Genworth Financial in Richmond, Va., has launched a new wealth management division, Genworth Financial Wealth Management. The launch completes the integration of two Genworth companies: AssetMark Investment Services, which it acquired in October of 2006, and Genworth Financial Asset Management.
The newly combined company already has more than 4,500 financial advisers, as well $18 billion in assets under management. It will offer a fee-based investment management platform with a choice of 11 portfolio strategists.
The integration of AssetMark and Genworth Financial Asset Management creates a unique opportunity to bring together two companies with deep roots in the independent advisory business and a shared vision for the future, said Ron Cordes, co-chairman of Genworth Financial Wealth Management. We were able to examine what each company did well individually, blend the best of both platforms and create new tools and services to meet the evolving needs of independent financial advisers.