Centurion is ranked fifth in terms of third party mutual fund and separate account wrap distribution, according to GE. The company also provides money manager screening and monitoring, pre-determined asset allocation strategies, and record keeping and client services through a dedicated trust company.
The acquisition adds to GEs move into the third party mutual fund and separate account wrap market for independent fee-based advisors. GE will keep Centurion in tact in terms of operations and staff, a company spokesperson said. The details of the transaction were not disclosed.
