Franklin Resources, Inc. (NYSE:BEN), a global investment management organization operating as Franklin Templeton, announced on Wednesday it has acquired AdvisorEngine, a U.S.-based digital wealth platform. According to Franklin Resources, AdvisorEngine is a provider of technology and consulting services to more than 1,200 financial advisory firms in the U.S. and has managed over $600 billion in assets.
Through the acquisition, 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. While sharing more details about the acquisition, Rich Cancro, AdvisorEngine Founder and CEO, stated:
“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. 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.”