The market expects Franklin Resources (BEN - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on July 31, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis investment manager is expected to post quarterly earnings of $0.66 per share in its upcoming report, which represents a year-over-year change of +34.7%.
Revenues are expected to be $2.27 billion, up 9.8% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 3.06% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Franklin Resources?For Franklin Resources, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #1.
So, this combination makes it difficult to conclusively predict that Franklin Resources will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Franklin Resources would post earnings of $0.55 per share when it actually produced earnings of $0.71, delivering a surprise of +29.09%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Franklin Resources doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAffiliated Managers Group (AMG - Free Report) , another stock in the Zacks Financial - Investment Management industry, is expected to report earnings per share of $7.85 for the quarter ended June 2026. This estimate points to a year-over-year change of +45.6%. Revenues for the quarter are expected to be $557.91 million, up 13.1% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Affiliated Managers has been revised 2.8% up to the current level. Nevertheless, the company now has an Earnings ESP of +1.86%, reflecting a higher Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #2 (Buy), suggests that Affiliated Managers will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Headquartered in San Mateo, Franklin Resources (BEN - Free Report) is a Finance stock that has seen a price change of 40.23% so far this year. The investment manager is paying out a dividend of $0.33 per share at the moment, with a dividend yield of 3.94% compared to the Financial - Investment Management industry's yield of 2.8% and the S&P 500's yield of 1.38%.
Looking at dividend growth, the company's current annualized dividend of $1.32 is up 3.1% from last year. Over the last 5 years, Franklin Resources has increased its dividend 5 times on a year-over-year basis for an average annual increase of 3.38%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Franklin Resources's current payout ratio is 51%, meaning it paid out 51% of its trailing 12-month EPS as dividend.
BEN is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2026 is $2.79 per share, representing a year-over-year earnings growth rate of 25.68%.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. But, not every company offers a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that BEN is not only an attractive dividend play, but also represents a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).
The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Franklin Resources (BEN - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
Franklin Resources is a member of the Finance sector. This group includes 881 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Franklin Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BEN's full-year earnings has moved 7.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BEN has gained about 40.2% so far this year. Meanwhile, the Finance sector has returned an average of 4.6% on a year-to-date basis. This means that Franklin Resources is performing better than its sector in terms of year-to-date returns.
One other Finance stock that has outperformed the sector so far this year is Bowhead Specialty Holdings Inc. (BOW - Free Report) . The stock is up 11.1% year-to-date.
Over the past three months, Bowhead Specialty Holdings Inc.'s consensus EPS estimate for the current year has increased 1.2%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Franklin Resources belongs to the Financial - Investment Management industry, a group that includes 37 individual companies and currently sits at #181 in the Zacks Industry Rank. Stocks in this group have lost about 14.6% so far this year, so BEN is performing better this group in terms of year-to-date returns.
In contrast, Bowhead Specialty Holdings Inc. falls under the Insurance - Property and Casualty industry. Currently, this industry has 44 stocks and is ranked #150. Since the beginning of the year, the industry has moved +1.4%.
Investors with an interest in Finance stocks should continue to track Franklin Resources and Bowhead Specialty Holdings Inc.. These stocks will be looking to continue their solid performance.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Franklin Resources (BEN - Free Report) , which belongs to the Zacks Financial - Investment Management industry.
This investment manager has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 28.18%.
For the most recent quarter, Franklin Resources was expected to post earnings of $0.55 per share, but it reported $0.71 per share instead, representing a surprise of 29.09%. For the previous quarter, the consensus estimate was $0.55 per share, while it actually produced $0.7 per share, a surprise of 27.27%.
Price and EPS Surprise
For Franklin Resources, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Franklin Resources has an Earnings ESP of +4.39% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #1 (Strong Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on July 31, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
20+ Year Financial Services Industry Veteran Will Help Drive Execution and Growth Across the Firm
NEW YORK--(BUSINESS WIRE)--Fiduciary Trust International, a global wealth manager and wholly owned subsidiary of Franklin Templeton, welcomes Sue Wilchusky as the firm’s chief administrative officer. In this role, she will help ensure the development and execution of strategic priorities that move forward in a thoughtful and connected way across the organization.
Ms. Wilchusky is based in Fiduciary Trust International’s office in Radnor, PA, and reports to Adam Spector, chief executive officer. Craig Richards remains chief operating officer and head of tax. Ms. Wilchusky’s arrival allows Mr. Richards to partner more closely with Mr. Spector and the executive team to support client needs and the ongoing growth of the business.
“Sue’s role revolves around execution – working with me and the executive team to drive key firmwide initiatives, improve coordination across functions, and make sure we are making consistent progress against our priorities,” said Mr. Spector. “Her strong track record of driving alignment in complex organizations, combined with a background and approach that are well-aligned with our culture and focus on clients, made her the right choice for this position.”
Ms. Wilchusky joins Fiduciary Trust International from Brandywine Global, where she served as chief operating officer overseeing business operations, including marketing and product management, portfolio compliance, investment performance and analysis, and overall business strategy. Prior to starting at Brandywine Global in 2011, Ms. Wilchusky held product development and distribution strategy roles at SEI Investments. Earlier in her career, she worked for Deutsche Bank, Fidelity Investments, and Deloitte & Touche. Ms. Wilchusky holds the Certified Financial Planner™ (CFP®) and Certified Public Accountant (CPA) designations.
“Fiduciary Trust International has spent 95 years building trusted client relationships, and I’m grateful for the opportunity to support its continued growth and build on that legacy,” said Ms. Wilchusky. “I look forward to working with the executive team to drive strategic initiatives forward and deliver results for our clients and colleagues.”
Ms. Wilchusky earned her MBA from Loyola University Maryland, and graduated from the University of Delaware with a bachelor of science in accounting.
About Fiduciary Trust International
Fiduciary Trust International, a global wealth management firm headquartered in New York, NY, has served individuals, families, endowments and foundations since 1931. With over $108 billion in assets under management and administration as of March 31, 2026, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The New York-based firm and its subsidiaries maintain offices in Coral Gables, FL, Boca Raton, FL, Fort Lauderdale, FL, West Palm Beach, FL, St. Petersburg, FL, Radnor, PA, Lincoln, MA, Los Angeles, CA, San Mateo, CA, Washington, DC, Wilmington, DE, Reston, VA, and Atlanta, GA. For more information, please visit fiduciarytrust.com, and for the latest updates, follow Fiduciary Trust International on LinkedIn and X: @FiduciaryTrust.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With more than $1.79 trillion in assets under management as of June 30, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Franklin Resources (BEN - Free Report) , a company that currently holds a Momentum Style Score of A. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Franklin Resources currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for BEN that show why this investment manager shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For BEN, shares are up 2.71% over the past week while the Zacks Financial - Investment Management industry is up 0.42% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 9.72% compares favorably with the industry's 1.1% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Franklin Resources have increased 34.16% over the past quarter, and have gained 40.28% in the last year. On the other hand, the S&P 500 has only moved 14.34% and 21.46%, respectively.
Investors should also take note of BEN's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now BEN is averaging 4,122,141 shares for the last 20 days..
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with BEN.
Over the past two months, 5 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost BEN's consensus estimate, increasing from $2.71 to $2.79 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that BEN is a #1 (Strong Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Franklin Resources on your short list.
Key Takeaways Franklin's June AUM rose marginally to $1.79 trillion, supported by $9 billion in long-term net inflows.BEN posted higher equity, fixed income, alternatives and cash AUM, while multi-asset AUM edged down.Franklin's market, distributions and other impacts partly offset June's long-term net inflows. Franklin Resources, Inc. (BEN - Free Report) reported preliminary assets under management (AUM) of $1.79 trillion as of June 30, 2026, which increased marginally from the previous month.
The rise in the AUM balance reflected long-term net inflows of $9 billion, partially offset by the net impact of market, distributions and other. Long-term flows at Western Asset Management were flat.
Franklin recorded equity assets of $756.8 billion, which increased marginally from the previous month. Fixed income AUM of $441.3 billion also rose marginally from the prior month. Alternatives AUM grew to $290.7 billion from $289.4 billion in the previous month.
However, Multi-asset AUM was $218.5 billion, down marginally from $218.7 billion as of May 31, 2026. The cash management balance was $80.6 billion, up 2.3% from the previous month.
Our View on FranklinBEN’s efforts to diversify its business into asset classes that are seeing growing client demand, like alternative asset classes, are expected to continue to propel AUM growth. The company’s continued private-market fundraising is improving its business mix by increasing exposure to higher-growth asset classes. Further, its regionally focused distribution model, favorable international net flows and strategic acquisitions continue to support the AUM balance.
BEN's Price Performance & Zacks RankOver the past six months, BEN shares have gained 35.3%, significantly outperforming the industry’s decline of 17.8%.
Image Source: Zacks Investment Research
Franklin currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BEN’s Peer ReleasesTwo stocks, T. Rowe Price Group, Inc. (TROW - Free Report) and Victory Capital Holdings, Inc. (VCTR - Free Report) , will announce their monthly metric performances in the upcoming days.
Over the past six months, TROW and VCTR shares have risen 9.7% and 33.5%, respectively.
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management (AUM) of $1.79 trillion at June 30, 2026, compared to $1.78 trillion at May 31, 2026. This month's increase in preliminary AUM reflected long-term net inflows of $9 billion, partially offset by the net impact of market, distributions, and other. Long-term flows at Western Asset Management1 were flat. For the quarter ended June 30, 2026, preli.
SAN MATEO, Calif.--(BUSINESS WIRE)--On Friday, July 31st at approximately 8:30 a.m. Eastern Time, Franklin Resources, Inc. (the “Company”) [NYSE:BEN] will release its third quarter operating results. A written commentary on the results will also be available via investors.franklinresources.com at approximately 8:30 a.m. Eastern Time.
In addition, Jenny Johnson, CEO; Matthew Nicholls, Co-President, CFO and COO; and Daniel Gamba, Co-President and Chief Commercial Officer, will lead a live teleconference at 10:00 a.m. Eastern Time to answer questions.
