Genworth picks State Street as manager

Genworth Financial Wealth Management selected State Street Global Advisors to manage six portfolios using State Street’s SPDR exchange traded funds.
FEB 12, 2009
By  Bloomberg
Genworth Financial Wealth Management Inc. of Pleasant Hill, Calif., today selected State Street Global Advisors of Boston to manage a series of six tactical-asset-allocation portfolios using State Street’s SPDR exchange traded funds. These portfolios, which reflect a range of risk profiles, will be made available to high-net-worth clients via Genworth’s independent-financial-adviser distribution channel. “We are delighted to bring SSgA’s sophisticated institutional investment management skill to the retail market through an offering that combines their strengths in asset allocation and ETFs,” Michael Abelson, a senior vice president in product management at Genworth, said in a statement “The addition of State Street Global Advisors as a Genworth portfolio strategist will further enhance our industry-leading investment management platform.”

Latest News

Mercer Advisors lands third-biggest deal to date with Full Sail Capital
Mercer Advisors lands third-biggest deal to date with Full Sail Capital

With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.

Fintech bytes: FP Alpha rolls out estate insights feature
Fintech bytes: FP Alpha rolls out estate insights feature

Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.

Morgan Stanley, Atria job cut details emerge
Morgan Stanley, Atria job cut details emerge

Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.

Envestnet taps Atria alum Sean Meighan to sharpen RIA focus
Envestnet taps Atria alum Sean Meighan to sharpen RIA focus

The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.

LPL, Evercore welcome West Coast breakaways
LPL, Evercore welcome West Coast breakaways

The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.