Definitive Materials Filed by Investment Companies. (497)

GPS FUNDS II

GuideMark SM Global Real Return Fund

GuideMark SM Opportunistic Fixed Income Fund

GuidePath SM Strategic Asset Allocation Fund

GuidePath SM Tactical Constrained SM Asset Allocation Fund

GuidePath SM Tactical Unconstrained SM Asset Allocation Fund

GuidePath SM Absolute Return Asset Allocation Fund

GuidePath SM Multi-Asset Income Asset Allocation Fund

GuidePath SM Fixed Income Allocation Fund

GuidePath SM Altegris ® Diversified Alternatives Allocation Fund

(each, a “Fund” and collectively, the “Funds”)

SUPPLEMENT TO THE PROSPECTUS

DATED JULY 31, 2013

The date of this Supplement is September 3, 2013

The previously disclosed change in control of the advisor, Genworth Financial Wealth Management, Inc. (“GFWM”), has occurred. As a result, GFWM is now owned by Acquiline Capital Partners LLC and Genstar Capital, LLC.

The Board of Trustees of GPS Funds II has approved a new investment advisory agreement and, as applicable, new sub-advisory agreement(s) for each Fund (the “New Agreements”). The Funds also obtained all requisite shareholder approvals for the New Agreements. The expense limitation agreements that were already in place have been extended until July 31, 2015.

SHAREHOLDERS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

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