Franklin Templeton today announces an expanded partnership with Envestnet, Inc. [NYSE: ENV] to deliver tax-managed, personalized strategies at scale through its Canvas Custom Indexing platform, as a component of the previously announced strategic partnership between the firms. Canvas, will be available to Envestnet’s extensive client base of advisors across banks, wealth management and brokerage firms, as well as RIAs.

“This marks another milestone for Franklin Templeton, furthering our position as a top SMA provider,” said Roger Paradiso, Head of Product Solutions for Franklin Templeton. “The integration of Canvas on to the Envestnet platform is an exciting partnership that allows us to jointly bring more high-net-worth capabilities to the mass affluent investing community. Advisors using Envestnet will now have access to Canvas’ differentiated digital solutions and operational assurance to strengthen client relationships by further personalizing investment management.”

Canvas’ web-based platform empowers advisors to easily create personalized and diversified portfolios with a focus on tax management. Venturing beyond traditional Direct Indexing, Canvas is a holistic technology focused on giving advisors more investment solutions, increased control, and the tools and efficiency to scale their businesses. It’s an example of Franklin Templeton’s commitment to providing differentiated outcomes and real customization to the broader investment community.

“Investors are increasingly seeking customized solutions, and their advisors are looking to deliver on that expectation by providing personalization at scale across their business,” said Dana D’Auria, Co-CIO and Group President, Envestnet Solutions. “This partnership showcases Envestnet’s commitment to solving this need in the market by providing greater choice and access for Direct Indexing with a tool from a trusted provider. Direct Indexing empowers advisors to tailor a portfolio that better aligns with their client’s personal values, tax goals, and long-term objectives, and we’re providing the level of customization and choice that today’s market demands.”

Canvas will be introduced to the Envestnet platform in phases starting with passive equity models and advancing to a more holistic offering and experience with time.

Franklin Templeton is a leading provider in the fast-growing SMA industry, with approximately $140 billion in SMA assets under management as of June 30, 2024, including $9 billion on the Canvas platform. These offerings are core to Franklin Templeton’s investment in its Custom Wealth Solutions group that is focused on delivering innovative and custom investment and practice management solutions to advisors serving the high-net-worth community.

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 150 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 offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of August 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.

Franklin Templeton and Envestnet are separate and unaffiliated firms and are not responsible for each other’s services or policies. This release should not be construed as a recommendation or endorsement of any particular product, service or firm.

All investments involve risks, including the loss of principal.

IMPORTANT TAX INFORMATION:

Franklin Templeton, its affiliates, and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the “promotion or marketing” of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.

Envestnet and Franklin Templeton have entered into a partnership for certain program offerings. For more information regarding this relationship and the related conflicts, please see both Envestnet and Franklin Templeton’s Form ADV Part 2A.

Copyright © 2024 Franklin Templeton. All rights reserved.

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