Franklin Templeton is entering the business-to-business robo-advisor arena.
Last week, the San Mateo, Ca.-based asset manager announced the launch of Tango, a turnkey robo-advisor for financial advisors that offers wealth management at scale.
Tango is a partnership between Franklin Templeton, Apex Clearing and Bambu, a Singapore-based fintech firm that offers a white-label digital investing service. Apex will facilitate trading and custody on the platform.
The new service also uses Franklin-Templeton’s Goals Optimization Engine, technology that allows advisors to offer personalized services at scale to their clients. In Tango, the Goals Optimization Engine uses Franklin Templeton’s portfolio construction expertise with programming to create goals-oriented portfolios that prioritize probability of success.
Tango is designed to be implemented by advisors in eight to 10 weeks without upfront technology costs.
“As the industry continues to move towards digital platforms and technology-based services, investors increasingly expect a seamless digital experience,” said Harshendu Bindal, director of digital strategy and wealth management for Franklin Templeton, in released comments. “Tango will give advisors the ability to focus on growing their client relationships with professional management, personalized 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.”