Investment Product and Service Launches

Broadridge Financial Solutions collaborates with AI company; Franklin Templeton releases research hub; Morningstar launches market insights platform; and more.

Art by Jackson Epstein

Art by Jackson Epstein

Broadridge Financial Solutions Collaborates With AI Company

Broadridge Financial Solutions Inc. has announced a collaboration with artificial intelligence (AI) company Fligoo to develop a suite of proprietary predictive analytics software products for the wealth management industry.

Fligoo is an enterprise AI company that helps industry leaders boost their business performance. Fligoo Sharp AI Enterprise Suite software delivers business value through analytics, monitoring, closed-loop feedback and decision science. The product allows financial advisers to take a data-driven approach to optimizing and enhancing their relationship with investors, by both personalizing service and delivering in a manner and time preferred by clients.

“We’re excited to leverage Broadridge’s extensive wealth management expertise, insights and data to develop software that can create genuine innovation in the wealth management industry,” says Lucas Olmedo, CEO of Fligoo. “We have condensed the expertise acquired on hundreds of use cases in multiple industries into a product that has the power to augment the capacity/performance of advisers, firms and investors on a daily basis.”  

“Investors expect advisers to understand their specific needs, and we are creating an end-to-end practice management solution with Fligoo that uses AI to enable financial advisers to anticipate investor needs at every moment of the investment life cycle,” says Michael Alexander, president of wealth management at Broadridge. “Together, we are creating an entire predictive analytics suite that will enable advisers to personalize and digitize their client engagements in a way that will deepen and broaden relationships in a more scalable manner.”

Broadridge and Fligoo plan to launch additional AI-powered software products over the next year that will deliver insights to wealth management firms and their advisers.

Franklin Templeton Releases Research Hub

Franklin Templeton has launched its new Investment Institute.

It will serve as a center of excellence to harness the firm’s global investment expertise and extensive in-house research capabilities.

Stephen Dover, currently head of equities, has been named chief market strategist and head of the Investment Institute. Terrence Murphy, CEO of ClearBridge Investments, will take on an expanded leadership role as head of equities for Franklin Templeton.

“With these appointments and the launch of the Investment Institute, we are doubling down on what sets our firm apart—unmatched insight and research from experts on the ground in over 70 offices around the globe,” says Jenny Johnson, president and CEO of Franklin Templeton. “In this time of significant uncertainty, we are uniquely positioned to help clients find signal amid the noise. Whatever the issue, whatever the region, we will marshal diverse perspectives and proprietary analysis to best serve our clients. I am thrilled to have Stephen Dover leading this new effort.”

She continued, “Terrence Murphy has done a phenomenal job at ClearBridge, and I know he will be very effective in this expanded role. More broadly, this appointment demonstrates our commitment to propelling the business forward by harnessing the great talent across our organization.”

Dover and Murphy will begin their new roles on February 1. Both will report to Johnson. 

In his new role as chief market strategist, head of Franklin Templeton Investment Institute, Dover will continue to provide market insights for the firm and will also lead the Investment Institute’s operations. He will facilitate the sharing of research through multiple channels, including data analysis, proprietary content and academic partnerships.

“The Franklin Templeton Investment Institute brings together our deep research capabilities and global insights to create a hub for knowledge-sharing across the firm’s multiple autonomous specialist investment managers,” Dover says. “The ultimate mission of the Investment Institute is to provide research and data-driven insights for our clients to help them navigate the financial markets, armed with the power of our diverse investment expertise.” 

Morningstar Launches Market Insights Platform

Morningstar Inc. has announced its Morningstar Market Monitoring platform, a real-time information and market insights web-based application designed to empower advisers with the information they need to make sound financial decisions for investors. 

“Financial advisory firms are seeing an increasing need to be able to evaluate moments in time, such as mergers and acquisitions [M&As], stock splits, security trades, and governmental and regulatory updates, alongside research and valuation data to tell the whole story,” says Scott Burns, head of retail investing products and solutions for Morningstar. “By empowering financial advisers to have real-time information and Morningstar research and data at their disposal and integrated directly into their own workflows, their end investors can have the transparency and understanding of how market events might impact their portfolio and investment interests over a short- and long- time horizon.”

