Genworth Creates Wealth Management Division
Genworth Financial Inc. is integrating two of its companies to create a new wealth management division, Genworth Financial Wealth Management Inc., to serve independent financial advisors.
The division combines AssetMark Investment Services Inc. and Genworth Financial Asset Management. The new division will offer independent financial advisors a comprehensive, fee-based investment management platform that will include 11 portfolio strategists and an array of investment management firms designed to assist them in building business in a difficult market.
The platform for the combined firms includes technology that provides extensive client communication tools designed to assist the 4,500 financial advisors who are part of the new firm and who have
$18 billion in AUM.
Genworth Financial Wealth Management results in "a single platform offering industry-leading, comprehensive investment management, client relationship management and practice management solutions," says Gurinder Ahluwalia, co-chairman of Genworth Financial Wealth Management.
On the heels of the creation of the new division, Genworth Financial Wealth Management announced it is engaging Quantuvis Consulting, based in Redlands, Calif., to expand its practice management services for independent financial advisors. Quantuvis Consulting is a privately held firm that provides private engagement, group and project-based consulting programs, as well as brand and marketing consultation.
Fidelity Adds -Signature Capability
Fidelity Investments now offers Web-based, electronic signatures designed to help independent registered investment advisors automate new account openings. The new service will allow advisors and their clients to electronically sign all documents, including Fidelity's forms and advisor-specific forms required to establish and fund a brokerage account.
The capability has been made possible through Fidelity's relationship with DocuSign, a provider of e-signature technology and electronic contract execution services.
Curian Introduces Fixed Income Strategy
Curian Capital LLC, a registered investment advisor that provides a fee-based separately managed account platform to financial professionals, is expanding its custom style portfolios to include a new tax-exempt strategy as an option for investment in the fixed income asset class.
The new strategy utilizes exchange-traded funds that invest in high-quality municipal bonds representative of the broad U.S. municipal bond market. It is designed for those investors looking for greater diversification that also maximizes after-tax income.
Old Mutual Offers Life Insurance
Old Mutual, through OM Financial Life Insurance Company, is introducing Value Select, a fully guaranteed term life insurance policy.
The policy provides a level death benefit and rates that are guaranteed to remain level for the term, which is available in 15-, 20- and 30-year periods.
Various death benefit plans are available including family protection or business protection. Other riders that can be obtained include a children's insurance rider, a disability income rider, a waiver of premium rider, an ultimate income rider and the accelerated death benefit.
Zacks Partners ith FOLIOfn
Zacks Investment Management, an independent registered investment advisor based in Chicago, is entering the midsize retirement plan market using FOLIOfn Institutional's technology platform.
Using FOLIOfn's platform will enable Zacks to offer low-cost, separately managed accounts to the midsize retirement market for defined contribution and defined benefit plans. The accounts will have a simplified, transparent fee structure and complete transparency for holdings. The new account structure for the midsize retirement market is the same as that offered in Zacks' private client business.
OppenheimerFunds Enhances Retirement Products
OppenheimerFunds Inc. Retirement Services is launching enhanced tools for its retirement products that will be available to plan participants, plan sponsors and financial advisors. Many of the enhancements will be available through OppenheimerFunds' Pinnacle platform.
The new tools will help financial advisors offer targeted investments for retirement planning and allow them to help plan sponsors better manage their fiduciary responsibilities.