Genworth Financial Wealth Management, a subsidiary of Genworth Financial, has launched a "business transition services" program, which provides lending services for advisors seeking to expand their practices.

The new offering supports advisors who are considering a transition in their business, including growth via acquisition, eventual transition or retirement, the firm said.

Matt Matrisian, senior vice president and director of practice management, said the availability of lending for qualified advisors is an “important part” of the program in light of the current financing environment.

The firm is collaborating with The Bancorp Bank - a wholly-owned subsidiary of The Bancorp - to offer financing access to advisors who want to use the Genworth platform to acquire another advisory business.

In order to qualify for the lending program, advisors must meet specific qualification requirements from both Genworth and The Bancorp Bank. Advisors with an “established Genworth relationship” also have access to the program’s educational materials and services, the firm said.

GFWM has some $20 billion assets on its platform and assists around 6,000 advisors. The firm provides independent financial advisors with a platform including investment management, client relationship tools, and practice management programs.