Access to the teleconference will be available via investors.franklinresources.com or by dialing (+1) 877-407-0989 in North America or (+1) 201-389-0921 in other locations. A replay of the teleconference can also be accessed by calling (+1) 877-660-6853 in North America or (+1) 201-612-7415 in other locations using access code 13761569 after 2:00 p.m. Eastern Time on July 31, 2026 through August 7, 2026, or via investors.franklinresources.com. Analysts and investors are encouraged to review the Company's recent filings with the U.S. Securities and Exchange Commission and to contact Investor Relations at [email protected] before the live teleconference for any clarifications or questions related to the earnings release or written commentary.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With $1.78 trillion in assets under management as of May 31, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Key Takeaways BEN's arm acquired 250 Digital, adding a crypto investment team and CoinFund's liquid digital strategies.Franklin Templeton launched Franklin Crypto to offer active crypto strategies for institutional clients.The buyout aids BEN's broader push into blockchain finance alongside partnerships with MoonPay and Binance. Franklin Resources, Inc.'s (BEN - Free Report) asset management arm, Franklin Templeton, has completed its previously announced acquisition of 250 Digital, an active cryptocurrency investment management firm led by industry veterans Christopher Perkins and Seth Ginns. The transaction, announced in April 2026, includes the 250 Digital investment team and all liquid cryptocurrency strategies previously managed by CoinFund.
The acquisition marks another step in Franklin Templeton's efforts to strengthen its presence in digital assets and expand its active cryptocurrency investment capabilities. Following the closing of the transaction, the company formally launched Franklin Crypto, a dedicated active digital asset management division.
The move underscores Franklin Templeton’s long-term focus on building infrastructure across the digital asset ecosystem and expanding its institutional cryptocurrency investment offerings. As part of the agreement, the company will also invest in the acquired cryptocurrency strategies.
What Does BEN’s Franklin Crypto Offer?Franklin Crypto is Franklin Templeton’s newly established active digital asset division focused on delivering actively managed cryptocurrency strategies to institutional clients. The platform integrates the investment capabilities of the former 250 Digital team with Franklin Templeton’s established research, portfolio construction and risk management framework.
The division also builds on Franklin Templeton’s existing digital asset capabilities, including dedicated resources for digital asset research, active portfolio construction and institutional risk oversight. By combining crypto-native expertise with traditional asset management infrastructure, Franklin Crypto is designed to enhance the company’s ability to deliver regulated digital asset investment solutions.
How the 250 Digital Acquisition Benefits BENThe acquisition is expected to strengthen Franklin Templeton’s active digital asset management capabilities at a time when institutional demand for regulated crypto exposure continues to increase, positioning the company to scale its digital asset offerings more effectively.
The initiative also aligns with Franklin Templeton’s broader strategy of expanding beyond traditional asset management and increasing its presence in blockchain-enabled finance. Earlier this month, Franklin Templeton partnered with MoonPay to integrate its Benji Technology Platform with institutional trading infrastructure, enhancing access to its tokenized money market funds.
In February 2026, the company also collaborated with Binance to launch an off-exchange institutional collateral program designed to improve capital efficiency and reduce counterparty risk in digital asset trading. These initiatives strengthen Franklin Templeton’s digital asset ecosystem, spanning research, portfolio management and blockchain-based investment solutions.
With $1.78 trillion in assets under management as of May 31, 2026, and operations across more than 35 countries, Franklin Templeton is well-positioned to scale its digital asset offerings globally. Overall, the acquisition of 250 Digital is expected to expand its cryptocurrency investment capabilities and reinforce its position among traditional asset managers, building out blockchain-enabled financial market infrastructure.
BEN’s Price Performance & Zacks RankThe company’s shares have gained 39.7% in the past six months against the industry’s 12.1% decline.
Image Source: Zacks Investment Research
Currently, Franklin sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
How Other Financial Firms Are Scaling Up in Crypto?Similar to BEN, the other financial firms, such as Interactive Brokers Group, Inc. (IBKR - Free Report) and Charles Schwab (SCHW - Free Report) are also actively expanding and enhancing their crypto offerings.
In April 2026, Interactive Brokers launched a unified crypto trading platform for European Economic Area clients through its Ireland-based unit, integrating digital assets into its brokerage ecosystem. Developed with Zerohash, it enables secure trading alongside traditional assets. Earlier, in March 2026, Interactive Brokers also introduced crypto transfer functionality, allowing clients to move assets into brokerage-linked accounts without liquidation, improving portfolio efficiency.
In April 2026, Charles Schwab also moved toward direct crypto exposure with the planned launch of Schwab Crypto, a spot trading service for Bitcoin and Ethereum. The rollout will follow a phased approach, starting with limited access before broader availability, supported by its research, education and advisory ecosystem. Until now, Charles Schwab has mainly relied on indirect exposure through ETFs and related products, but this marks a shift toward integrating crypto into its core brokerage platform.
Canvas Preferred Partner Program (P3) Allows Select Active Managers to Offer Tax-Managed Versions of Strategies to the Market
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Templeton, a global investment leader, today announced the launch of its Preferred Partner Program (P3), an expansion of its Canvas platform that enables third-party asset managers to offer tax-managed versions of their proprietary investment strategies through Canvas.
The program extends Canvas’s personalization and tax management capabilities beyond Franklin Templeton product, allowing selected managers to deliver their investment philosophy with a systematic tax overlay that combines traditional alpha and tax alpha within a single portfolio experience.
Through Canvas P3, MFS Investment Management, Federated Hermes and T. Rowe Price will now offer select systematically tax managed strategies in partnership with Franklin Templeton. These 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.
“We built Canvas to help advisors deliver more personalized and tax-efficient portfolios at scale,” said Roger Paradiso, Head of Franklin Templeton Custom Client Portfolios “Canvas P3 further expands our strategy suite and gives advisors a way to access strategies from other select asset managers they also want work with while adding tax-aware implementation at the individual account level. Advisors should have choices when selecting a manager that they believe in while getting the best tax-aware outcome their clients deserve."
The Canvas platform supports tax-loss harvesting, tax-aware transitions, annual tax budgets, concentrated stock diversification, client-specific restrictions and after-tax reporting. These capabilities are applied at the account level, allowing advisors to tailor implementation to each client’s circumstances while preserving the investment intent of the underlying strategies and account.
“The value of Canvas is in its scalable implementation," said Mark Lavan, Head of Wealth Management at Franklin Templeton “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. This is an important step in making tax-aware customization more accessible across a broader range of investment strategies.”
Canvas is core to Franklin Templeton’s broader effort to deliver technology-enabled, personalized investment solutions to advisors and their clients. The platform is designed to help advisors create, transition and manage customized portfolios with account-level tax management and implementation support.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With more than $1.78 trillion in assets under management as of May 31, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Franklin Resources, Inc. [NYSE: BEN]
All investments involve risks, including possible loss of principal. Franklin Templeton, its affiliates, and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax related statements, if any, may have been written in connection with the “promotion or marketing” of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.
Key Takeaways BEN reached a 52-week high of $33.29 and outperformed IVZ and TROW over six months.BEN's AUM grew at a 3.1% CAGR over five years, with continued momentum in the first half of fiscal 2026.BEN is expanding through acquisitions and partnerships across alternatives and digital assets. Shares of Franklin Resources, Inc. (BEN - Free Report) touched a new 52-week high of $33.29 during yesterday’s trading session before closing slightly lower at $33.18.
Over the past six months, BEN shares have rallied 38.9% against the industry’s decline of 9.7%. The stock has also fared better than its close peers, Invesco Ltd. (IVZ - Free Report) and T. Rowe Price Group, Inc. (TROW - Free Report) , which gained 10.3% and 5.5%, respectively, over the same period.
Price Performance
Image Source: Zacks Investment Research
Does Franklin have more upside left after touching a new 52-week high? Let us find out.
Other Factors Supporting Franklin’s GrowthAUM Growth Driven by Diversification Efforts: Franklin has continued to deliver healthy growth in its assets under management (AUM) over the years, registering a 3.1% compound annual growth rate (CAGR) over the past five fiscal years through fiscal 2025, despite declines in fiscal 2022 and 2025. The upward momentum continued in the first half of fiscal 2026.
AUM Growth Trend
Image Source: Franklin Resources, Inc.
The company’s strategic push into higher-demand asset classes, especially alternatives, is expected to remain a key driver of AUM expansion going forward. In addition, its regionally diversified distribution network has helped strengthen its non-U.S. franchise and supported steady net inflows.
Solid Organic Growth: Organic growth has been a key strength for Franklin over the years. Although revenues declined in fiscal 2023, the company recorded a CAGR of 1.9% over fiscal 2022-2025. The growth momentum continued in the first six months of fiscal 2026, with revenues increasing year over year.
Going forward, revenues are likely to benefit from BEN's relatively strong distribution platform, which has supported diversification inflows across funds, vehicles and asset classes. The company also enjoys a first-mover advantage in several international markets and continues to diversify its business to build broader sources of revenues, primarily driven by a solid fixed-income pipeline. These initiatives, along with expanding investment capabilities, are expected to support long-term revenue growth.
The Zacks Consensus Estimate for BEN's fiscal 2026 and fiscal 2027 revenues is pegged at $9.1 billion and $9.2 billion, indicating year-over-year growth rates of 3.6% and 0.9%, respectively.
Revenue Estimates
Image Source: Zacks Investment Research
Strategic Acquisitions and Partnerships to Expand Capabilities: As part of its ongoing strategy to diversify investment offerings and strengthen its presence in high-growth asset classes, Franklin has continued to expand through acquisitions and strategic partnerships. In April 2026, the company agreed to acquire 250 Digital, a crypto investment firm spun out of CoinFund, and launch the Franklin Crypto unit to enhance its digital asset capabilities and broaden its institutional reach. Earlier, in February 2026, BEN partnered with Binance to introduce an off-exchange institutional collateral program aimed at improving the safety and capital efficiency of digital asset trading.
Franklin has also been strengthening its alternatives and technology capabilities. In November 2025, the company partnered with Wand AI to bolster AI-driven research and operations. Earlier, in October 2025, BEN acquired Apera Asset Management, expanding its alternative credit AUM to more than $90 billion and increasing its overall alternatives platform to approximately $270 billion. In September 2025, partnerships with Copenhagen Infrastructure Partners, DigitalBridge and Actis broadened its private infrastructure offerings, while the alliance with SBI Holdings in 2024 strengthened its exchange-traded fund and digital asset capabilities.
Together, these acquisitions and partnerships are expected to enhance Franklin's alternative investment capabilities, diversify revenue streams and support long-term AUM growth across its global asset management platform.
Strong Liquidity to Aid Shareholder Returns: Franklin maintains a healthy liquidity profile, providing financial flexibility and supporting its ability to pursue growth opportunities while returning capital to shareholders. As of March 31, 2026, the company had no short-term debt, while its liquidity position, comprising cash and cash equivalents, receivables and investments, stood at $6.6 billion.
As such, Franklin's strong liquidity position continues to support its shareholder-friendly capital distribution activities. In December 2025, the board authorized the repurchase of an additional 20.8 million shares, taking the total authorization to 40 million shares. As of March 31, 2026, shares worth $35.9 million remained available under the authorization. Further, the company raised its quarterly cash dividend by 3.1% to 33 cents per share in December 2025 and has increased dividends five times over the past five years. BEN currently offers a dividend yield of 3.9%, above the industry average of 2.5%. Meanwhile, Invesco and T. Rowe Price offer dividend yields of 2.9% and 4.8%, respectively.
