Genworth Financial Wealth Management (GFWM), a division of Genworth Financial, has reached an agreement with Pershing Advisor Solutions to provide financial advisers enrolled on its platform additional custody options for client accounts as well as to provide neutrality and choice across its open-architecture investment platform.

GFWM provides an ‘open-architecture’ investment platform, as well as practice management and client relationship management resources to financial advisers.

Under this new agreement, financial advisers on GFWM’s investment platform will have the option to custody Genworth Financial Asset Management (GFAM) active return opportunities and preservation strategy investment solutions with Pershing Advisor Solutions.

GFAM active return opportunities is a unified management account that tailors investment portfolios from up to 49 available asset classes and offers opportunistic investment management.

As an additional part of this agreement, financial advisers enrolled on the GFWM platform under the referral selling model, who previously had Genworth Financial Trust as a single custodian option, will now have Pershing Advisor Solutions as an additional custodian option.

Additionally, this new agreement will provide advisers enrolled on the GFWM platform under the referral model the option to custody mutual funds, ETFs, consolidated managed accounts and individually managed accounts at Pershing Advisor Solutions.

Gurinder Ahluwalia, president of GFWM, said: “We are very pleased to make these additional custody options available to financial advisers on our platform. This relationship reflects our commitment to a true ‘open-architecture’ platform and to providing financial advisers greater flexibility and choice.”

Mark Tibergien, CEO of Pershing Advisor Solutions, said: “The addition of these Genworth programs to Pershing Advisor Solutions’ comprehensive, integrated custodial offering, helps us provide greater choice to advisers seeking to build highly profitable practices.”