Genworth Financial Wealth Management has launched a business transitions program, including lending services for advisors looking to expand their practices.

The company has developed its Business Transition Services program to support advisors who are considering a transition point in their business, whether they are looking to grow through acquiring another practice or are planning their eventual transition or retirement, Matt Matrisian, senior vice president and director of practice management for GFWM, said.

"An important part of this program is the availability of lending for qualified advisors. Given the financing environment, we felt it meaningful to combine a lending offer with services and tools around transitions," Matrisian said.

GFWM is working with Bancorp Bank, a wholly owned subsidiary of Bancorp Inc., to provide access to financing for advisors who want to work with the Genworth platform and who are looking for assistance to acquire another advisory business. To be eligible for the lending program, advisors must meet certain qualifications of GFWM and Bancorp Bank.

Advisors with an existing relationship with Genworth will also have access to the firm's educational materials and services. Manuals and sample forms and agreements are available to assist with succession and transition planning, providing advisors with tools and services to build a customized plan, according to Genworth. Genworth consultants will also be available to help advisors build and evaluate practice value.

-Jim McConville