Dividend Yield
Image Source: Zacks Investment Research
Concerns Prevailing for BENInvestment Management Fees Remain a Key Concentration Risk: The company's total revenues are heavily dependent on investment management fees, which represent its largest revenue source. These fees accounted for 79.3% of total revenues as of March 31, 2026, and have witnessed a volatile trend over the years. While the metric has generally trended upward in recent years, it largely depends on the level and mix of AUM, which are influenced by market conditions, client flows and investor preferences.
Further, Franklin's AUM is exposed to foreign exchange movements, regulatory changes and broader economic conditions. Thus, any sustained decline in AUM levels may pressure investment management fees and adversely impact the company's financial performance.
Higher Expenses Could Pressure Profitability: Franklin has been witnessing elevated operating expenses over the years. Though expenses declined in fiscal 2022, the metric recorded a CAGR of 7.9% over fiscal 2022-2025, with the upward trend continuing in the first six months of fiscal 2026.
Moreover, the acquisition of Apera Asset Management is expected to add roughly $30 million in expenses in fiscal 2026. While management expects efficiency savings to offset these costs, ongoing investments in technology, higher fundraising expenses and integration costs related to specialist investment managers may continue to pressure margins and limit bottom-line growth.
Analyzing BEN's Earnings Estimates and ValuationAnalysts are optimistic regarding Franklin’s earnings growth potential. Over the past month, the Zacks Consensus Estimate for the company’s fiscal 2026 and 2027 earnings has been revised upward. The estimated figures reflect respective year-over-year growth rates of 23.4% and 8.4%.
Earnings Revision Trend
Image Source: Zacks Investment Research
In terms of valuation, BEN stock appears inexpensive relative to the industry. The company is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 11.4X, which is below the industry’s P/E of 13.8X.
Price-to-Earnings F12M
Image Source: Zacks Investment Research
Meanwhile, Invesco holds a P/E ratio of 10.62X, while T. Rowe Price’s P/E ratio stands at 11.3X.
How to Approach BEN Stock Now?Franklin’s expanding alternatives platform, along with its strategic acquisitions and growing digital asset capabilities, is expected to support long-term AUM and revenue growth. Strong liquidity and consistent capital return initiatives further highlight the company’s financial strength and shareholder-friendly approach.
Improving earnings performance, a diversified product suite and a strengthening global distribution network continue to support Franklin’s long-term growth outlook. Additionally, BEN stock appears attractively valued relative to the industry.
However, volatility in investment management fees, along with a rising expense base driven by acquisitions and integration costs, is likely to pressure margins and earnings in the near term.
Hence, despite the recent rally, investors may prefer to wait for a more attractive entry point. Existing shareholders, however, may continue to hold the stock, given Franklin’s solid fundamentals and long-term growth initiatives.
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
NEW YORK--(BUSINESS WIRE)--Benefit Street Partners L.L.C. (“BSP”), Franklin Templeton’s private credit specialist investment manager with $93 billion in assets under management, (1) today announced that BSP CLO 50, a $500 million new-issue collateralized loan obligation (CLO), closed on May 26, 2026. The transaction was arranged in partnership with Scotiabank.
The closing of BSP CLO 50 marks a significant milestone for BSP’s U.S. CLO platform, which has raised approximately $25.5 billion in CLO capital since the firm’s first issuance in 2012. The platform has attracted support from more than 300 distinct investors since inception, reflecting the breadth of the firm’s investor relationships and the consistency of its CLO execution across market cycles.
“Closing CLO 50 is an important achievement for BSP and a testament to the strength, scale, and durability of our platform,” said Dan Ryan, Co-Head of the U.S. CLO platform at BSP. “We are grateful for the continued confidence of our investors and financing partners, and we remain focused on delivering disciplined credit selection, active portfolio management, and consistent execution.”
BSP has established itself as a leading CLO manager globally. The firm is currently ranked as the 9th largest U.S. CLO manager and the 8th largest CLO manager globally, according to Intex, and was the 5th most active new U.S. CLO issuer as of June 8, 2026, according to JPMorgan. The firm’s CLO platform is supported by BSP’s broader credit investment capabilities, deep underwriting resources, and long-standing relationships across the leveraged finance market.
“BSP CLO 50 underscores the continued momentum of our CLO franchise and the confidence investors have placed in our team,” said Vince Pompliano, Co-Head of the U.S. CLO platform. “Our track record has been built through disciplined investment selection, active portfolio management, and a long-term commitment to the CLO market. We believe those attributes will continue to differentiate BSP as we grow the platform.”
In addition to its U.S. business, BSP has continued to expand its European CLO capabilities, further broadening the firm’s global liquid and structured credit platform since 2002. BSP’s presence across both U.S. and European CLO markets enhances its ability to serve a diverse international investor base and pursue attractive opportunities across the global leveraged loan market.
BSP has also continued to deepen its CLO capital formation capabilities. In 2025, the firm closed its third captive fund, raising $500 million, further supporting the growth and stability of its CLO issuance program.
About Benefit Street Partners
Benefit Street Partners (“BSP”) is an alternative credit pioneer with $93 billion in assets under management (including Apera Asset Management) as of 31 March 2026. It seeks to deliver attractive, risk-adjusted returns through its deep specialism, long-term relationships and global reach. A wholly owned subsidiary of Franklin Templeton, BSP is focused on credit. Through its disciplined, solutions-oriented approach, BSP unlocks opportunities across market cycles and geographies. The firm manages strategies spanning private debt, real estate debt, structured credit, and liquid loans. For more information visit bspcredit.com.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With more than $1.78 trillion in assets under management as of May 31, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Benefit Street Partners L.L.C. (“BSP”), Franklin Templeton’s private credit specialist investment manager with $93 billion in assets under management, (1) today announced that BSP CLO 50, a $500 million new-issue collateralized loan obligation (CLO), closed on May 26, 2026. The transaction was arranged in partnership with Scotiabank.
The closing of BSP CLO 50 marks a significant milestone for BSP’s U.S. CLO platform, which has raised approximately $25.5 billion in CLO capital since the firm’s first issuance in 2012. The platform has attracted support from more than 300 distinct investors since inception, reflecting the breadth of the firm’s investor relationships and the consistency of its CLO execution across market cycles.
“Closing CLO 50 is an important achievement for BSP and a testament to the strength, scale, and durability of our platform,” said Dan Ryan, Co-Head of the U.S. CLO platform at BSP. “We are grateful for the continued confidence of our investors and financing partners, and we remain focused on delivering disciplined credit selection, active portfolio management, and consistent execution.”
BSP has established itself as a leading CLO manager globally. The firm is currently ranked as the 9th largest U.S. CLO manager and the 8th largest CLO manager globally, according to Intex, and was the 5th most active new U.S. CLO issuer as of June 8, 2026, according to JPMorgan. The firm’s CLO platform is supported by BSP’s broader credit investment capabilities, deep underwriting resources, and long-standing relationships across the leveraged finance market.
“BSP CLO 50 underscores the continued momentum of our CLO franchise and the confidence investors have placed in our team,” said Vince Pompliano, Co-Head of the U.S. CLO platform. “Our track record has been built through disciplined investment selection, active portfolio management, and a long-term commitment to the CLO market. We believe those attributes will continue to differentiate BSP as we grow the platform.”
In addition to its U.S. business, BSP has continued to expand its European CLO capabilities, further broadening the firm’s global liquid and structured credit platform since 2002. BSP’s presence across both U.S. and European CLO markets enhances its ability to serve a diverse international investor base and pursue attractive opportunities across the global leveraged loan market.
BSP has also continued to deepen its CLO capital formation capabilities. In 2025, the firm closed its third captive fund, raising $500 million, further supporting the growth and stability of its CLO issuance program.
(1) As of March 31, 2026
About Benefit Street Partners
Benefit Street Partners (“BSP”) is an alternative credit pioneer with $93 billion in assets under management (including Apera Asset Management) as of 31 March 2026. It seeks to deliver attractive, risk-adjusted returns through its deep specialism, long-term relationships and global reach. A wholly owned subsidiary of Franklin Templeton, BSP is focused on credit. Through its disciplined, solutions-oriented approach, BSP unlocks opportunities across market cycles and geographies. The firm manages strategies spanning private debt, real estate debt, structured credit, and liquid loans. For more information visit bspcredit.com.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With more than $1.78 trillion in assets under management as of May 31, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Here are three stocks with buy rank and strong income characteristics for investors to consider today, June 23:
Franklin Resources, Inc. (BEN - Free Report) : This asset management holding company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.6% over the last 60 days.
This Zacks Rank #1 company has a dividend yield of nearly 4%, compared with the industry average of 2.6%.
The Estee Lauder Companies Inc. (EL - Free Report) : This cosmetic products company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.1% over the last 60 days.
This Zacks Rank #1 company has a dividend yield of 1.7%, compared with the industry average of 0.0%.
Arko Corp. (ARKO - Free Report) : This chain of convenience stores has witnessed the Zacks Consensus Estimate for its current year earnings increasing 11.5% over the last 60 days.
This Zacks Rank #1 company has a dividend yield of 1.6%, compared with the industry average of 0.0%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Find more top income stocks with some of our great premium screens.
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At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.00% per year. These returns cover a period from January 1, 1988 through May 4, 2026. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer.
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Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Franklin Resources (BEN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Franklin Resources is one of 831 companies in the Finance group. The Finance group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Franklin Resources is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BEN's full-year earnings has moved 7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, BEN has returned 42% so far this year. Meanwhile, stocks in the Finance group have gained about 4% on average. This means that Franklin Resources is outperforming the sector as a whole this year.
Another Finance stock, which has outperformed the sector so far this year, is Popular (BPOP - Free Report) . The stock has returned 30.7% year-to-date.
In Popular's case, the consensus EPS estimate for the current year increased 5.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Franklin Resources belongs to the Financial - Investment Management industry, which includes 37 individual stocks and currently sits at #196 in the Zacks Industry Rank. On average, this group has lost an average of 9.3% so far this year, meaning that BEN is performing better in terms of year-to-date returns.
Popular, however, belongs to the Banks - Southeast industry. Currently, this 53-stock industry is ranked #80. The industry has moved +8.3% so far this year.
Going forward, investors interested in Finance stocks should continue to pay close attention to Franklin Resources and Popular as they could maintain their solid performance.
Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Based in San Mateo, Franklin Resources (BEN - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 42.03%. The investment manager is currently shelling out a dividend of $0.33 per share, with a dividend yield of 3.89%. This compares to the Financial - Investment Management industry's yield of 2.57% and the S&P 500's yield of 1.44%.
Looking at dividend growth, the company's current annualized dividend of $1.32 is up 3.1% from last year. Over the last 5 years, Franklin Resources has increased its dividend 5 times on a year-over-year basis for an average annual increase of 3.38%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Franklin Resources's current payout ratio is 51%, meaning it paid out 51% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for BEN for this fiscal year. The Zacks Consensus Estimate for 2026 is $2.77 per share, representing a year-over-year earnings growth rate of 24.77%.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.
Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. During periods of rising interest rates, income investors must be mindful that high-yielding stocks tend to struggle. That said, they can take comfort from the fact that BEN is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).
Franklin Resources (BEN - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Franklin Resources basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.
Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Franklin Resources imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.
Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for Franklin ResourcesThis investment manager is expected to earn $2.77 per share for the fiscal year ending September 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Franklin Resources. Over the past three months, the Zacks Consensus Estimate for the company has increased 7%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Franklin Resources to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Franklin Resources (NYSE:BEN | BEN Price Prediction) offers long-term investors a compelling income profile because its 40-plus year streak of annual dividend increases, 4.15% yield, and quiet pivot into high-margin alternative assets give patient retirees a paycheck that compounds without requiring a single trade.
The case here rests on reliability. At $31.81 with a forward P/E of 11 and a price-to-book ratio of 1.363, Franklin Templeton is priced as if the active-management business is in terminal decline. The disclosures say otherwise.
Pillar One: Durability of the Franchise Franklin manages $1.68 trillion in client assets across public and private markets, with $283 billion in alternatives alone. While Wall Street fixates on mutual fund outflows, management has spent years rebuilding the firm around stickier, higher-fee products. Private market fundraising hit $13.2 billion in the quarter and $22.7 billion fiscal year-to-date, already running ahead of the firm’s $25 billion to $30 billion annual target. Canvas, the tax-managed platform, has compounded at a 72% CAGR since 2022. ETF AUM reached $61.6 billion, up 67% year over year. This is a diversified, global, fee-based machine.
Pillar Two: Income You Can Spend For a retirement-focused investor, the math is straightforward. The board declared a $0.33 quarterly dividend, lifted from $0.32 a year ago, continuing a pattern that has marched from $0.055 per share in 1999 to today’s level across 27 years of uninterrupted growth. CFO Matthew Nicholls put it bluntly on the earnings call: “Our dividend is always top of the list. We want to protect and increase the dividend each year.” The firm bought back 2.3 million shares for $57.1 million last quarter on top of the cash distribution, and management is guiding to 30%-plus operating margins in 2027.
Pillar Three: Cycle Survival Asset managers live and die by recurring fees, and Franklin’s revenue model spreads risk across asset classes, regions, and vehicles. Investment management fees grew 9% year over year to $1.82 billion, with positive long-term net flows in every region and a $20.2 billion institutional pipeline of won-but-unfunded mandates. Multi-asset strategies have posted 19 consecutive quarters of positive flows. When markets crash, AUM contracts and fee revenue with it. That is the one scenario where Franklin underperforms: a prolonged equity bear market that compresses the asset base before private market commitments backfill it.
The Scenario That Leaves the Thesis Intact Western Asset Management still leaks capital, with $4.1 billion of long-term net outflows last quarter, and a sharp drawdown would temporarily shrink the fee base. That hurts, but the franchise remains intact. Excluding Western Asset, the firm has now posted nine straight quarters of positive flows, and 71% of strategy composite AUM is beating its benchmark over ten years. The dividend has survived 2008, 2020, and the 2022 rate shock without interruption.
For an investor who has been burned chasing momentum, Franklin Resources offers the opposite proposition: a 23 P/E blue-chip asset manager paying 4.15% to wait, with a Dividend Aristocrat record the market is treating as if it does not matter. For income-oriented holders, the compounding case rests on letting the next four decades of dividends do the work.
Franklin Resources has reignited growth through diversification, strong alternatives inflows, and improved operational leverage, following years of outflows and mixed M&A results. Fiscal Q2 2026 saw positive long-term net inflows of $16.9 billion, with alternatives contributing a record $14.3 billion and ex-Western flows gaining momentum. Operating margins are expanding, with management targeting high-29% exiting FY Q4 and >30% by 2027, supported by conservative assumptions and ongoing cost discipline.
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management (AUM) of $1.74 trillion at April 30, 2026, compared to $1.68 trillion at March 31, 2026. This month’s increase in preliminary AUM reflected the positive impact of markets and long-term net inflows of $4 billion, inclusive of $1 billion of long-term net outflows at Western Asset Management1. Excluding Western Asset Management, preliminary long-term net inflows were $5 billion.
By Asset Class:
(In USD billions)
Preliminary
30-Apr-26
31-Mar-26
31-Dec-25
30-Sep-25
30-Apr-25
Equity
$724.0
$669.7
$697.2
$686.2
$596.6
Fixed Income
437.2
434.3
437.7
438.7
440.3
Alternative
286.0
282.8
273.8
263.9
253.6
Multi-Asset
217.4
207.5
198.8
193.9
173.7
Long Term:
1,664.6
1,594.3
1,607.5
1,582.7
1,464.2
Cash Management
79.9
87.8
76.5
78.5
70.8
Total Ending AUM
$1,744.5
$1,682.1
$1,684.0
$1,661.2
$1,535.0
1 As of April 30, 2026, Western Asset Management had preliminary AUM of $216 billion, compared to $224 billion at March 31, 2026. This month’s preliminary AUM reflected cash management net outflows of $9 billion and the aforementioned preliminary long-term net outflows of $1 billion, partially offset by the positive impact of markets.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
Forward-Looking Statements
The financial results in this press release are preliminary. Some of the statements herein may include forward-looking statements that reflect our current views with respect to future events, financial performance and market conditions. Such statements are provided under the “safe harbor” protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and generally can be identified by words or phrases written in the future tense and/or preceded by words such as “anticipate,” “believe,” “could,” “depends,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “potential,” “preliminary,” “seek,” “should,” “will,” “would,” or other - similar words or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements.
Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that may cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements, including market and volatility risks, investment performance and reputational risks, global operational risks, competition and distribution risks, third-party risks, technology and security risks, human capital risks, cash management risks, and legal and regulatory risks. While forward-looking statements are our best prediction at the time that they are made, you should not rely on them and are cautioned against doing so. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other possible future conditions.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. They are neither statements of historical fact nor guarantees or assurances of future performance. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them.
These and other risks, uncertainties and other important factors are described in more detail in our recent filings with the U.S. Securities and Exchange Commission, including, without limitation, in Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 and our subsequent Quarterly Reports on Form 10-Q. If a circumstance occurs after the date of this press release that causes any of our forward-looking statements to be inaccurate, whether as a result of new information, future developments or otherwise, we undertake no obligation to announce publicly the change to our expectations, or to make any revision to our forward-looking statements, to reflect any change in assumptions, beliefs or expectations, or any change in events, conditions or circumstances upon which any forward-looking statement is based, unless required by law.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Five 'safer' S&P 500 dividend dogs—VICI, VZ, F, BEN, T—offer free cash flow coverage and attractive yields, meeting the dogcatcher ideal. Analyst forecasts project 22.68% to 38.34% net gains for top-ten S&P 500 dividend dogs by May 2027, with average risk 26% below the market. A 27% market correction could make all top 'safer' dividend dogs fair-priced, with annual dividends from $1K invested exceeding single share prices.
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Templeton, a global investment leader, today announced the launch of its Private Markets Model Portfolios, developed in collaboration with Corastone, a digital infrastructure platform and permissioned blockchain network designed to streamline, automate, and scale private market investments. The Private Markets Model Portfolios are designed to help financial advisors more efficiently incorporate private market investments within a professionally managed portfolio framework.
“This launch reflects the evolution of private markets in client portfolios and the need for structures that allow advisors to implement those allocations efficiently,” said George Stephan, Chief Operating Officer, Global Wealth Management Private Markets at Franklin Templeton. “By supporting a single-ticket, SMA-style structure, these model portfolios are designed to help reduce operational complexity and improve scalability, while enabling advisors to implement diversified private market exposure within a professionally managed portfolio framework.”
Franklin Templeton’s Private Markets Model Portfolios are designed to extend the model portfolio framework to private markets, offering diversified, multi-asset exposure within an SMA-style, single-subscription structure that lowers the minimum investment per fund and helps deliver a diversified exposure to private markets.
The model portfolio framework combines Franklin Templeton’s global investment capabilities across public and private markets with technology enabled by Corastone’s infrastructure. The integrated solution is designed to streamline key operational aspects of private market investing — including subscription processing, rebalancing, portfolio administration, and ongoing management — while maintaining transparency and direct ownership of the underlying funds. Through the model portfolios, clients gain direct exposure to underlying private market funds rather than accessing them through pooled fund-of-funds structures, supporting enhanced transparency, more frequent rebalancing cycles, and flexibility within client portfolios, subject to applicable fund terms, liquidity provisions, and suitability considerations.
“Private markets have historically been difficult to scale across advisor-managed model portfolios due to operational complexity and fragmented workflows,” said Rashad Kurbanov, Co-Founder and CEO of Corastone. “This solution combines Franklin Templeton’s investment capabilities with Corastone’s infrastructure, making it easier for advisors to implement and manage diversified private market allocations within client portfolios.”
Franklin Templeton offers a diversified private markets platform that brings together a range of specialized investment managers. This includes Lexington Partners, focused on private equity secondaries and co-investments; Clarion Partners, specializing in private real estate; and Benefit Street Partners, a leader in private credit. The platform is further complemented by Franklin Ventures, hedged strategies, and digital asset capabilities, providing investors with broad access across alternative asset classes.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With more than $1.74 trillion in assets under management as of April 30, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Franklin Resources, Inc. [NYSE: BEN]
About Corastone
Corastone is the hyperscaler for private market investing, providing the modern infrastructure that enables straight-through processing for GPs, wealth managers and fund administrators. Through a single integration, participants gain access to a vast ecosystem of investment opportunities and counterparties, helping them grow their business with confidence. Solely focused on infrastructure, Corastone enables consistent, repeatable processes throughout the investment lifecycle, fostering visibility, control and seamless operations. Built on a permissioned blockchain, Corastone is purpose-built to support new workflows, innovative products and the rapidly evolving private markets. For more information, visit corastone.us.
This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice. This material may not be reproduced, distributed or published without prior written permission from Franklin Templeton.
