Thousands of financial advisors can now leverage Franklin Templeton’s Goals Optimization Engine (GOE) to provide personalized advice for their retirement plan clients
Franklin Templeton has partnered with digital recordkeeping platform Vestwell to build an advisor managed account experience that will reset the bar on how advisors engage with clients. The new offering combines Franklin Templeton’s proprietary Goals Optimization Engine (GOE™) methodology with Vestwell’s modern recordkeeping infrastructure to create an entirely digital, open-architecture and cost-effective managed account solution. The offering will live natively in Vestwell’s platform, with the ability to automatically enroll participants into a personalized investment strategy.
“We’re thrilled to be working with Vestwell to deliver a managed account offering that helps advisors more effectively engage during all stages of a participant’s savings journey.”
To date, managed accounts have been somewhat commoditized, simply added on top of existing offerings and therefore failing to provide the experience or cost-effectiveness investors deserve. With a clear market need to revolutionize the space, Vestwell and Franklin Templeton set out to build a managed account offering that is customizable, affordable, and built on a modern fintech infrastructure that benefits all users. By architecting it directly into Vestwell’s platform, Vestwell can capture data that provides participants a more personalized investment experience at each stage of their retirement journey. With a completely open-architecture fund universe and a dynamic qualified default investment alternative (QDIA) capability, advisors can craft their own unique investment programs to provide fiduciary advice while leveraging a modern fintech platform to effectively scale.
“We believe every U.S. worker and household has the right to experience financial well-being during each life phase. Enabling plan advisors to deliver goals-based, personalized, cost-effective advice to Americans in the workplace is our focus. We want to equip advisors and investors with innovative tools and technology to achieve that goal at scale,” says Yaqub Ahmed, Head of US Retirement and Insurance at Franklin Templeton. “We’re thrilled to be working with Vestwell to deliver a managed account offering that helps advisors more effectively engage during all stages of a participant’s savings journey.”
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