Morningstar Market Monitoring is a web-based platform that can be directly integrated with Morningstar Advisor Workstation or licensed as a separate platform, as select API [application programming interface] components or as data feeds. The platform features the ability to access global market data alongside proprietary Morningstar data and independent research and is configurable for the adviser. In addition to client dashboards for personal workflows, there are more than 40 configurable web components to help follow market changes on stocks, mutual funds, exchange-traded funds (ETFs), closed-ended funds, foreign exchange markets, options, preferred stocks, indexes, commodities and fixed income. The platform will also include access to market news updates from Down Jones Newswires.  

“We pride ourselves on being the source of truth for decisionmakers in the global financial community, giving them the up-to-the-minute news, data and analysis they need to quickly respond to market developments,” said William Ashworth, general manager, global partnerships, for Dow Jones’ business information and services division. “We’re thrilled to be working with Morningstar to make our trusted, licensed content available within the Market Monitoring platform—helping financial advisers and wealth managers make sense of market uncertainty, advise their clients and strengthen relationships in real-time.”

CAVU Announces Share Classes with Invesco

CAVU Securities LLC, a registered broker/dealer (B/D) and minority business enterprise (MBE) has launched three share classes delivered by Invesco Global Liquidity.

The new product offerings include the CAVU Securities Treasury Portfolio (Symbol: CVTXX), the CAVU Securities Government & Agency Portfolio (Symbol: CVGXX) and the CAVU Securities Liquid Assets Portfolio (Symbol: CVPXX). The new share classes seek to maximize current income within a framework geared to maximum safety of principal and liquidity.

“We are excited to join with Invesco to bring best in class asset management to our clients. By investing in the CAVU Securities Share Classes, investors will be able to drive diversity and inclusion across the business landscape as well as training and support for our country’s military veterans. As a corporate policy, CAVU will commit to giving, on an ongoing basis, a portion of the economic benefits it receives in the relationship with Invesco to organizations that fulfill universally important ESG [environmental, social and governance] mandates,” says CAVU’s CEO Greg Parsons.

“Invesco looks forward to working with CAVU to offer industry-leading investment strategies to its constituents,” adds Frank Dotro, head of global liquidity distribution for North America, Invesco. “We are excited for their three new share classes that follow our primary objective of preserving principal and liquidity, while seeking to deliver a competitive yield.”

Franklin Templeton Grows ETF Lineup

Franklin Templeton has announced the expansion of its active exchange-traded fund (ETF) lineup with the addition of Franklin Exponential Data ETF (XDAT). 

XDAT seeks capital appreciation by investing in companies focused on or expected to benefit from the use of large data sets and/or the growth of data, including the creation, collection, cleaning, analyzing, storage, securing, transport and/or sale of data. This includes, but is not limited to, cloud computing, data analysis, new security techniques, optical fiber, 5G and datacenter and tower infrastructure.  

“We believe the coronavirus pandemic has driven a long-term, structural acceleration of data transformation, improving the quality of businesses,” says Patrick O’Connor, global head of ETFs for Franklin Templeton. “As data continues to become increasingly important in our economy, the launch of XDAT showcases our continued efforts to remain nimble and adapt to the trends and needs of our clients in an evolving marketplace.”

XDAT is listed on the Cboe BZX Exchange Inc. (CBOE) and will be actively managed by seasoned portfolio managers Matthew Moberg and Joyce Lin within Franklin Equity Group. Both are located near Silicon Valley and have a long history of investing in the craft of innovation. 

Matt Moberg, senior portfolio manager with Franklin Equity Group, adds, “In our view, the rapid adoption of technological solutions during the pandemic is just the beginning. As we come to terms with how to live in a post-pandemic world, data is becoming essential to running a business, and those who manage it well have a competitive advantage, especially in the age of socially distancing.”