Franklin Templeton is making news—first with its blockbuster acquisition of Putnam Investments (and the talent that comes with it) and now in the financial wellness space.
The San Mateo, California-based investment giant will team with AI wealth platform TIFIN to launch TIFIN @Work, a financial wellness solution designed “to empower employees and enhance their financial well-being.
The companies noted that workplace benefits and financial wellness are an important part of an employee’s compensation package. Yet, they added that employees often struggle to make the best use of workplace benefits to maximize their current financial status and future goals, something the partnership is meant to address.
“We believe every U.S. worker and household has the right to experience financial well-being throughout each phase of life, and access to personalized advice is a critical step towards achieving that,” Yaqub Ahmed, Head of Retirement, Insurance Sub-Advisory, and 529 College Savings for Franklin Templeton, said in a statement. “Through this strategic partnership, we’ll empower financial professionals with an easy and actionable way to help plan participants better understand their overall financial situation and allocate savings to what means the most to them.”
TIFIN will partner with Franklin Templeton’s Workplace Retirement Distribution Business to deliver TIFIN @Work to plan advisors and the sponsors they serve. This partnership between TIFIN and Franklin Templeton is designed to close many of the gaps advisory firms are addressing between their workplace and the wealth management businesses.
“We are thrilled to collaborate with Franklin Templeton to bring TIFIN @Work to the market,” Dr. Vinay Nair, Founder and CEO of TIFIN, added. “This partnership combines TIFIN’s technological innovation in AI with Franklin Templeton’s deep plan adviser network and expertise in the defined contribution industry. Together, we can empower employers to deploy a holistic solution that fosters better financial outcomes for their employees.”
