AdvisorEngine, the digital wealth management platform for financial advisors, has been acquired by Franklin Templeton, the global investment management firm founded in New York in 1947. The terms of the transaction were not disclosed. “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. Upon meeting Jenny Johnson and the leadership team, it became clear that Franklin Templeton is the right fit,” said Rich Cancro, AdvisorEngine Founder and CEO. “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.”
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. Upon meeting Jenny Johnson and the leadership team, it became clear that Franklin Templeton is the right fit. 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. – Rich Cancro
Founded by Cancro, David Scalzo, Lex Sokolin, and Vladimir Baranov in 2014, Soho-based Advisor Engine had raised a total of $31.7M in reported equity funding and an additional $22.6M structured as debt.
“We’re in the midst of the fourth industrial revolution, and technological advances are reshaping how financial solutions are delivered,” said Jenny Johnson, president and CEO of Franklin Templeton. “As a result, we continue to invest in technology and teams to enhance our offerings and enable us to innovate at the nexus of asset management, wealth management, and technology. I’m excited to welcome the AdvisorEngine team to Franklin Templeton and look forward to what we will achieve together.”
We’re in the midst of the fourth industrial revolution, and technological advances are reshaping how financial solutions are delivered. As a result, we continue to invest in technology and teams to enhance our offerings and enable us to innovate at the nexus of asset management, wealth management, and technology. I’m excited to welcome the AdvisorEngine team to Franklin Templeton and look forward to what we will achieve together. – Jenny Johnson
