Genworth Financial Strengthens Financial Planning Unit Through Acquisition

RICHMOND, Va., Oct. 25 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. announced today the addition of more than 500 registered representatives to its Genworth Financial Investment Services unit through a transaction with C.J.M. Planning Corp., a New Jersey-based firm. Terms of the deal were not disclosed.

"We are committed to growing our financial planning and fee-based business in a very focused and strategic way," said Pam Schutz, president of Retirement Income and Investments for Genworth. "While we continue to grow our network of independent financial professionals consistently through referrals, the addition of this group increases our representative base by 25 percent, to a total of more than 2,400, and significantly expands our reach."

"C.J.M.'s representatives, many of whom are accountants and/or tax professionals, share the same approach to servicing clients and an entrepreneurial spirit that fits well with our organization and its growth plans," said Enrique Vasquez, head of Genworth's investment services group. "We are very pleased to welcome them."

C.J.M. was founded in 1971 by S. Charles Musumeci, Sr. The firm, under sons S. Charles Musumeci, Jr. and Joseph C. Musumeci, focused on helping people meet their most basic financial needs including retirement planning, funding children's educations, and achieving financial independence.

Genworth Financial Investment Services is a wholly-owned subsidiary of Genworth Financial, Inc., that is comprised of a full service broker/dealer, registered investment adviser and licensed insurance agency, with more than 2,400 representatives servicing tens of thousands of clients across the country. The organization was founded in 1981 to assist accountants in adding financial services to their practices and was acquired by Genworth in 1998.

Genworth Financial, Inc. is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage needs of more than 15 million customers, with operations in 24 countries, including the U.S., Canada, Australia, the U.K. and more than a dozen other European countries. For more information, visit http://www.genworth.com/.