US-based investment manager Franklin Templeton has launched a turnkey robo-adviser, in association with digital wealth technology provider Bambu and custody and clearing engine Apex Clearing.
Dubbed Tango, the new offering will serve as a scalable goals-based wealth management solution for advisers.
Tango will leverage the technologies of the three firms to bring an end-to-end solution.
These include Franklin Templeton’s proprietary Goals Optimization Engine (GOE), which offers investors tailored investment paths for their unique goals, Bambu’s white-label platform and Apex’s back-end platform for trading and custody.
GOE’s open-architecture service is provided through AdvisorEngine, a wealth technology firm that Franklin Templeton snapped up earlier this year.
The solution is based on proprietary research that defines investment success depending on the achievement of the goals and recommends decisions to maximise the chance of success.
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Apex digitises the activities related to securities clearing and custody. Bambu has integrated with Apex’s APIs covering account opening, automated customer account transfer systems (ACAT), funding and trading.
Apex president Tricia Rothschild said: “Tango is a powerful solution that brings together a frictionless digital experience with open-architecture technology designed to arm advisors and financial services firms with sophisticated goals-based decision-making capabilities that will improve investors’ relationships with money.”
Tango is said to offer “cost efficiencies” and is also said to be deployed quickly into an adviser’s practice.
The solution can be deployed without upfront technology costs in eight to ten weeks, noted the firms.
Franklin Templeton director of Digital Strategy and Wealth Management Harshendu Bindal said: “Tango will give advisers the ability to focus on growing their client relationships with professional management, personalised to their client’s specific goals, without the demands of increased back-office responsibilities or up front charges that are typical of many robo platforms.”