Franklin Templeton, Apex Clearing and Bambu Introduce Tango – A Scalable Goals-Based Wealth Management Tool for Advisors – Apex

SAN MATEO, Calif.–(BUSINESS WIRE)–Franklin Templeton today announced the introduction of Tango, a turnkey robo-advisor designed to empower advisors to provide personalized, goals-based wealth management at scale. The all-in-one solution is a collaboration between three industry leaders—Franklin Templeton, Bambu, and Apex Clearing. Franklin Templeton provides the personalized, goals-based portfolio management advice to advisors through its proprietary Goals Optimization Engine (GOE™). Bambu’s white-label platform is the digital solution for clients and advisors, while Apex facilitates trading and custody through its modern back-end platform built for safety, scale and speed.

“Tango is a single solution built on the expertise of three partners, each providing a unique offering for advisors, and it is truly a case of the whole being greater than the sum of its parts,” said Harshendu Bindal, director of Digital Strategy and Wealth Management for Franklin Templeton.

“As the industry continues to move towards digital platforms and technology-based services, investors increasingly expect a seamless digital experience. 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.”

GOE, a key differentiator in the offering, is Franklin Templeton’s proprietary technology that enables advisors and financial services firms to deliver personalized, high-value services to end-investors at greater scale. Based on proprietary research that won the prestigious Harry Markowitz Award in 2018i, GOE combines Franklin Templeton Investment Solutions’ portfolio construction expertise with dynamic programming to deliver individualized portfolio pathways based upon an individual’s unique goals. With the ability to handle multiple investor goals, GOE uses probability of success as the driver for the initial asset allocation and each reallocation in order to maximize likelihood of achieving the goal. Portfolio paths further adapt to client changes and market events.

Apex was one of the first companies to digitize the activities associated with securities clearing and custody to give financial services providers the speed, efficiency and flexibility they need to deliver a better investment experience. Bambu has integrated with Apex’s robust suite of application programming interfaces (APIs) that include new account opening, automated customer account transfer systems (ACAT), funding and trading.

“From our headquarters in Singapore, we have delivered digital wealth solutions for the most discerning global and US clients. With Tango, we saw an opportunity for a singular offering that makes it much simpler for anyone in wealth management to launch their own white-label robo-advisor. Through a single, bundled relationship, Franklin Templeton, Apex and Bambu have created a turnkey techstack combining proven technology, clearing services and professionally constructed portfolios,” said Ned Phillips, CEO and founder of Bambu.

“Apex is committed to simplifying investing by leveraging technology to bring relevant and cost-effective investment solutions to individuals and the advisors that serve them. Through this exciting new relationship with Franklin Templeton and Bambu, we’re able to do just that,” said Tricia Rothschild, president of Apex Clearing. “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 designed for seamless implementation and cost efficiencies that can be deployed quickly and easily into an advisor’s practice. Firms can implement this solution without upfront technology costs in a matter of eight to ten weeks versus several months through competing solutions.

Franklin Templeton continues to expand its offerings beyond traditional investment products, which now include planning and advice, digital tools, and advisor and retirement platforms. Tango leverages these expanded offerings to weave active investing strategies and advice into a digital platform, enabling financial planners to efficiently run their businesses with custom, optimized portfolios in an open-architecture environment.

About Bambu

Bambu is a leading global digital wealth technology provider for financial institutions. We enable companies to make saving and investing simple and intelligent for their clients. The cloud-based platform is powered by our proprietary algorithms and machine learning tools. The company serves approximately 300,000 end users on the platform in 10 countries. Bambu is funded by PEAK6 Investments and Franklin Templeton. Founded in 2016, Bambu is headquartered in Singapore with a subsidiary in the United Kingdom, and United States and EMEA representatives. For more information, visit https://bambu.co/ and follow us on LinkedIn and Twitter.

About Apex

Apex Clearing is a custody and clearing engine that’s powering the future of digital wealth management. Our proprietary enterprise-grade technology delivers speed, efficiency, and flexibility to firms ranging from innovative start-ups to blue-chip brands focused on transformation to capture a new generation of investors. We help our clients provide the seamless digital experiences today’s consumers expect with the throughput and scalability needed by fast-growing, high-volume financial services businesses. Founded in 2012, Apex Clearing, a PEAK6 company, is registered with the SEC, a member of FINRA and a participant in SIPC. For more information, visit the Apex Clearing website, and follow the company on FacebookLinkedIn, and Twitter.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN], is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and approximately $1.4 trillion in assets under management as of November 30, 2020. For more information, please visit franklintempleton.com and follow us on LinkedInTwitter and Facebook.

Copyright © 2020. Franklin Templeton. All rights reserved.

 

Contacts

Franklin Templeton Corporate Communications:
Rebecca Radosevich, (212) 632-3207, rebecca.radosevich@franklintempleton.com
Prosek Partners: Cary Sherman, (857) 302-3712, cruterman@prosek.com

Bambu: Brooke Worden, The Rudin Group, (612) 308-6975, brooke@therudingroup.com

Apex Clearing: Haley Fry, Edelman, (309) 824-7806, Haley.Fry@Edelman.com


(1)The Harry M. Markowitz Award from the Journal of Investment Management and New Frontier Advisors, LLC is an annual award honoring Dr. Harry M. Markowitz, a Nobel laureate in economics, for his legacy and to support future research and innovation in practical asset management. Candidates are taken from among papers published in the Journal of Investment Management each year.