2.298 billion in 2024 compared to gains of $1.143 billion in 2023.

The company’s revenues for the nine months were primarily composed of:

Equitable Holdings also reported total assets of $298.989 billion as of September 30, 2024, compared to $276.814 billion at the end of 2023. This growth in total assets is indicative of the company's strategic investments and expansion in various markets.

Introduction to Equitable Holdings as a Leader in the Industry

As of 2024, Equitable Holdings, Inc. stands out as a leader in the financial services industry, particularly in retirement and insurance solutions. The company has successfully navigated market challenges and demonstrated a commitment to innovation and customer service. Its strategic partnerships and investments have positioned it favorably within the competitive landscape.

The company's focus on sustainable growth and customer-centric products has garnered it a solid reputation among consumers and investors alike. To understand more about Equitable Holdings' successful strategies and market positioning, further exploration of its operational metrics and product offerings is recommended.

Mission Statement of Equitable Holdings, Inc. (EQH)

Mission Statement of Equitable Holdings, Inc. (EQH)

The mission statement of Equitable Holdings, Inc. (EQH) emphasizes its commitment to delivering high-quality financial solutions and services tailored to meet the diverse needs of its clients. This guiding principle is crucial for steering the company toward its long-term goals and ensuring alignment across its various business segments.

Core Component 1: Client-Centric Approach

Equitable Holdings prioritizes a client-centric approach, focusing on understanding and addressing the unique needs of its customers. This commitment is reflected in their extensive portfolio of products, including retirement solutions, investment management, and insurance services.

As of September 30, 2024, Equitable Holdings managed approximately $298.99 billion in total assets, showcasing its capacity to serve a broad client base effectively. Additionally, the company reported net income of $808 million for the nine months ended September 30, 2024, demonstrating its financial strength and ability to reinvest in client services.

Core Component 2: Innovation and Excellence

Innovation is a cornerstone of Equitable Holdings' mission, as the company strives to develop cutting-edge financial products and services. This focus on excellence ensures that clients receive the most effective solutions tailored to their financial goals.

In 2024, Equitable Holdings launched several new investment products that leverage advanced analytics and technology to enhance client engagement and satisfaction. For example, the company's investment management segment generated revenue of $3.8 billion in the nine months ended September 30, 2024, reflecting a robust demand for innovative solutions.

Core Component 3: Social Responsibility

Equitable Holdings is committed to social responsibility, integrating sustainability and ethical practices into its business operations. The company believes in giving back to the communities it serves, which is evident in its various corporate social responsibility initiatives.

As part of its social responsibility efforts, Equitable Holdings contributed $10 million to community development programs in 2024, focusing on financial literacy and access to financial services for underserved populations. This commitment not only enhances the company's reputation but also aligns with its mission to empower clients and communities.

Vision Statement of Equitable Holdings, Inc. (EQH)

Vision Components of Equitable Holdings, Inc. (EQH)

The vision statement of Equitable Holdings, Inc. (EQH) is centered around several key components that reflect the company's strategic direction and aspirations for 2024. Each component focuses on enhancing customer experience, promoting financial well-being, and fostering sustainable growth.

Customer-Centric Approach

Equitable Holdings emphasizes a customer-centric approach in its vision statement. The company aims to prioritize the needs and preferences of its clients, ensuring that they receive tailored financial solutions. This commitment is reflected in their financial performance, with total revenues for the nine months ended September 30, 2024, amounting to $8.816 billion, compared to $8.358 billion for the same period in 2023.

Financial Well-Being

Another critical component of EQH's vision is the promotion of financial well-being among its clients. The company seeks to empower individuals with the knowledge and tools necessary to achieve their financial goals. This commitment is evident in the company's investment strategies, which include a diversified portfolio of fixed maturities valued at approximately $81.7 billion as of September 30, 2024.

Sustainable Growth

Equitable Holdings is dedicated to sustainable growth, focusing on long-term value creation for stakeholders. The company reported total assets of $298.989 billion as of September 30, 2024, reflecting its robust financial position. This growth is supported by a strategic approach to managing liabilities, with policyholders' account balances totaling $107.433 billion.

Innovation and Technology

The vision of Equitable Holdings also highlights the importance of innovation and technology in delivering superior financial services. The company is investing in digital tools and platforms to enhance customer engagement and streamline operations. As of September 30, 2024, net derivative gains were reported at ($2.298 billion), indicating active management of financial instruments to support their investment strategy.

Diversity and Inclusion

Lastly, EQH's vision underscores the significance of diversity and inclusion within its workforce and client base. The company believes that diverse perspectives drive better decision-making and innovation. In 2024, the company's employee compensation and benefits expenses amount to $1.768 billion, reflecting its commitment to fostering an inclusive workplace.

Core Values of Equitable Holdings, Inc. (EQH)

Integrity

Integrity is the foundation of Equitable Holdings, Inc. (EQH). It emphasizes the importance of honesty and transparency in all business dealings. EQH demonstrates its commitment to integrity through rigorous compliance programs and ethical business practices.

In 2024, EQH has invested approximately $10 million in compliance and ethics training for employees across all levels, ensuring adherence to regulatory standards and ethical guidelines. This initiative has led to a 30% decrease in compliance-related incidents compared to the previous year.

Inclusivity

Inclusivity at EQH fosters a diverse workplace where all employees feel valued and included. The company has implemented several programs aimed at promoting diversity and inclusion, including employee resource groups and mentorship programs for underrepresented groups.

As of 2024, EQH reports that 45% of its workforce identifies as part of a minority group, with women holding 50% of leadership positions. The company has allocated $5 million to diversity and inclusion initiatives this year, aiming to enhance recruitment and retention of diverse talent.

Collaboration

Collaboration is vital for EQH's success, encouraging teamwork and partnership across departments. EQH has established cross-functional teams to drive innovation and improve service delivery.

In 2024, the company launched a collaborative platform that increased project completion rates by 25%, enabling faster decision-making and enhanced communication among teams. The investment in this platform was approximately $3 million, reflecting EQH's commitment to fostering a collaborative work environment.

Excellence

Excellence represents EQH's pursuit of high standards in service and performance. The company focuses on delivering exceptional value to its clients and stakeholders through continuous improvement practices.

In 2024, EQH achieved a net promoter score (NPS) of 76, reflecting a 10-point increase from the previous year, indicating higher customer satisfaction. The company has invested $8 million in service enhancement technologies, including AI-driven customer support systems, to maintain its commitment to excellence.

Accountability

Accountability is a core value at EQH, ensuring that employees take responsibility for their actions and decisions. The company promotes a culture of accountability through clear performance metrics and regular feedback mechanisms.

As of 2024, EQH has reported a 20% improvement in employee performance ratings following the introduction of a new performance management system. This system, costing $1.5 million, emphasizes goal setting and accountability, aligning individual contributions with company objectives.

Updated on 16 Nov 2024

Resources:

1. Equitable Holdings, Inc. (EQH) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Equitable Holdings, Inc. (EQH)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Equitable Holdings, Inc. (EQH)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.