Genworth Wealth Management Offers Advisors New Retirement Plan to Capture Share of Growing Small Business Plan Market

PLEASANT HILL, Calif., Sept. 16, 2013 /PRNewswire/ -- To further support independent financial advisors with growing their businesses, Genworth Wealth Management is introducing a unique retirement plan offering designed to help advisors expand into the burgeoning retirement market.

Retirement Connections meets the complex challenges and demands facing business owners to provide simple yet sophisticated retirement plan choices to Americans who have increasingly low confidence in their retirement readiness. "With Retirement Connections, advisors can offer business owners a compelling solution to help them attract and retain valuable employees," said Michael Kim, SVP, Genworth Wealth Management. "The retirement plan market is steadily growing and the vast majority of plans are small- to mid-size, the sweet spot for advisors. By expanding into plan services, advisors may see opportunities open up for financial planning services and IRA rollovers."

Advisors who choose to work with Retirement Connections can bring the following to their small business owner clients:

• A range of choice to participants from low-cost ETFs to target-risk turnkey investment solutions
• Shared fiduciary responsibility with Genworth Wealth Management, the ERISA Section 3(38) investment manager that assumes liability for the investment selections and monitoring
• A team of specialists to support every aspect of the plan

"Broker-dealers we work with are finding this solution attractive because of the investment manager fiduciary responsibility delegation as well as the integrated offering," said David Pologe, director of strategic accounts for Genworth Wealth Management.

"We've integrated the third party administrator and recordkeeper so advisors and their clients have a single point of contact for plan administration," Kim said. "Given how time-pressed advisors are, this was important in building our offering."

About Genworth Financial Wealth Management, Inc.
Genworth Financial Wealth Management was sold by Genworth Financial, Inc. and is now a privately held company. GFWM strategically supports independent financial advisors who build great businesses by providing comprehensive support across the advisors' entire practice. 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. The firm has approximately $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.

Contact Information for Media
Annette Bronkesh 
Bronkesh Associates
973-778-8648
[email protected]

SOURCE Genworth Financial Wealth Management, Inc.