The GPS Solutions portfolio suite incorporates the strategies of multiple portfolio strategists within single accounts, offering financial advisers on the Genworth Wealth Management platform multi-strategist solutions to help grow or preserve wealth, generate income or serve a variety of specific investment goals.
Advisers can use the portfolios to provide either a comprehensive investment solution directed at a broad goal, or a targeted complement to other holdings. GPS Select Solutions joins the firm’s existing GPS Solutions (formerly Genworth Portfolio Solutions) as part of the family of Guided Portfolios, which are goal-oriented, turnkey investment accounts with built-in diversification across asset-allocation approaches and alternative investments.
Financial advisers using the Genworth platform want effective and streamlined investment solutions from the firm, said Gurinder S. Ahluwalia, president and chief executive of Genworth Wealth Management. “Advisers 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,” Ahluwalia said.
According to Michael Abelson, senior vice president of investment and product management at Genworth Wealth Management, the portfolios reflect Genworth’s understanding of the investment strategists on their platform and combine their thinking to serve specific investment objectives.
“They deliver sophisticated strategies of multiple portfolio strategists with the convenience of a single account, accompanied by 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,” Abelson said.
The portfolios align with client goals such as growing or distributing wealth, generating income, reducing volatility and reducing downside risk.
Genworth Financial Wealth Management has approximately $20 billion in assets on its platform and is a subsidiary of Genworth Financial.
More information is available here.