The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Genworth's TAMP Rebrands, But With an Old Name Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 07, 2013

Genworth's TAMP Rebrands, But With an Old Name

Reported by Tommy Fernandez

Genworth Wealth Management is developing a new identity, but with a name from its past.

The $20 billion TAMP announced that it is rebinding itself as AssetMark, Inc.

The firm also unveiled a new tagline, Wealth. Independence. Purpose., as well as a new website, www.assetmark.com.

Further, Genworth Financial Asset Management has been renamed Savos Investments, while Genworth Trust Company has been renamed AssetMark Trust Company.

“AssetMark serves advisors who make a difference in the lives of their clients,” stated Gurinder Ahluwalia, President and Chief Executive Officer, AssetMark. “We feel it’s time to put the ‘serve’ back in financial services and this is key to how we think about our business model.”

Two PE firms, the New York-based Aquiline Capital Partners and the San Francisco-based Genstar Capital bought Genworth Wealth Management from Genworth Financial in March for $412.5 million. The sale at the time had included both the investment management and consulting platform Genworth Financial Wealth Management (“GFWM”), and the alt shop Altegris, which is is charting its own course.

The name AssetMark dates back to the company's early days in the 1990s, according to an excellent history of the firm provided by Brooke Southall of RIABiz. Southall reports that much of the company was established in 1996 and was run as AssetMark Investment Services in those early years as Ron Cordes, Brian R. O’Toole and Richard Steiny.

Here is the press release:
Company Press Release


Newly Independent Industry Leader Delivers Innovative Investment Solutions to Support Financial Advisors and the Evolving Needs of Their Clients
CONCORD, CA — November 6, 2013 —Genworth Wealth Management today announced its new name: AssetMark, Inc. The firm, a leading strategic provider of innovative investment and consulting solutions serving financial advisors, became independent in September. Concurrent with the re-branding, AssetMark also unveiled its new tagline – Wealth. Independence. Purpose.

“AssetMark serves advisors who make a difference in the lives of their clients,” said Gurinder S. Ahluwalia, President and Chief Executive Officer, AssetMark. “We feel it’s time to put the ‘serve’ back in financial services and this is key to how we think about our business model.”

AssetMark organizes its offering around the three core components of the independent advisor’s practice: Investment Management; Client Management; and Practice Management. The firm’s proven processes and integrated network of consulting and support resources built over the past two decades help advisors focus their time and attention where it matters most— on their clients.

“Our firm was built by advisors, for advisors and through working with them so closely over the years, one thing has become clear to us,” adds Ahluwalia. “There are no shortcuts to investing success. We remain committed to providing an open architecture suite of choices designed to help advisors navigate volatile markets and manage client emotions.” Advisor-built and advisor-focused, AssetMark’s priorities are targeted on delivering the solutions and efficiency demanded by the advisors it serves. In the coming months, the firm will introduce new investment solutions and improved processes that bring additional innovation and efficiency to managing client assets. The strong leadership team, with a track record of innovation focused on advisors spanning nearly 20 years, continues to drive advisor success and investor outcomes.

The firm also unveiled its new website at www.assetmark.com to showcase how it supports independent advisors and their clients.

Among other changes at AssetMark is a new name for Genworth Financial Asset Management, now known as Savos Investments. Savos continues to employ an investment philosophy grounded in assessing and navigating the fundamental drivers of risk and return in capital markets. Additionally, the firm’s trust company, formerly Genworth Trust Company, will now be known as AssetMark Trust Company.

About AssetMark, Inc.

AssetMark, Inc., formerly Genworth Financial Wealth Management, Inc., is an independent strategic provider of innovative investment and consulting solutions serving financial advisors. AssetMark provides investment, relationship and practice management solutions that advisors utilize in helping clients achieve their investment objectives and life goals.

The firm has approximately $20 billion in assets and a history of innovation spanning nearly 20 years. AssetMark works in collaboration with independent advisors who make a difference in the lives of their clients. For more information, visit www.assetmark.com.

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. Director Discussion Series - Open Forum via Zoom, September 29
  2. IMEA roundtable - Portfolio Construction, September 29
  3. MMI webinar - The Future of Marketing is Changing ... Are You Ready?, September 29
  4. IDC Speaker Series - A Conversation with Roger Ferguson, October 3
  5. IDC webinar - A Conversation with Roger Ferguson, Jr., October 3
  6. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  7. Nicsa Fearless Leadership Symposium, Oct 6-7
  8. 7th Annual FUSE Forum, October 6
  9. 2022 ICI Securities Law Developments Conference - day 1, October 11
  10. MFDF Director Discussion Series - Open Forum (San Francisco), October 12
  11. 2022 ICI Securities Law Developments Conference - day 2, October 13
  12. MFDF In Focus: ESG Data Requirements - What Directors Need to Know, October 19
  13. 2022 MMI Annual Conference, Oct 19-21
  14. 2022 IDC Fund Directors Conference, Oct 24-26
  15. 18th annual Expect Miracles Wine & Spirits Event, October 27
  16. Buford Capital Securities Litigation Symposium, November 1
  17. IMEA All-Council Fall Summit, Nov 2-3
  18. Nicsa 2022 General Membership Meeting, Nov 2-3
  19. Tiburon CEO Summit XLIII, Nov 7-9
  20. 2022 ICI Tech Summit, Nov 8-9
  21. UCITS & AIFMD for U.S. Managers - New York, Nov 8-9
  22. 2022 MMI Distribution Leadership Forum, Nov 9-10
  23. MFDF Asset Management Industry Update and Director Governance Trends, November 10
  24. 3rd Annual ETFGI Global ETFs Insights Summit - United States, Nov 15-16
  25. 2022 MMI Alternative Investments Forum, November 16
  26. MFDF webinar - Mutual Fund CCO Compensation: The MPI Annual Survey Update, November 16

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use