PLEASANT HILL, Calif., April 11, 2012 /PRNewswire/ -- Genworth Financial Wealth Management (GFWM), a subsidiary of Genworth Financial, Inc. (NYSE: GNW), today announced that its Genworth Portfolio Solutions (GPS) strategies have crossed the $1 billion mark less than a year after the May 2011 launch. GPS reflects GFWM's philosophy of diversifying client assets across various investment approaches -- some designed for up markets and some positioned for down markets -- allowing advisors to navigate changing markets with confidence.
Like GFWM's turnkey, open architecture platform, GPS strategies encompass a broad range of asset allocation approaches, as well as alternative investment strategies, each of which invests in a wide variety of global asset classes. The difference is that GPS has broader investment firm diversification than most clients have been able to attain by selecting from among the investments available on the platform. As a result, clients of all sizes may access more viewpoints and investments by using a single GPS solution.
"GPS has resonated with advisors who appreciate having another choice for combining the asset allocation approaches on the GFWM platform in one easy-to-use account," said Mike Abelson, senior vice president of Investment & Product Management. "As always, advisors help each of their clients define their goals and outlook as a foundation for choosing a specific strategy. With GPS, the advisor then leverages GFWM's expertise to select and oversee the underlying investments as well as rebalance the portfolio over time."
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.
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.
SOURCE Genworth Financial, Inc.