The views expressed are those of the investment manager and the comments, opinions and analyses are rendered as at publication date and may change without notice. The underlying assumptions and these views are subject to change based on market and other conditions and may differ from other portfolio managers or of the firm as a whole. The information provided in this material is not intended as a complete analysis of every material fact regarding any country, region or market. There is no assurance that any prediction, projection or forecast on the economy, stock market, bond market or the economic trends of the markets will be realized. The value of investments and the income from them can go down as well as up and you may not get back the full amount that you invested. Past performance is not necessarily indicative nor a guarantee of future performance. All investments involve risks, including possible loss of principal.
Investment strategies involving Private Markets (including investments in private companies and/or securities) are complex and speculative, entail significant risk, should not be considered a complete investment program, and are suitable only for persons who can afford to lose their entire investment. Such strategies may have limited liquidity in both the investment products and their underlying investments. Underlying investments may never list on a securities exchange and lack available information due to their private nature. These factors may negatively impact such investments’ market value and a manager’s ability to dispose of them at a favorable time or price.
Products, services and information may not be available in all jurisdictions and are offered outside the U.S. by other Franklin Templeton affiliates and/or their distributors as local laws and regulation permits. Please consult your own financial professional or Franklin Templeton institutional contact for further information on availability of products and services in your jurisdiction.
Key Takeaways BEN hit a 52-week high of $32.24 before closing at $32.04 amid strong momentum.BEN expansion includes crypto acquisition, Binance deal and AI partnerships boosting digital push.BEN AUM growth trend and improving revenue outlook are supported by distribution strength and inflows. Franklin Resources, Inc. (BEN - Free Report) shares touched a new 52-week high of $32.24 during yesterday's trading session. However, the stock closed the session a little lower at $32.04.
Over the past six months, shares of BEN have rallied 44.5% against the industry’s decline of 4.1%. Additionally, its close peers, such as Federated Hermes, Inc. (FHI - Free Report) and T. Rowe Price Group, Inc. (TROW - Free Report) , gained 13.6% and 1.2%, respectively, over the same period.
Price Performance
Image Source: Zacks Investment Research
Does BEN stock have more upside left despite showing recent strength in share price? Let us find out.
Factors Aiding BEN StockAcquisitions and Strategic Partnerships to Drive Expansion: Franklin has been actively expanding its business through acquisitions and partnerships to strengthen its investment capabilities and diversify its offerings. In April 2026, the company agreed to acquire 250 Digital, a crypto investment firm spun out of CoinFund, and launched the Franklin Crypto unit to enhance its digital asset capabilities and institutional reach. Earlier, in February 2026, Franklin partnered with Binance to introduce an off-exchange institutional collateral program aimed at improving the safety and capital efficiency of digital asset trading.
The company has also been focusing on strengthening its alternatives and technology platforms. In November 2025, Franklin partnered with Wand AI to scale agentic AI across research and operations as part of its digital transformation initiatives. In October 2025, it acquired Apera Asset Management, which increased its global alternative credit AUM to more than $90 billion and expanded its overall alternatives platform to nearly $270 billion. These initiatives are expected to support long-term growth and strengthen its alternatives platform.
Consistent AUM Expansion: The company has witnessed solid growth in its assets under management (AUM) balance over the years, recording a CAGR of 3.1% over the last five fiscal years (ending fiscal 2025), despite declines in fiscal 2022 and 2025. The growth trend continued in the first six months of fiscal 2026.
AUM Growth Trend
Image Source: Franklin Resources, Inc.
Franklin’s efforts to diversify into asset classes witnessing rising client demand, particularly alternative investments, are expected to support AUM growth in the coming period. Further, its regionally focused distribution model has strengthened the non-U.S. business and supported favorable net flows.
Improving Revenue Base: Franklin has benefited from organic growth over the years. Though revenues declined in fiscal 2023, the company recorded a CAGR of 1.9% over the last three fiscal years ending fiscal 2025. The growth momentum continued in the first six months of fiscal 2026.
The company’s strong distribution platform has supported diversified inflows across funds, vehicles and asset classes, driving business growth. Further, its early presence in several international markets has provided a first-mover advantage. Its efforts to diversify revenue streams, supported by a solid fixed-income pipeline, are expected to aid revenue growth going forward. The Zacks Consensus Estimate for sales is pegged at 3.6% and 1% year-over-year growth for fiscal 2026 and 2027, respectively.
Sales Estimates
Image Source: Zacks Investment Research
Strong Liquidity Position Supports Capital Distribution Activities: The company enjoys a solid balance sheet position. As of March 31, 2026, the company had no short-term debt. Further, its liquidity position, comprising cash and cash equivalents, receivables and investments, was $6.6 billion. Thus, Franklin’s strong liquidity position provides ample financial flexibility to support capital distribution activities while meeting operational and growth needs. In December 2025, its board authorized the repurchase of an additional 20.8 million shares, taking the total authorization to 40 million shares. As of March 31, 2026, shares worth $35.9 million remained available under the authorization.
Apart from the share repurchase program, the company pays regular dividends. In December 2025, BEN raised its cash dividend by 3.1% to 33 cents per share. Over the past five years, the company has raised its dividend five times. Its current dividend yield stands at 4.12%, above the industry average of 2.49%. Meanwhile, Federated Hermes and T. Rowe Price offer dividend yields of 2.72% and 5.05%, respectively.
Dividend Yield
Image Source: Zacks Investment Research
These capital distribution activities, combined with a strong liquidity profile, will likely stoke investors’ confidence in the stock.
Concerns Prevailing for Franklin ResourcesVolatile Investment Management Fees: Franklin’s investment management fees, which accounted for 79.3% of total revenues as of March 31, 2026, have witnessed a volatile trend over the years. The metric largely depends on the level and mix of AUM, making it vulnerable to market fluctuations, foreign exchange movements and regulatory changes.
While investment management fees declined in fiscal 2020 and fiscal 2023, the metric improved in fiscal 2021, fiscal 2022, fiscal 2024 and fiscal 2025. The uptrend continued in the first six months of fiscal 2026. Nevertheless, unfavorable changes in AUM and market conditions may hurt fee revenues going forward.
Rising Expense Base Remains a Concern: Franklin’s escalating expense base continues to be a headwind. Though expenses declined in 2022 due to lower sales and marketing costs and synergy benefits from the Legg Mason acquisition, the metric witnessed a CAGR of 7.9% over the last three years ended fiscal 2025. The uptrend continued in the first six months of fiscal 2026.
Further, the Apera acquisition is expected to add nearly $30 million in expenses in fiscal 2026. Ongoing technology investments, higher fundraising-related costs and integration expenses are likely to keep costs elevated and pressure bottom-line growth.
BEN's Earnings Estimates and Valuation AnalysisAnalysts are optimistic regarding Franklin’s earnings growth potential. Over the past week, the Zacks Consensus Estimate for the company’s fiscal 2026 and 2027 earnings has been revised upward. The estimated figures reflect respective year-over-year growth rates of 22.1% and 8.5%.
Earnings Estimate
Image Source: Zacks Investment Research
In terms of valuation, BEN stock appears inexpensive relative to the industry. The company is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 11.23X, which is below the industry’s P/E of 13.95X.
Price-to-Earnings F12M
Image Source: Zacks Investment Research
Meanwhile, Federated Hermes holds a P/E ratio of 10.56X, while T. Rowe Price’s P/E ratio stands at 10.74X.
Parting Thoughts on Franklin ResourcesFranklin’s strategic acquisitions and partnerships, expanding alternatives platform, and growing focus on customized portfolio solutions are expected to support long-term AUM and revenue growth. Further, strong liquidity and consistent capital distribution activities underscore the company’s financial stability and shareholder-friendly approach.
The company’s improving earnings performance, diversified investment offerings and strengthening global distribution platform also position it well for long-term growth. Additionally, BEN stock appears attractively valued relative to the industry.
However, volatility in investment management fees due to market fluctuations and a rising expense base remains a concern. Higher technology investments, integration costs and fundraising-related expenses are likely to pressure margins in the near term.
Hence, it may not be the ideal time to buy the stock. However, long-term investors with existing holdings may find value in maintaining their stake, given its solid fundamentals.
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Resources, Inc. (the “Company”) [NYSE:BEN] announced a quarterly cash dividend in the amount of $0.33 per share payable on July 10, 2026 to stockholders of record holding shares of common stock at the close of business on June 29, 2026. The quarterly dividend of $0.33 per share is equivalent to the dividend paid for the prior quarter and represents a 3.1% increase over the quarterly dividend paid for the same quarter last year.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
A month has gone by since the last earnings report for Franklin Resources (BEN - Free Report) . Shares have added about 7.5% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Franklin Resources due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Franklin Resources, Inc. before we dive into how investors and analysts have reacted as of late.
Franklin Q2 Earnings Beat Estimates, Revenues Rise Y/YFranklin reported second-quarter fiscal 2026 (ended March 31, 2026) adjusted earnings of 71 cents per share, which surpassed the Zacks Consensus Estimate of 55 cents per share. Also, the bottom line compared favorably with 47 cents reported in the year-ago quarter.
Results benefited from higher revenues. However, a slight decline in assets under management and elevated expenses remained headwinds.
The results include certain items. After considering those, net income (GAAP basis) was $268.2 million, up 77.1% year over year.
Revenues & Expenses Increase Y/Y
Total operating revenues increased 8.7% year over year to $2.29 billion in the fiscal second quarter. The rise was due to an increase in all the components except other revenues. Further, the reported figure outpaced the Zacks Consensus Estimate of $2.18 billion.
Investment management fees rose 8.7% year over year to $1.82 billion. Sales and distribution fees increased 8.7% year over year to $396.6 million. Shareholder-servicing fees rose 11.4% on a year-over-year basis to $69 million. Other revenues decreased 9% year over year to $10 million.
Total operating expenses increased marginally year over year to $1.97 billion. The rise was due to an increase in compensation and benefits costs, sales, distribution and marketing costs, and general, administrative and other costs.
Franklin reported an operating margin of 14.1% compared with 6.9% in the year-ago quarter.
AUM Rises
As of March 31, 2026, total AUM was $1.68 trillion, down marginally on a sequential basis.
Franklin’s long-term net inflows were $16.9 billion in the reported quarter compared with $28 billion in the prior quarter.
The average AUM was $1.70 trillion, which increased 1.5% on a sequential basis.
Capital Position
As of March 31, 2026, cash and cash equivalents and investments were $6.2 billion, while total stockholders' equity was $13.1 billion.
Capital Distribution
In the reported quarter, Franklin repurchased 2.3 million shares for $57.1 million.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.
VGM ScoresAt this time, Franklin Resources has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock has a grade of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Franklin Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerFranklin Resources is part of the Zacks Financial - Investment Management industry. Over the past month, MSCI (MSCI - Free Report) , a stock from the same industry, has gained 0.9%. The company reported its results for the quarter ended March 2026 more than a month ago.
