RICHMOND, Va., April 2, 2012 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) announces it has closed the sale of Genworth Financial Investment Services, its tax and accounting financial advisor unit, on April 2, 2012 to Cetera Financial Group, Inc. Proceeds from the transaction will be used for general corporate purposes.
Gurinder Ahluwalia, president and chief executive of Genworth Financial Wealth Management said, "We thank the team at Genworth Financial Investment Services and the advisors who help clients achieve their life goals. We look forward to serving them as wealth management clients now that they are part of Cetera Financial Group."
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advisor-based wealth management -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth has approximately 6,400 employees and operates through three divisions: Insurance and Wealth Management, which includes U.S. Life Insurance, Wealth Management, and International Protection segments; Mortgage Insurance, which includes U.S. and International Mortgage Insurance segments; and the Corporate and Runoff division. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, Inc., 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 Financial, Inc. 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.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to our plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts as well as statements identified by words such as expects, anticipates, intends, plans, believes, seeks, estimates, or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.
SOURCE Genworth Financial, Inc.
Investors, Georgette Nicholas, +1-804-662-2248, firstname.lastname@example.org, or Media, Al Orendorff, +1-804-662-2534, email@example.com, www.genworth.com/presscenter