By WealthManagement, David Janowski, mentioning Halbert Hargrove
Plus multiple enhancements at Interactive Brokers; FP Alpha and PreciseFP partner, and EagleBrook, Franklin Templeton expand their relationship.
Advisors trying to keep abreast with generative artificial intelligence developments should note that Amazon this week added $2.75 billion to its investment in Anthropic.
For those unfamiliar, Anthropic is a start-up that competes with other big names in generative AI development including OpenAI and Google.
Eaglebrook Advisors Expands Partnership with Franklin Templeton
Eaglebrook Advisors and Franklin Templeton have put together a new managed Bitcoin and Ethereum separately managed account strategy.
Active asset manager Franklin Templeton has rolled out the Franklin Templeton Digital Asset Dynamic actively managed investment vehicle that the firm hopes will outperform a market cap-weighted portfolio comprising Bitcoin and Ethereum. The asset management firm is providing the model to Eaglebrook on a non-discretionary basis. Advisors who plan on using the SMA will also be able to include an automated tax overlay.
With the new strategy, the two firms are seeking to provide advisors working with high-net-worth investors with a better option for tax optimization. Eaglebrook’s platform has built-in tax optimization strategies that proactively identify opportunities to reduce or defer capital gain tax liability.
In 2022, Franklin Templeton introduced two digital asset SMA strategies via the Eaglebrook platform: the Franklin Templeton Digital Assets Core and the Franklin Templeton Digital Assets Core Capped.
Franklin Templeton is also an investor in Eaglebrook, having added $2.5 million in additional funding after the latter’s $20 million Series A funding round in early 2022.
Eaglebrook, which counts Dynasty Financial Partners, Mariner Wealth Advisors and Halbert Hargrove Global Advisors among its clients, works with more than 700 advisors and has more than $225 million in assets under management, according to the firm.
