Franklin Templeton announces an expanded partnership with Envestnet, 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.

Source: Franklin Templeton