Franklin Templeton Partners with vWise to Deliver Personalized Investment Solutions to Defined Contribution Participants
July 07 2021 - 9:28AM
Business Wire
Franklin Templeton today announced a strategic investment and
collaboration with California-based vWise, Inc. to integrate
technology, predictive analytics, behavioral finance insights and a
personalized investment solution designed to improve retirement
outcomes in Defined Contribution (DC) Plans. Franklin Templeton’s
patent-pending proprietary Goals Optimization Engine (GOETM),
combined with vWise’s Experience Platform, will use real-time
participant data to intelligently deliver personalized experiences
that drive participants to take actions that better prepare them
for their specific retirement journey. In addition, Mary Beth
Glotzbach, Senior Institutional DC Strategist for Franklin
Templeton, has been named to the vWise board.
“The workplace is the financial hub for many American workers
and our collaboration with vWise will enable us to deliver on our
commitment to personalization,” said Glotzbach. “We can now bring
to DC plan participants the same level of personalized
recommendations we’ve all come to expect in other aspects of our
lives. That’s especially important for participants approaching
retirement, who will benefit from a more customized approach to
meet their changing needs.”
Using data to create customized communications and solutions for
DC participants, providing a broad set of investment tools to
construct those solutions, and employing technology to deliver the
right message at the right time, work together to enable
participants to make decisions that are appropriate for their
household retirement situation. vWise has a proven track record of
increasing deferral and participation rates and driving adoption of
in-plan features that help optimize participant outcomes.
vWise technology enables financial service providers to
aggregate data and build participant profiles, apply a customized
rules engine that selects the best “call to action” and delivers a
personal experience. The recorded behavior and transaction then
builds out a more robust profile. The vWise Experience platform is
designed to be effective in institutional, advisor sold and retail
financial verticals.
“Our open-platform approach is the key to unlocking more
targeted communications and, in turn, more engaged participants,”
said David Ferrigno, CEO of vWise. “Aggregating data from multiple
sources – our clients, their clients and their partners – allows
vWise to deliver personalized communications based on relevant
demographic and financial characteristics. Investor ‘calls to
action’ can be both simpler to act on and to implement.”
“Our collaboration with vWise will help to operationalize our
GOE methodology in the institutional DC market,” said Harshendu
Bindal, Managing Director and Head of Digital Strategy and Wealth
Management for Franklin Templeton. “vWise will work directly with
the plan sponsor and recordkeeper to establish data transfer
protocols that pull the necessary participant data to create
targeted and personalized communications. This collaboration is
part of Franklin Templeton’s commitment to advancing
personalization and improving DC participant experiences and
outcomes.”
“We are excited to welcome Franklin Templeton as an investor in
vWise and a strategic partner,” added James Liberi, Chief Revenue
Officer at vWise. “We look forward to working with the Franklin
team to expand their plan sponsor and participant capabilities. As
the demand for personalization extends into our financial lives, we
are thrilled to be partnering with a forward thinking, technology
centric asset manager like Franklin Templeton.”
GOE is an open-architecture offering that combines a proprietary
algorithm based on award-winning research1, detailed capital market
expectations, and a set of parameters for each goal provided by the
investor. GOE is designed to take these parameters and optimize the
asset allocation to maximize the probability of successfully
achieving the goal by applying machine learning. DC participants
will have the option to provide additional information, and then
choose what portion of their account balance they would like to
invest in Franklin Templeton’s model portfolios.
Investing in digital wealth management capabilities continues to
be a top priority for Franklin Templeton, as wealth management
technology is becoming increasingly integral to the firm’s mission
of helping people achieve the most important milestones of their
lives. By deploying digital wealth capabilities to deliver more
personalized advice to all, including the underserved, and helping
fintech partners achieve more scalable growth, Franklin Templeton
aims to improve outcomes for more people. The firm’s digital wealth
capabilities enable the company to bring integrated investment and
wealth solutions to clients. Beyond GOE, which delivers
personalized and dynamic goals-based asset allocation advice at
scale, Franklin Templeton is developing a fintech ecosystem that
provides access to innovative talent disrupting financial services
and equipping the company to become the investment firm of the
future.
About vWise
vWise optimizes investor outcomes through interactive,
data-enabled personalized experiences that drive informed decision
making. Utilizing the way today’s investors consume content, the
vWise Experience Platform enables asset managers and financial
service providers to efficiently deliver personalized digital
experiences to complement existing sales and marketing efforts. For
more information, connect with vWise or visit
http://www.vWise.com.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN], is a global investment
management organization with subsidiaries operating as Franklin
Templeton and serving clients in over 165 countries. Franklin
Templeton’s mission is to help clients achieve better outcomes
through investment management expertise, wealth management and
technology solutions. Through its specialist investment managers,
the company brings extensive capabilities in equity, fixed income,
multi-asset solutions and alternatives. With offices in more than
30 countries and approximately 1,300 investment professionals, the
California-based company has over 70 years of investment experience
and approximately $1.5 trillion in assets under management as of
May 31, 2021. For more information, please visit
franklintempleton.com and follow us on LinkedIn, Twitter and
Facebook.
- A New Approach to Goals-Based Wealth Management, by Sanjiv R.
Das, Daniel Ostrov, Anand Radhakrishnan and Deep Srivastav received
the 2018 Harry M. Markowitz Award from the Journal of Investment
Management and New Frontier Advisors, LLC. This is an annual award
honoring Dr. Harry M. Markowitz, a Nobel laureate in economics, for
his legacy and to support future research and innovation in
practical asset management. Candidates are taken from among papers
published in the Journal of Investment Management each year.
Any information, statement or opinion set forth herein is
general in nature, is not directed to or based on the financial
situation or needs of any particular investor, and does not
constitute, and should not be construed as, investment advice,
forecast of future events, a guarantee of future results, or a
recommendation with respect to any particular security or
investment strategy or type of retirement account. Investors
seeking financial advice regarding the appropriateness of investing
in any securities or investment strategies should consult their
financial professional.
Copyright © 2021. Franklin Templeton Distributors, Inc. (FDI).
FDI is a Franklin Templeton affiliated company. All rights
reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20210707005217/en/
Franklin Templeton Corporate Communications: Rebecca Radosevich,
(212) 632-3207, rebecca.radosevich@franklintempleton.com Prosek
Partners: Cary Sherman, (857) 302-3712, cruterman@prosek.com
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