RICHMOND, Va., Aug. 18 /PRNewswire-FirstCall/ -- Genworth Financial, Inc.
(NYSE: GNW) today announced the launch of its new wealth management division,
Genworth Financial Wealth Management, Inc. The announcement completes the
integration of two Genworth companies, AssetMark Investment Services, Inc. and
Genworth Financial Asset Management. Genworth completed its acquisition of
AssetMark in October 2006.
"The integration of AssetMark and Genworth Financial Asset Management
creates a unique opportunity to bring together two companies with deep roots
in the independent advisory business and a shared vision for the future,"
according to Ron Cordes, co-chairman, Genworth Financial Wealth Management.
"We were able to examine what each company did well individually, blend the
best of both platforms and create new tools and services to meet the evolving
needs of independent financial advisors."
"The result," said Gurinder Ahluwalia, co-chairman, Genworth Financial
Wealth Management, "is a single platform offering industry leading
comprehensive investment management, client relationship management and
practice management solutions."
Genworth Financial Wealth Management offers independent financial advisors
one of the most comprehensive fee-based investment management platforms in the
industry, including a choice of eleven Portfolio Strategists and a wide array
of investment management firms representing some of the most innovative
Client relationship management on the platform consists of a high-touch
process backed by robust technology and extensive client communication tools
designed to help financial advisors manage their business seamlessly. Genworth
Financial Wealth Management's award-winning practice management programs are
based on cutting-edge research and extensive experience. Currently, the newly
combined firm boasts more than 4,500 financial advisors and $18 billion in
assets under management.
"Financial advisors and their clients have increasingly complex needs,"
said Pam Schutz, president and CEO of Genworth's Retirement and Protection
division. "By bringing together the strengths of both predecessor companies
backed by the Fortune 500 strength of Genworth, Genworth Financial Wealth
Management offers a depth and breadth of innovative solutions and support
designed to help financial advisors succeed."
"We're excited by the potential represented by Genworth Financial Wealth
Management," Cordes said. "That potential is summed up in our mission --
'Helping Advisors Build Great Businesses'. We believe we are uniquely
positioned to do just that."
About Genworth Financial Wealth Management, Inc.
Genworth Financial Wealth Management, a Genworth Financial Company, is an
investment management and consulting firm dedicated to helping financial
advisors build great businesses. Genworth Financial Wealth Management
represents the merger of two Genworth subsidiaries, AssetMark Investment
Services and Genworth Financial Asset Management, and provides one of the most
comprehensive fee-based investment management platforms in the industry, in
addition to client relationship management tools and practice management
programs. For more information, visit www.genworthwealth.com.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading public Fortune 500
global financial security company. Genworth has $114 billion in assets and
employs approximately 7,000 people in 25 countries. Its products and services
help meet the investment, protection, retirement and lifestyle needs of over
15 million customers. Genworth operates through three segments: Retirement and
Protection, International and U.S. Mortgage Insurance. Its products and
services are offered through financial intermediaries, advisors, independent
distributors and sales specialists. Genworth Financial, which traces its roots
back to 1871, became a public company in 2004 and is headquartered in
Richmond, Virginia. For more information, visit http://www.genworth.com.
SOURCE Genworth Financial, Inc.
Investors: Alicia Charity, +1-804-662-2248,
or Media: Kirby Kriz, +1-804-662-2579,
both of Genworth
Web site: http://www.genworth.com