MSCI reported revenues of $850.8 million in the last reported quarter, representing a year-over-year change of +14.1%. EPS of $4.55 for the same period compares with $4.00 a year ago.
MSCI is expected to post earnings of $4.82 per share for the current quarter, representing a year-over-year change of +15.6%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for MSCI. Also, the stock has a VGM Score of D.
Key Takeaways Franklin plans to acquire 250 Digital and launch Franklin Crypto to expand capabilities.Franklin partnered with Binance on an institutional collateral program for digital asset trading.BEN sees digital assets and alternatives as potential drivers of revenue diversification. Franklin Resources (BEN - Free Report) is sharpening its focus on digital assets at a time when institutional interest in crypto-linked investment products is steadily maturing. The planned acquisition of 250 Digital, a cryptocurrency investment firm spun out of CoinFund, marks a strategic step by BEN toward expanding its capabilities and strengthening its presence in active digital asset management.
Alongside the deal, Franklin is launching Franklin Crypto, a dedicated unit aimed at expanding its institutional-grade crypto capabilities. In February 2026, the company partnered with Binance to launch an off-exchange institutional collateral program designed to improve capital efficiency and reduce counterparty risks in digital asset trading.
The initiative aligns with Franklin's long-term strategy of expanding beyond traditional mutual funds and actively diversifying its revenue streams. Past acquisitions, including Putnam Investments and Apera Asset Management, have strengthened its alternatives platform, which now oversees approximately $270 billion in alternative assets.
Digital assets represent a natural extension of this diversification strategy. As institutional investors seek regulated exposure to cryptocurrencies, tokenized assets, blockchain infrastructure and decentralized finance, Franklin is positioning itself as an early mover among traditional asset managers. According to the April 2026 announcement, with $1.8 billion in digital asset asset under management (AUM) as of late 2025, the company already has a meaningful foundation on which to build.
From a financial standpoint, Franklin’s expanding digital asset platform has the potential to become a meaningful long-term growth catalyst. The company continues to contend with industry headwinds, such as fee compression in traditional asset management, ongoing net outflows in certain segments and intensifying competition from low-cost passive investment products. By increasing its exposure to digital assets and alternative investments, areas that typically generate higher fee margins than traditional index strategies, Franklin could strengthen revenue growth, enhance profitability and diversify its earnings base over time.
Other Firms Push Into Digital AssetsMajor finance firms, including BlackRock, Inc. (BLK - Free Report) and Interactive Brokers Group, Inc. (IBKR - Free Report) , have also been expanding into digital assets.
Since the approval of spot Bitcoin ETFs in January 2024, BlackRock’s flagship product, the iShares Bitcoin Trust (IBIT), has surged ahead to become the company’s leading revenue generator, outperforming several of its long-established equity and fixed-income funds. As of March 31, 2026, BlackRock’s AUM under digital assets was $60.7 billion, signaling a broader acceptance of cryptocurrencies within diversified portfolios.
In March 2026, Interactive Brokers launched a unified crypto trading platform for eligible individual investors in the European Economic Area through its regulated Ireland-based entity, Interactive Brokers Ireland Limited. The platform enables clients to trade digital assets and traditional securities within a single interface.
BEN’s Price Performance & Zacks RankThe company’s shares have gained 38.4% in the past six months against the industry’s 6.5% decline.
Image Source: Zacks Investment Research
Currently, Franklin carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Partnership connects Franklin Templeton’s Benji Technology Platform with MoonPay Trade’s institutional infrastructure to support stablecoin and tokenized money market fund exposure
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Templeton and MoonPay today announced a strategic partnership to make tokenized financial products more accessible and usable across the onchain financial ecosystem. The initial integration connects Franklin Templeton’s Benji Technology Platform with MoonPay Trade’s institutional trading infrastructure, allowing eligible institutional users to move between supported stablecoins and Franklin Templeton tokenized money market fund exposure through a fully onchain execution experience. Adding BENJI to MoonPay Trade serves as one of MoonPay’s first expansions beyond crypto, fiat, and stablecoins, introducing a new use case at the intersection of stablecoins, tokenized funds, and onchain capital markets.
By using MoonPay Trade’s existing quote, routing, execution, and network, the partnership is designed to make Franklin Templeton’s tokenized money market fund suite easier to use across institutional onchain workflows. For existing holders, it creates another pathway back into stablecoin liquidity, supporting greater flexibility across onchain treasury, liquidity management, portfolio rebalancing, and collateral-adjacent use cases.
“Tokenized money market funds only become more useful when they can move with the speed and programmability of the broader digital asset ecosystem,” said Sandy Kaul, Head of Innovation and Digital Assets at Franklin Templeton. “For us, leadership in this space means doing the work to make that unlock possible, and teaming up with MoonPay creates another trusted gateway for institutions to move between stablecoin liquidity and tokenized fund exposure.”
The partnership also builds on Franklin Templeton’s long-standing commitment to developing regulated, blockchain-enabled investment solutions and expanding their utility within institutional workflows, while marking an important step in MoonPay Trade’s expansion into tokenized finance and real-world asset infrastructure.
"Digital assets like tokenized money market funds provide benefits like improved liquidity and capital efficiency, but only if institutions have access to the onchain financial ecosystem," said Caroline D. Pham, CEO of MoonPay Institutional. "MoonPay’s strategic partnership with Franklin Templeton on liquidity and collateral solutions showcases the latest innovations driving institutional adoption of digital assets."
This partnership is expected to serve as the foundation for a broader strategic relationship between Franklin Templeton and MoonPay, focused on expanding trusted access to onchain financial markets.
Franklin Templeton is a pioneer in digital asset investing and blockchain innovation, combining tokenomics research, data science, and technical expertise to deliver cutting-edge solutions since 2018. The Benji Technology Platform is Franklin Templeton’s proprietary blockchain-enabled recordkeeping and transfer agency infrastructure that supports tokenized investment products across retail and institutional channels. Using this platform, Franklin Templeton launched the world’s first U.S.-registered mutual fund to use blockchain technology for transaction processing. In 2024 the firm leveraged the Platform to launch the first fully tokenized UCITS fund in Luxembourg, and launched the first retail tokenized fund in Singapore in 2025. In April 2026, Frankin Templeton announced the incorporation of BENJI tokens as payment consideration in the planned acquisition of 250 Digital, marking an important and innovative step toward conducting M&A transactions on chain. In the U.S., BENJI is available to retail investors through the Benji Investments mobile application on iOS and Android. Global institutions can access the platform through the Benji Institutional web portal.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With $1.74 trillion in assets under management as of April 30, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Franklin Resources, Inc. [NYSE: BEN]
About MoonPay
Founded in 2019, MoonPay is a global financial technology company that helps businesses and consumers move value across fiat and digital assets. MoonPay has more than 30 million customers across 180 countries and supports more than 500 enterprise customers spanning crypto and fintech. Through a single integration, MoonPay powers on- and off-ramps, trading, crypto payments, and stablecoin infrastructure, connecting traditional payment rails with blockchains. MoonPay maintains a broad regulatory footprint, including a New York BitLicense, a New York Limited Purpose Trust Charter, and money transmitter licenses across the United States, as well as MiCA authorization in the EU. MoonPay is how the world moves value.
MoonPay Institutional provides integrated technology solutions that are natively on-chain and interoperable across multiple protocol networks, with KYC and compliance tools for the entire digital asset transaction flow from wallet infrastructure, custody, on-chain order routing and trade execution, and collateral operations to stablecoin settlement.
There are risks associated with the issuance, redemption, transfer, custody, and record keeping of shares maintained and recorded primarily on a blockchain. For example, shares that are issued using blockchain technology would be subject to risks (including the following: blockchain is a rapidly-evolving regulatory landscape in the United States and in other countries, which might result in security, privacy or other regulatory concerns that could require changes to the way transactions in the shares are recorded.
Some statements may be forward-looking and reflect our current views about future events, financial performance and market conditions. These statements are provided under the safe harbor protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those not related solely to historical or current facts and can often be identified by words or phrases written in the future tense and/or preceded by words such as “anticipate,” “believe,” “could,” “depends,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “potential,” “preliminary,” “seek,” “should,” “will,” “would” or similar terms, though these are not the only ways such statements may appear.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause actual results to differ materially from outcomes expressed or implied by the statements. These factors include market and volatility risks, investment performance and reputational risks, global operational risks, competition and distribution risks, third-party risks, technology and security risks, human capital risks, cash management risks, and legal and regulatory risks. Although forward-looking statements reflect our expectations, at the time made, about our business, the economy and possible future conditions, you should not rely on them. They are not guarantees of performance, and new factors may arise that we cannot foresee. These risks and other important factors are described in our recent filings with the U.S. Securities and Exchange Commission, including Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended October 31, 2025, and subsequent Quarterly Reports on Form 10-Q. We undertake no obligation to update any forward-looking statements to reflect new information, future developments or other changes unless required by law.
Jenny Johnson, CEO of Franklin Templeton, and Adam Back, co-founder and CEO of Blockstream, talk about the recent drop in Bitcoin prices, institutional demand for crypto and how Franklin Templeton is moving more business functions onto the blockchain. They spoke with Scarlet Fu and Tim Stenovec on "Bloomberg Crypto."
Key Takeaways Franklin Templeton partnered with MoonPay to expand distribution of its tokenized money market funds.Franklin Templeton will integrate Benji with MoonPay's trading infrastructure for stablecoin-to-fund access.BEN digital asset push includes 250 Digital, Franklin Crypto and a Binance collaboration. Franklin Resources Inc.’s (BEN - Free Report) latest digital asset initiative, announced through its Franklin Templeton brand, reflects a continued effort to strengthen its position in the emerging market for tokenized assets. The company announced a partnership with MoonPay aimed at expanding distribution, deepening institutional adoption and strengthening Franklin Templeton's presence within the rapidly evolving digital asset ecosystem.
The partnership will integrate Franklin Templeton’s Benji Technology Platform with MoonPay’s institutional-grade trading infrastructure. This integration is expected to allow eligible institutions to move more efficiently between stablecoins and Franklin Templeton’s tokenized money market funds.
For Franklin Templeton, the partnership provides access to MoonPay’s established network of crypto-native firms, institutional traders, fintech companies and on-chain treasury managers. This could broaden the potential investor base for BEN’s tokenized funds and enhance the company’s ability to capture flows from institutions seeking regulated, yield-generating products within the digital asset markets.
