Welcome to our dedicated page for Franklin Resources news (Ticker: BEN), a resource for investors and traders seeking the latest updates and insights on Franklin Resources stock.
Franklin Resources, Inc. reports developments for Franklin Templeton, a global investment manager serving individual, institutional and wealth clients across public and private markets. News commonly covers assets under management, net flows, earnings, operating results and asset-class activity across equity, fixed income, alternatives, multi-asset and cash management strategies.
Company updates also include product and platform initiatives such as model portfolios, separately managed account-style solutions and private-market access, as well as developments at subsidiaries including Western Asset Management and Fiduciary Trust International. Other recurring themes include global distribution, wealth management expansion, client group leadership and capital actions tied to the company’s NYSE-listed common stock.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,297.4 billion as of September 30, 2022, down from $1,387.6 billion on August 31, 2022. The decline was due to negative market impacts and long-term net outflows totaling $20.4 billion for the quarter, including a significant $2.0 billion redemption in fixed income. The company continues to navigate challenging market conditions while working to improve performance.
Franklin Templeton has partnered with Saphyre and J.P. Morgan to enhance the onboarding and maintenance of its funds using Saphyre's AI platform. This collaboration aims to digitize account setups, increasing operational efficiency and reducing risks associated with manual processes. Franklin Templeton's Vice President highlighted the initiative as a means to improve service quality and client satisfaction. With an estimated $1.4 trillion in assets under management, this strategic move is poised to optimize the onboarding process across custodians and brokers, benefiting the entire financial industry.
Franklin Templeton is enhancing its Goals Optimization Engine (GOE) by integrating with LifeYield for tax-efficient investment planning and income sourcing. This partnership aims to assist advisors in managing client goals more effectively, especially during decumulation stages. Franklin Templeton's use of LifeYield technology has reportedly uncovered an additional $2.5 billion in Social Security benefits for clients. The GOE uses advanced portfolio strategies to optimize client outcomes across investment goals.
Summary not available.
Summary not available.
AdvisorEngine has introduced new data visualization dashboards tailored for wealth management, developed through extensive input from 430 industry professionals. These dashboards aim to enhance business performance by providing customizable, real-time insights across various roles, ultimately driving revenue growth and client service. Key features include 'drag-and-drop' customization, automatic data updates, and advanced filtering options. CEO Rich Cancro emphasized the importance of making data more accessible without the need for costly consulting projects. This rollout begins today for selected clients.
Franklin Templeton announces the launch of a research series by Sandy Kaul on tech-driven megatrends influencing society and investing. This series, initiated in September 2022, outlines five key megatrends: Democratization of access, Decomposition of business delivery, Expanding power of the crowd, Institutionalization of the individual, and Quantification of behavior. The research suggests that these trends will significantly impact the asset and wealth management industry as decentralization and Web3 evolve, potentially disrupting traditional finance over the next decade.
Action! magazine has launched to provide actionable resources for wealth management professionals. This publication is aimed at various roles within firms, covering five key topics: Operational Effectiveness, Relationship Management, Revenue Growth, Investment Excellence, and Culture & Strategy. Led by experienced journalist Suleman Din, it features downloadable templates, checklists, and expert contributions. The magazine seeks to bridge the gap between ideas and execution, fostering a community for sharing best practices and insights in the industry.
Franklin Templeton has announced its transition of the 403(b) business to PCS Retirement's Aspire platform, enhancing offerings for public and non-profit workers. This partnership combines Franklin Templeton's investment management expertise with Aspire's transparent services. Participants will now have access to mutual funds, Roth 403(b) plans, and financial literacy tools, aiming for lower costs and greater transparency. Franklin Templeton's commitment to improving 403(b) plans is set to strengthen its presence in the K-12 market, aligning with its mission to promote financial well-being for all U.S. workers.
Franklin Templeton is transitioning its 403(b) business to PCS Retirement's Aspire 403(b) platform, enhancing investment options for public and non-profit workers. This collaboration aims to provide high-quality, low-cost solutions, focusing on transparency and increased accessibility to mutual funds. Participants will benefit from new features like Roth 403(b) plans and improved financial literacy tools. This move strengthens Franklin Templeton's commitment to the K-12 market and aims to improve financial independence for underserved workers.