Franklin Templeton launched its Preferred Partner Program, expanding its Canvas platform to enable third-party asset managers to offer tax-managed versions of their proprietary investment strategies, the company said.
The program extends Canvas’s personalization and tax management capabilities beyond Franklin Templeton products, allowing selected managers to deliver their investment products with a systematic tax overlay that combines traditional alpha and tax alpha within a single portfolio experience.
“We built Canvas to help advisors deliver more personalized and tax-efficient portfolios at scale,” Roger Paradiso, head of Franklin Templeton Custom Client Portfolios, said in a statement. “Canvas P3 further expands our strategy suite and gives advisors a way to access strategies from other select asset managers they also want to work with while adding tax-aware implementation at the individual account level.”
Through Canvas P3, MFS Investment Management, Federated Hermes and T. Rowe Price will offer select systematically tax managed strategies in partnership with Franklin Templeton.
The strategies, starting with separately managed accounts, will pair each manager’s investment expertise with Canvas’s tax overlay capabilities, which are designed to target after-tax outcomes while maintaining alignment with the manager’s investment approach.
The Canvas platform supports tax-loss harvesting, tax-aware transitions, annual tax budgets, concentrated stock diversification, client-specific restrictions and after-tax reporting, according to the company.
“By bringing other managers’ strategies onto the platform, Canvas can help transform a manager’s conversations historically anchored in performance, into a more personalized and integrated portfolio experience for advisors and their clients,” Mark Lavan, head of wealth management at Franklin Templeton, said in a statement.
