PLEASANT HILL, Calif., Feb. 10, 2011 /PRNewswire via COMTEX/ -- Reflecting its commitment to helping financial advisors offer a broad range of investment options to their clients, Genworth Financial Wealth Management (GFWM), a subsidiary of Genworth Financial, Inc. (NYSE: GNW), and an industry-recognized turnkey asset management provider, announces it has added alternative investments specialist Altegris Advisors as an additional portfolio strategist for client accounts.
A portfolio strategist with exposure to alternatives is a building block in the diversification model GFWM shares with advisors. By adding Altegris Advisors, LLC, the GFWM platform now provides financial advisors the opportunity to include strategies that have historically uncorrelated performance to traditional asset classes like stocks and bonds.
Altegris Advisors is an affiliate within the Altegris Companies, which offer a robust platform of alternative investments designed to meet the investment needs of individuals, institutions and financial professionals. With an institutional caliber Research and Investments Group focused solely on finding the best alternative investments, Altegris applies rigorous quantitative and qualitative analysis to identify, select and proactively monitor investment talent across an array of alternative investment strategies. Genworth Financial purchased the Altegris Companies in late 2010.
"We are excited to have Altegris, an industry leader in alternatives, as part of our platform," said Gurinder Ahluwalia, president of GFWM. "Their research and investment team has deep roots in the alternative investment industry." Ahluwalia adds, "The addition of Altegris reflects Genworth's commitment to providing comprehensive options to our financial advisors and their clients."
"Our Genworth partnership is a natural complement to their existing investment platform," said Jon Sundt, president and CEO of Altegris. "We believe our proven expertise in the world of alternatives can help financial advisors bring greater asset class diversification to client portfolios."
About Genworth Financial Wealth Management, Inc.
Genworth Financial Wealth Management, Inc., helps independent financial advisors build great businesses by providing comprehensive support across every phase of their operation. We offer a sophisticated investment management platform, robust client relationship tools and support, and innovative practice management programs that combine leading-edge industry research with real-world expertise and experience. A wholly owned subsidiary of Genworth Financial, Inc., GFWM has nearly $20 billion in assets on its platform and helps over 6,000 advisors meet their clients' wealth management and investment needs. For more information, visit http://www.genworthwealth.com/.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company. Genworth hasmore than $100 billion in assets and employs approximately 6,500 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operates throughthree segments: Retirementand 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 Genworth.com.From time to time Genworth releases important information viapostings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of Genworth.com.
The Altegris Companies have approximately $2 billion in client assets and provide clearing services to accounts representing $800 million in institutional assets. Altegris has developed a platform of premier alternative investments designed to meet the needs of investment professionals and investors seeking portfolio diversification through the use of historically low-correlated investments. The six-member investment committee features professionals from Altegris Advisors and other Altegris Companies with an average of 20 years of investment experience and deep backgrounds in alternatives. Genworth Financial purchased the Altegris Companies in late 2010. GFWM and Altegris Advisors are affiliated investment advisers registered with the Securities and Exchange Commission.
SOURCE: Genworth Financial, Inc.