The move also strengthens Franklin Templeton’s competitive positioning in tokenized finance. While several traditional asset managers are still testing blockchain-based applications, Franklin Templeton has already invested in infrastructure and launched tokenized investment products. By integrating those products with a major digital asset platform, the company is moving beyond product creation and toward ecosystem participation, wherein distribution, liquidity access and user experience are increasingly important competitive factors.
From a long-term perspective, the collaboration supports BEN's broader strategy of participating in the evolution of capital markets infrastructure. Tokenized money market funds are emerging as a key bridge between traditional finance and on-chain finance, offering institutions a way to access familiar investment products through blockchain-based rails. Embedding Franklin Templeton’s products within this infrastructure could help the company benefit if tokenized assets become a larger part of institutional portfolio management and treasury operations.
BEN’s Broader Digital Asset PushThe MoonPay partnership is the latest in a series of initiatives highlighting BEN’s expanding digital asset ambitions. In April 2026, the company agreed to acquire 250 Digital, a cryptocurrency investment firm spun out of CoinFund, expanding its capabilities and strengthening its presence in active digital asset management. The company is also launching Franklin Crypto, a dedicated unit aimed at expanding its institutional-grade crypto capabilities. In February 2026, the company partnered with Binance to launch an off-exchange institutional collateral program designed to improve capital efficiency and reduce counterparty risks in digital asset trading. The initiative aligns with BEN's long-term strategy of expanding beyond traditional mutual funds and actively diversifying its revenue streams.
Overall, BEN’s series of partnerships and efforts will strengthen the company’s distribution network, expand access to its tokenized funds and reinforce its position as a leading traditional asset manager in the growing blockchain-enabled capital markets ecosystem.
Other Firms Push Into Digital AssetsMajor finance firms, including Robinhood Markets, Inc. (HOOD - Free Report) and Interactive Brokers Group, Inc. (IBKR - Free Report) , have also been expanding into digital assets.
Robinhood introduced U.S. stock and exchange-traded fund (ETF) tokens for European Union (EU) investors. This will enable eligible HOOD clients to gain exposure to U.S. equities with zero commissions, dividend support and 24/5 access. This aligns with Robinhood’s strategy to grow in the cryptocurrency space through increased tokenization, enhanced capabilities and expansion into the EU markets.
Interactive Brokers has launched a unified crypto trading platform for eligible individual investors in the European Economic Area through its regulated Ireland-based entity, Interactive Brokers Ireland Limited. The platform enables clients to trade digital assets and traditional securities within a single interface.
BEN’s Price Performance & Zacks RankThe company’s shares have gained 34.5% in the past six months against the industry’s 10.4% decline.
Image Source: Zacks Investment Research
Currently, BEN carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management (AUM) of $1.78 trillion at May 31, 2026, compared to $1.75 trillion at April 30, 2026. This month’s increase in preliminary AUM reflected the positive impact of markets and long-term net inflows of $4 billion, inclusive of $1 billion of long-term net inflows at Western Asset Management1.
By Asset Class:
(In USD billions)
Preliminary
31-May-26
30-Apr-26
31-Mar-26
31-Dec-25
31-May-25
Equity
$751.5
$724.3
$669.7
$697.2
$630.8
Fixed Income
440.7
437.5
434.3
437.7
438.9
Alternative
289.5
287.5
282.8
273.8
254.4
Multi-Asset
219.1
217.2
207.5
198.8
178.3
Long Term:
1,700.8
1,666.5
1,594.3
1,607.5
1,502.4
Cash Management
78.8
79.9
87.8
76.5
71.0
Total Ending AUM
$1,779.6
$1,746.4
$1,682.1
$1,684.0
$1,573.4
1 As of May 31, 2026, Western Asset Management had preliminary AUM of $216 billion, compared to $216 billion at April 30, 2026. This month’s preliminary AUM reflected the positive impact of markets and the aforementioned preliminary long-term net inflows of $1 billion, partially offset by preliminary cash management net outflows of $2 billion.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
Forward-Looking Statements
The financial results in this press release are preliminary. Some of the statements herein may include forward-looking statements that reflect our current views with respect to future events, financial performance and market conditions. Such statements are provided under the “safe harbor” protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and generally can be identified by words or phrases written in the future tense and/or preceded by words such as “anticipate,” “believe,” “could,” “depends,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “potential,” “preliminary,” “seek,” “should,” “will,” “would,” or other - similar words or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements.
Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that may cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements, including market and volatility risks, investment performance and reputational risks, global operational risks, competition and distribution risks, third-party risks, technology and security risks, human capital risks, cash management risks, and legal and regulatory risks. While forward-looking statements are our best prediction at the time that they are made, you should not rely on them and are cautioned against doing so. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other possible future conditions.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. They are neither statements of historical fact nor guarantees or assurances of future performance. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them.
These and other risks, uncertainties and other important factors are described in more detail in our recent filings with the U.S. Securities and Exchange Commission, including, without limitation, in Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 and our subsequent Quarterly Reports on Form 10-Q. If a circumstance occurs after the date of this press release that causes any of our forward-looking statements to be inaccurate, whether as a result of new information, future developments or otherwise, we undertake no obligation to announce publicly the change to our expectations, or to make any revision to our forward-looking statements, to reflect any change in assumptions, beliefs or expectations, or any change in events, conditions or circumstances upon which any forward-looking statement is based, unless required by law.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
NEW YORK--(BUSINESS WIRE)--Fiduciary Trust International, a global wealth manager and wholly owned subsidiary of Franklin Templeton, announces that Harrison Laing has joined the firm as a wealth director based in its headquarters in New York, NY.
“Harrison shares our commitment to delivering financial clarity and peace of mind which strengthens client relationships from generation to generation. He is an ideal addition to our firm as we continue to expand the expertise we can offer.”
Share Mr. Laing joins Fiduciary Trust International from Bessemer Trust in New York, where he was vice president of business development and helped identify, source, and execute opportunities to grow firm assets under management. He previously worked in investment banking focused on mergers and acquisitions and activism defense at Bank of America. Earlier in his career, Mr. Laing was an associate in the private wealth management division at Merrill Lynch, where he led client engagement and portfolio strategy for ultra-high-net-worth individuals and families within The Kelley Group.
“Our high-net-worth and ultra-high-net-worth clients in the Greater New York region have come to expect fiduciary wealth management services that provide better alignment, greater tax efficiency, and more informed decisions across their financial lives,” said Anne Fitzpatrick Donahue, regional managing director for Fiduciary Trust International’s New York office. “Harrison shares our commitment to delivering financial clarity and peace of mind which strengthens client relationships from generation to generation. He is an ideal addition to our firm as we continue to expand the expertise we can offer.”
Mr. Laing graduated from the College of Charleston in Charleston, SC with a Bachelor of Science in business administration and a minor in finance. He holds licenses for FINRA Series 7, 63, 66, and 79.
“Fiduciary Trust International has established an impressive track record of providing holistic wealth and investment management advice, enabling clients to better understand how their decisions shape their overall financial picture,” said Mr. Laing. “I was particularly drawn to the strength of Fiduciary and Franklin Templeton’s investment platform, as well as the depth of its resources and capabilities and look forward to working with my new colleagues to empower clients and their families to improve their financial outcomes.”
Fiduciary Trust International remains committed to expanding its roster of experienced and talented wealth management professionals across the country, including its headquarters in New York. In April 2026, Tim Herpertz, CFA joined the firm as a portfolio manager in the New York office. In addition, Kevin F. Flood, CFP®, SE-AWMA™ began as a senior relationship manager in the firm’s New York office in August 2024, while Erica B. Landeros joined as a New York-based trust counsel in June 2024.
About Fiduciary Trust International
Fiduciary Trust International, a global wealth management firm headquartered in New York, NY, has served individuals, families, endowments and foundations since 1931. With over $108 billion in assets under management and administration as of March 31, 2026, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The New York-based firm and its subsidiaries maintain offices in Coral Gables, FL, Boca Raton, FL, Fort Lauderdale, FL, West Palm Beach, FL, St. Petersburg, FL, Radnor, PA, Lincoln, MA, Los Angeles, CA, San Mateo, CA, Washington, DC, Wilmington, DE, Reston, VA, and Atlanta, GA. For more information, please visit fiduciarytrust.com, and for the latest updates, follow Fiduciary Trust International on LinkedIn and X: @FiduciaryTrust.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With more than $1.74 trillion in assets under management as of April 30, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Actively managed ETF invests predominantly in investment grade CLO debt tranches across U.S. and European markets
SAN MATEO, Calif.--(BUSINESS WIRE)--Franklin Templeton, a global investment leader, today announced the launch of the Franklin BSP CLO ETF (YCLO or the Fund), an actively managed CLO ETF designed to seek capital preservation and current income by investing predominantly in investment grade collateralized loan obligation (CLO) debt tranches across U.S. and European markets.
The Fund is managed by Franklin Advisers, Inc., with sub-advisory services provided by Benefit Street Partners (BSP), Franklin Templeton’s alternative credit specialist investment manager.
The Fund draws on the scale and depth of BSP’s Structured Credit platform, which was founded in 2009 and manages over $9 billion of AUM. The strategy is led by Cathy Bevan and Brandon Chao, who each have more than 20 years of industry experience and have worked together for nearly a decade. The team invests using rigorous credit underwriting, portfolio construction, and active risk management.
“YCLO provides access to a compelling institutional asset class that offers floating-rate income, structural protections, and diversification potential within traditional fixed income portfolios,” said Cathy Bevan, Global Head of BSP Structured Credit. “What differentiates YCLO is the ability to invest dynamically across both U.S. and European CLO markets. We believe our global presence gives us a broader opportunity set and a deeper relative value perspective.”
“The CLO market and its investor base have continued to grow, while performance across CLO securities has become more differentiated in today’s market environment,” said Brandon Chao, CFA, Portfolio Manager, BSP Structured Credit. “This creates opportunities for BSP to apply its global relative value approach and active risk management within an ETF structure.”
“We are proud to bring BSP’s first ETF to market and expand Franklin Templeton’s ETF platform into CLOs,” said Jeff Masom, Head of U.S. Distribution and Global Wealth Management Private Markets at Franklin Templeton. “YCLO combines BSP’s deep CLO expertise with Franklin Templeton’s scale, distribution reach and ETF capabilities, giving advisors and investors access to an actively managed approach to CLO debt. As market conditions continue to evolve, we believe strategies like YCLO can play an important role in helping clients access differentiated sources of income through a familiar and efficient ETF structure.”
For more information, please visit Franklin Templeton ETFs and ETPs.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Franklin Resources, Inc. [NYSE: BEN]
About Benefit Street Partners L.L.C.
