The firm, which manages about $20 billion in assets, is offering solutions to help grow or preserve wealth, generate income, and reduce volatility and downside risks.
With exposure in active mutual funds, ETFs, and evolving markets, the new offerings are structured towards giving advisors more variety in diversification choices.
“Increasingly, financial advisors using our platform are looking to us – based on our expertise, research and rigorous due diligence – to offer powerful, yet streamlined, investment solutions that reflect our diversification philosophy,” said Gurinder S. Ahluwalia, president and CEO of Genworth Wealth Management. “Advisors can build portfolios themselves by combining strategies from our purpose-built roster, and now they can use Guided Portfolios, to serve greater numbers of clients and prospects.”
GPS Solutions were introduced in May 2011 and have $1.6 billion in assets as of December. The success of the product led the firm to create GPS Select Solutions to round out the Guided Portfolios offering, a move in line with demands of advisors and investors looking for a means to conservatively increase yield while protecting from drastic downside.
“GPS Select Solutions reflect our deep understanding of the strategists on our platform and combine their thinking to serve specific investment objectives,” said Michael Abelson, senior vice president of Investment & Product Management. “They deliver sophisticated strategies of multiple portfolio strategists with the convenience of a single account, accompanied by numerous benefits including an all-in-one fee; a single statement; visibility of underlying holdings and allocation changes; transparency into the investment process; and ongoing monitoring and rebalancing of assets.”