Defendant Name: AssetMark, Inc. (f/k/a Genworth Financial Wealth Management, Inc.)

Defendant Type: Subsidiary of Public Company
Public Company Parent: Genworth Financial, Inc.
SIC Code: 6311
CUSIP: 37247D10

Initial Case Details

Legal Case Name In the Matter of AssetMark, INc. (f/k/a Genworth Financial Wealth Management, Inc.
First Document Date 25-Aug-2016
Initial Filing Format Administrative Action
File Number 3-17504
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 204(a), 206(4) Advisers Act; Rules 204-2(a)(16), 206(4)-1(a)(5) Advisers Act

Resolutions

First Resolution Date 25-Aug-2016
Headline Total Penalty and Disgorgement $500,000

Related Documents:

IA-4508 25-Aug-2016 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order
On August 15, 2016, the SEC instituted settled cease-and-desist proceedings against AssetMark, Inc. (f/k/a Genworth Financial Wealth Management, Inc.) ("AssetMark"). The SEC stated: "This matter arises from misstatements made by registered investment adviser AssetMark to certain of its advisory clients, including clients with separately managed accounts invested in a strategy offered by F-Squared Investments, Inc. (“F-Squared”). AssetMark made misstatements by negligently relying on F-Squared’s materially inflated, and hypothetical and back-tested, performance track record that F-Squared misrepresented."