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Genworth Courts Fee-Based Advisors

By Staff Writer

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A financial services company has unveiled a major service expansion.

Genworth Financial Investment Services, Schaumburg, Ill., a unit of Genworth Financial Inc., Richmond, Va., has launched the Managed Wealth ADVANTAGE fee-based money management program.

The program provides access to about 150 mutual funds from about 60 fund families, along with access to 7 asset-allocation models.

Genworth Financial Information also is providing portfolio monitoring services, due diligence services, automatic rebalancing services, and quarterly performance reports.

A unit of Charles Schwab & Company Inc., San Francisco, will be the custodian for the program, and a unit of PNC Financial Services Group Inc., Pittsburgh, will provide the technology and subadvisory services for the program, Genworth says.