Benefit Street Partners L.L.C. (“BSP”) is an alternative credit pioneer with $93 billion1 in assets under management (including Apera). It seeks to deliver attractive, risk-adjusted returns through its deep specialism, long-term relationships and global reach. A wholly owned subsidiary of Franklin Templeton, BSP is focused on credit. Through its disciplined, solutions-oriented approach, BSP unlocks opportunities across market cycles and geographies. The firm manages strategies spanning private debt, real estate debt, structured credit, and liquid loans. For more information, visit bspcredit.com.
BSP’s $93 billion AUM is an estimate as of 3/31/2026 and includes Apera Asset Management. Important Information
ETFs and ETPs trade like stocks, fluctuate in market value and may trade at prices above or below the ETFs/ETPs net asset value. Brokerage commissions and ETF/ETP expenses will reduce returns.
ETF/ETP shares may be bought or sold throughout the day at their market price, not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs/ETPs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market.
All investments involve risks, including possible loss of principal. Collateralized Loan Obligations (CLOs) are complex investments and not suitable for all investors. CLOs carry risks largely dependent on the type of collateral held by the special purpose entity (SPE) and the tranche of the CLO in which the Fund invests. Although the Fund will invest primarily in investment grade-rated tranches, ratings may be downgraded, and even highly rated tranches can face defaults in stressed markets. CLOs are managed by independent entities responsible for selecting and managing the underlying loan collateral, adding another layer of risk. An investment in a CLO can lose value. Floating-rate loans and debt securities are typically rated below investment grade and are subject to greater risk of default, which could result in loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Liquidity risk exists when securities or other investments become more difficult to sell, or are unable to be sold, at the price at which they have been valued. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. The portfolio is, or could become, non-diversified and may invest in a relatively small number of issuers, which may negatively impact the performance and result in greater fluctuation in value. The fund is newly organized, with a limited history of operations. These and other risks are discussed in the fund’s prospectus.
Fiduciary Trust International Welcomes Harrison Laing as New York-Based Wealth Director Fiduciary Trust International, a global wealth manager and wholly owned subsidiary of Franklin Templeton, announces that Harrison Laing has joined the firm as a wealth director based in its headquarters in New York, NY.
Mr. Laing joins Fiduciary Trust International from Bessemer Trust in New York, where he was vice president of business development and helped identify, source, and execute opportunities to grow firm assets under management. He previously worked in investment banking focused on mergers and acquisitions and activism defense at Bank of America. Earlier in his career, Mr. Laing was an associate in the private wealth management division at Merrill Lynch, where he led client engagement and portfolio strategy for ultra-high-net-worth individuals and families within The Kelley Group.
“Our high-net-worth and ultra-high-net-worth clients in the Greater New York region have come to expect fiduciary wealth management services that provide better alignment, greater tax efficiency, and more informed decisions across their financial lives,” said Anne Fitzpatrick Donahue, regional managing director for Fiduciary Trust International’s New York office. “Harrison shares our commitment to delivering financial clarity and peace of mind which strengthens client relationships from generation to generation. He is an ideal addition to our firm as we continue to expand the expertise we can offer.”
Mr. Laing graduated from the College of Charleston in Charleston, SC with a Bachelor of Science in business administration and a minor in finance. He holds licenses for FINRA Series 7, 63, 66, and 79.
“Fiduciary Trust International has established an impressive track record of providing holistic wealth and investment management advice, enabling clients to better understand how their decisions shape their overall financial picture,” said Mr. Laing. “I was particularly drawn to the strength of Fiduciary and Franklin Templeton’s investment platform, as well as the depth of its resources and capabilities and look forward to working with my new colleagues to empower clients and their families to improve their financial outcomes.”
Fiduciary Trust International remains committed to expanding its roster of experienced and talented wealth management professionals across the country, including its headquarters in New York. In April 2026, Tim Herpertz, CFA joined the firm as a portfolio manager in the New York office. In addition, Kevin F. Flood, CFP®, SE-AWMA™ began as a senior relationship manager in the firm’s New York office in August 2024, while Erica B. Landeros joined as a New York-based trust counsel in June 2024.
About Fiduciary Trust International
Fiduciary Trust International, a global wealth management firm headquartered in New York, NY, has served individuals, families, endowments and foundations since 1931. With over $108 billion in assets under management and administration as of March 31, 2026, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The New York-based firm and its subsidiaries maintain offices in Coral Gables, FL, Boca Raton, FL, Fort Lauderdale, FL, West Palm Beach, FL, St. Petersburg, FL, Radnor, PA, Lincoln, MA, Los Angeles, CA, San Mateo, CA, Washington, DC, Wilmington, DE, Reston, VA, and Atlanta, GA.For more information, please visit fiduciarytrust.com, and for the latest updates, follow Fiduciary Trust International on LinkedIn and X: @FiduciaryTrust.
About Franklin Templeton
Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.
With more than $1.74 trillion in assets under management as of April 30, 2026, Franklin Templeton operates globally in more than 35 countries.
To learn more, visit franklintempleton.com and follow us on LinkedIn.
Key Takeaways BEN reported May 2026 AUM of $1.78 trillion, up 1.9% from the prior month.BEN benefited from positive markets and $4 billion of preliminary long-term net inflows.BEN saw gains across equity, fixed income, alternative and multi-asset AUM in May. Franklin Resources, Inc. (BEN - Free Report) reported its preliminary assets under management (AUM) of $1.78 trillion as of May 31, 2026, which increased 1.9% from the prior month.
Growth in the AUM balance was driven by the positive impact of markets and preliminary long-term net inflows of $4 billion, including $1 billion of long-term net inflows at Western Asset Management.
Breakdown of BEN's May AUM Based on Asset ClassFranklin recorded equity assets of $751.5 billion, which increased 3.7% from the previous month. The fixed income AUM of $440.7 billion at the end of May 2026 also increased nearly 1% from the prior month. Alternative AUM rose nearly 1% from the prior month to $289.5 billion.
Multi-asset AUM was $219.1 billion, up nearly 1% from April 2026. However, the cash management balance was $78.8 billion, down 1.4% from the previous month.
Our Viewpoint on FranklinMay reflected an increase for BEN, with total AUM supported by favorable markets performance and net inflows. Equity, fixed income and alternative assets recorded gains, while multi-asset AUM also edged higher. The company’s efforts to expand into asset classes with strong client demand, along with its regional distribution model and continued strategic acquisitions, are likely to support AUM growth over time.
BEN's Price Performance and Zacks RankOver the past year, BEN shares have gained 39.7% against the industry’s decline of 7.3%.
Image Source: Zacks Investment Research
Franklin currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer ReleasesTwo stocks, T. Rowe Price Group, Inc. (TROW - Free Report) and Victory Capital Holdings, Inc. (VCTR - Free Report) , will announce their monthly performances in the upcoming days.
Over the past year, shares of TROW and VCTR have risen 11.6% and 34.4%, respectively.
Key Takeaways BEN's Western Asset agreed to pay a $100 million civil penalty to settle SEC charges.The settlement resolves investigations by the SEC and the Department of Justice.BEN said the agreement allows Western Asset to avoid prolonged litigation and focus on clients. Franklin Resources, Inc.'s (BEN - Free Report) subsidiary, Western Asset Management Company ("Western Asset"), has agreed to pay a $100 million civil penalty to settle Securities and Exchange Commission ("SEC") charges related to its former co-chief investment officer Kenneth Leech's alleged cherry-picking scheme.
The SEC said Western Asset failed to properly supervise Leech and maintain adequate controls to detect his alleged trade-allocation misconduct. To resolve the matter, the firm agreed to pay a $100 million civil penalty, which will be distributed to affected investors through a Fair Fund, while neither admitting nor denying the regulator's findings.
In a regulatory filing, Franklin stated that Western Asset agreed to the settlement as a business decision to avoid prolonged litigation and focus on serving clients. The company also noted that the resolution concludes investigations by the SEC and the Department of Justice ("DOJ").
History of Western Asset's Trade-Allocation InvestigationThe matter stems from allegations that Leech engaged in a cherry-picking scheme involving U.S. Treasury derivative trades between January 2021 and October 2023. According to the SEC, Leech delayed allocating trades among client accounts until after observing market movements, allowing profitable trades to be allocated to certain favored portfolios, while less favorable trades were assigned to others.
In November 2024, the SEC charged Leech with fraud, alleging that he allocated hundreds of millions of dollars of net first-day gains to favored portfolios and a similar amount of net first-day losses to disfavored portfolios.
As part of its broader investigation, the SEC also examined Western Asset's supervisory controls. The regulator concluded that the firm knew or should have known that Leech's trading and allocation practices differed from those of other portfolio managers and failed to adequately oversee his activities. The SEC further found that Western Asset did not properly implement its trade-reallocation policies and failed to reasonably supervise its former co-CIO.
In December 2025, Franklin disclosed that the DOJ was prepared to resolve its investigation against Western Asset. The development signaled progress toward resolving the regulatory probes surrounding the firm.
How the Settlement Benefits FranklinThe settlement removes a major regulatory overhang tied to one of Western Asset's most significant legal matters in recent years. While the $100 million penalty represents a notable cost, the resolution concludes investigations by the SEC and DOJ and eliminates the uncertainty associated with prolonged regulatory proceedings.
With the matter largely behind it, Franklin can focus on strengthening Western Asset's compliance framework, retaining client assets and rebuilding investor confidence following a period of heightened scrutiny over the firm's trading practices.
BEN’s Zacks Rank & Price PerformanceOver the past six months, Franklin’s shares have risen 34.6% against the industry’s 16% decline.
Image Source: Zacks Investment Research
Franklin currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Financial Firms’ Progress to Fix Regulatory IssuesIn May 2026, the Federal Reserve officially terminated its 2023 enforcement actions against UBS Group AG (UBS - Free Report) tied to the collapse of Archegos Capital Management in 2021. The move marks the closure of one of the major enforcement matters inherited by UBS following its emergency acquisition of Credit Suisse in 2023.
The termination of the Fed’s Archegos-related enforcement action represents another milestone in UBS’ broader remediation efforts. The removal of this regulatory overhang could support UBS’ long-term integration efforts, profitability and operational efficiency.
In April 2026, Goldman Sachs Group (GS - Free Report) cleared a key regulatory overhang as the Federal Reserve Board terminated its 2018 enforcement action tied to the bank’s foreign exchange (FX) trading operations. The case originated in May 2018, when the Fed imposed a $54.75-million fine on Goldman Sachs for unsafe and unsound practices in its forex business.
For GS, the development marks the resolution of a legacy issue tied to industry-wide FX scrutiny. While the case underscored past control deficiencies, its closure highlights the bank’s progress in strengthening compliance and restoring regulatory confidence, allowing it to move forward without the burden of an outstanding enforcement action.
