Genworth Financial (GNW) added more than 500 registered representatives to its Genworth Financial Investment Services unit through a transaction with C.J.M. Planning of New Jersey.

Terms weren't disclosed, but Richmond, Va.-based Genworth said 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.

"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%, 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."

On Tuesday, Genworth rose 2 cents to $31.16.

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