Genworth Financial Wealth Management, the asset management provider and subsidiary of Genworth Financial, has launched a range of portfolio strategies that aim to introduce a streamlined approach to diversifying investments.

Genworth Portfolio Solutions aims to enable advisors to tap into GFWM's asset allocation approaches - which include strategic, tactical constrained, tactical unconstrained and absolute return - as well as alternative investments, in a single package, said the firm in a statement. Some of these asset allocation approaches aim to capture the tailwinds of rising markets and others seek to help protect portfolios from volatility and mitigate downside risk, the statement said. The minimum investment is $25,000.

The firm has the view that while many investors diversify across asset classes such as stocks and bonds, this type of diversification has historically proven ineffective during pronounced market declines or times of volatility.

"The idea is that the advisor can use a turnkey investment solution to deliver a fully diversified portfolio to a client regardless of size or situation," said Mike Abelson, senior vice president of investment and product management.

"As always, advisors play the valued role of portfolio navigators, helping each client define goals and outlook, and determining the best course for moving toward their desired destination," he added.

Genworth Financial Wealth Management has some $20 billion in assets on its platform.