Turnkey Solution Matched to Client Investment Objectives, Risk Tolerance and Outlook
PLEASANT HILL, Calif., May 2, 2011 /PRNewswire via COMTEX/ -- Genworth Financial Wealth Management (GFWM), a turnkey asset management provider and subsidiary of Genworth Financial, Inc. (NYSE: GNW), introduces a streamlined approach to diversifying investments, Genworth Portfolio Solutions (GPS). GPS enables advisors to tap into GFWM's four asset allocation approaches, plus alternative investments, in a single, easy-to-implement, low-minimum package.
While many investors diversify across asset classes such as stocks and bonds, this type of diversification has historically proven ineffective during pronounced market declines or times of volatility. The decisions surrounding asset allocation ultimately impact portfolio performance. These decisions can be complex and risky, particularly when emotions are involved. GFWM designed GPS strategies to help advisors streamline the decision-making process with investors in an attempt to mitigate risk.
In contrast to solely relying on simple stock-and-bond diversification, GPS strategies incorporate a variety of asset allocation approaches, including strategic, tactical constrained, tactical unconstrained, and absolute return. Some of these asset allocation approaches aim to capture the tailwinds of rising markets and others seek to help protect portfolios from volatility and mitigate downside risk. GPS combines approaches to create a unified strategy that is positioned for both up and down markets.
GPS strategies can also be matched by an advisor to each client's investment objective, risk tolerance and the long-term market outlook to identify an investment mix suited to their individual goals. The minimum investment is $25,000.
"The idea is that the advisor can use a turnkey investment solution to deliver a fully diversified portfolio to a client regardless of size or situation," said Mike Abelson, senior vice president of Investment & Product Management. "As always, advisors play the valued role of portfolio navigators, helping each client define goals and outlook, and determining the best course for moving toward their desired destination."
GPS expands new business opportunities for advisors by providing additional choices to serve more clients. As an additional benefit, GFWM expects this offering to foster improved practice management because the use of a packaged solution will afford advisors more time to focus on client development and service.
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 over $20 billion in assets on its platform and helps more than 6,000 advisors meet their clients' wealth management and investment needs. For more information, visit www.genworthwealth.com.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,000 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 through three segments: Retirement & Protection, US Mortgage Insurance and International. 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 via postings 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.
SOURCE: Genworth Financial, Inc.