PLEASANT HILL, Calif., July 17, 2012 /PRNewswire/ -- Genworth Financial Wealth Management, Inc., a subsidiary of Genworth Financial, Inc. (NYSE: GNW), today announced it has expanded its investment platform for independent financial advisors in response to current market environment and investor needs.
The firm has added eight new strategies to address three challenges faced by financial advisors and their clients by providing: 1) income distribution in a protracted, low-return environment; 2) additional investments to diversify and build wealth in volatile markets and 3) choices that assist investors with "staying the course" to achieve results as financial environments change.
The portfolio strategists joining the platform are: BlackRock Financial Management, Inc.; DoubleLine Capital, LP; F-Squared Investments; and Forward Management, LLC. Existing strategists adding new strategies to the platform are Altegris Advisors; J. P. Morgan Asset Management; New Frontier Advisors, LLC; and Stadion Money Management, Inc. (See appendix for detail).
Among the new strategies are several multi-asset income solutions that can help meet the needs of Baby Boomers as they near or enter their retirement years. For advisors who seek alternative investments, which include higher risk-return possibilities, the expanded platform also introduces a multi-strategy approach from its existing strategist Altegris.
"The new investment solutions enhance advisors ability to help meet investors' needs, regardless of their life stage," said Genworth Wealth Management CEO Gurinder Ahluwalia in making the announcement today. "This is increasingly important as demographics shift, creating huge demand for income to meet everyday expenses in retirement. Investors are now dealing with longer lifetimes, funding healthcare over decades of retirement and providing legacies to family and others. We're very excited that advisors on our platform can now, more than ever, help their clients with their income and wealth legacy goals."
Michael Abelson, the firm's Senior Vice President, Investment & Product Management, emphasized how its expanded platform helps advisors deal with challenges in the investment marketplace: "As our company has evolved, we've provided investment approaches that help advisors diversify portfolios in spite of volatile markets. Our platform expansion adds to that, and gives advisors the flexibility to create portfolios that can provide income, in addition to risk management, according to their clients' needs. This will be especially helpful in working with clients who have, understandably, moved their funds to the sidelines because of today's market volatility."
In addition to multi-asset income and alternative investment strategies, other new solutions being introduced are aimed at investors who seek to minimize the effects of volatile markets, preserve capital and limit downside risk. These additions broaden the choices that advisors can incorporate to help create wealth using Genworth Wealth Management's philosophy of mixing asset allocation approaches to match each client's goals and risk tolerance.
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. GFWM offers 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. (NYSE: GNW), 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 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; Global 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.
New Portfolio Strategists
Meeting the Needs of Today's Investors
New Capital Appreciation strategies
These strategies seek to capture market gains while minimizing risk and limiting down-market participation.
F-Squared (new to platform)
New Multi-Asset Income strategies
These strategies, for clients nearing or already in retirement, emphasize either income generation or both income generation and long-term capital appreciation.
BlackRock (new to platform)
Forward (new to platform)
J.P. Morgan (existing)
New Frontier (existing)
New Low Volatility strategy
This strategy seeks to provide low-single-digit volatility and an overriding bias toward capital preservation.
DoubleLine (new to platform)
New Alternative strategies
In this multi-strategy approach, three separate portfolios are created with varying risk profiles, each seeking to deliver maximum return for the amount of risk being taken.
Altegris Advisors (existing)
SOURCE Genworth Financial, Inc.
Annette Bronkesh, Bronkesh Associates, +1-973-778-8648, firstname.lastname@example.org; or Tom Topinka, Genworth Financial, Media Relations, +1-804-662-2444, email@example.com