Acquisition Adds New Technology to Power
Financial Advisor Solutions for Franklin Templeton
Investment Underscores Franklin Templeton’s
Strategic Focus on Fintech
AdvisorEngine Will Continue to Build upon
its Open-Architecture Platform Strategy
Franklin Resources, Inc. [NYSE:BEN], a global investment
management organization operating as Franklin Templeton, today
announced that it has acquired AdvisorEngine Inc., a digital wealth
platform and provider of technology and consulting services to more
than 1,200 financial advisory firms in the United States that
manage over $600 billion in assets. The transaction brings
compelling benefits to both companies and the firms they serve
across wealth management channels, including registered investment
advisors (RIAs), broker dealers, banks and insurance companies.
AdvisorEngine will work closely with Franklin Templeton to
co-create new proprietary solutions, including goals-based
financial planning tools, digital portfolio construction analytics
and research-enabled practice management services to help financial
advisors enhance their wealth management offerings.
“We’re in the midst of the fourth industrial revolution, and
technological advances are reshaping how financial solutions are
delivered,” said Jenny Johnson, president and CEO of Franklin
Templeton. “As a result, we continue to invest in technology and
teams to enhance our offerings and enable us to innovate at the
nexus of asset management, wealth management and technology. I’m
excited to welcome the AdvisorEngine team to Franklin Templeton and
look forward to what we will achieve together.”
AdvisorEngine will continue to build out its financial
experience platform, which brings together advisor experience (AX),
business operations experience (BX) and client experience (CX) in
one place. The platform powers client relationship management
(CRM), portfolio management, reporting, marketing and digital
wealth solutions for financial advisory firms.
“Selecting a partner was about finding an organization that is
aligned to our vision and culture and positioned to contribute
expertise that will make our platform even smarter. Upon meeting
Jenny Johnson and the leadership team, it became clear that
Franklin Templeton is the right fit,” said Rich Cancro,
AdvisorEngine founder and CEO. “We’re now better positioned than
ever to help advisors transform how they do business, connect more
deeply with clients, grow assets and scale their operations.”
Harshendu Bindal, Head of Digital Strategy and Wealth Management
at Franklin Templeton, said, “Our ongoing focus is on adding a
digital dimension to how we do business and is an extension of our
70-year legacy of being a true thought partner to our clients.
AdvisorEngine will enable financial advisors in the U.S. to access
and implement our best thinking across portfolio construction and
practice management. This acquisition is an important part of our
broader global initiative to enhance support for financial advisors
via digital servicing capabilities.”
AdvisorEngine has achieved marketplace differentiation by
helping firms deliver their value proposition at scale using smart
automation. A major emphasis of future product development will be
deepening these smart automation capabilities – especially while
building out the next generation of the company’s CRM product,
Junxure.
“Our next phase of product development has the potential to
change the paradigm of what a wealth management platform can be,”
said Craig Ramsey, AdvisorEngine Chief Operating Officer. “We are
bringing down the walls between CRM, portfolio management and
productivity software. As this happens, advisors will deliver on
the promise of ‘personalization-at-scale’ in a way that has not
been possible previously.”
In addition to having access to the breadth and depth of
Franklin Templeton’s investment capabilities, AdvisorEngine will
continue to build upon its open-architecture platform strategy by
establishing new relationships with custodians, financial
technology providers and asset managers. AdvisorEngine’s leadership
team will remain in place and continue to operate the business as
an independent subsidiary of Franklin Templeton.
The Asset & Wealth Management Investment Banking group at
Raymond James & Associates served as the exclusive financial
advisor to AdvisorEngine on the transaction. Additional terms of
the transaction were not disclosed.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization operating, together with its subsidiaries,
as Franklin Templeton. Franklin Templeton’s goal is to deliver
better outcomes by providing global and domestic investment
management to retail, institutional and sovereign wealth clients in
over 170 countries. Through specialized teams, the company has
expertise across all asset classes, including equity, fixed income,
alternatives and custom multi-asset solutions. The company’s more
than 600 investment professionals are supported by its integrated,
worldwide team of risk management professionals and global trading
desk network. With employees in over 30 countries, the
California-based company has more than 70 years of investment
experience and over $580 billion in assets under management as of
March 31, 2020. For more information, please visit
franklintempleton.com.
About AdvisorEngine
AdvisorEngine is creating a future of financial advice that is
personal, scientific and beautiful. Founded in 2014, the company
provides technology and consulting services to over 1,200 wealth
management firms in the United States representing over $600
billion of assets under management. Its financial experience
platform serves as a unified operating system across advisor
experience (AX), business operations experience (BX) and client
experience (CX). Modules include prospecting and client engagement
tools, paperless client onboarding, account aggregation, CRM,
goals-based financial planning tools, model portfolios, portfolio
construction analytics, compliance monitoring tools, performance
reporting and fee billing. From the company’s offices in New York,
NY and Raleigh, NC, the AdvisorEngine team strives to fulfill six
ideals through their work: camaraderie, clarity, curiosity,
creativity, crushing it and celebration. For more information,
please visit advisorengine.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200506005278/en/
For AdvisorEngine:
Craig Raskin FiComm Partners Craig.raskin@ficommpartners.com
(203) 414-9721
For Franklin Templeton:
Stacey Coleman Corporate Communications
stacey.coleman@franklintempleton.com (650) 525-7458
Becky Radosevich Corporate Communications
rebecca.radosevich@franklintempleton.com (212) 632-3207
Brian Sevilla Investor Relations
brian.sevilla@franklintempleton.com (650) 312-4091
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