Franklin Templeton announced the launch of its Preferred Partner Program, 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, known as Canvas P3, extends the platform’s personalization and tax management capabilities beyond Franklin Templeton products. It allows selected asset managers to deliver their investment strategies 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 offer select systematically tax-managed strategies in partnership with Franklin Templeton.
The strategies will initially begin with separately managed accounts. They will combine 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.
Canvas 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 based on each client’s circumstances while preserving the investment intent of the underlying strategy.
Franklin Templeton said the launch of Canvas P3 is part of its broader effort to provide technology-enabled, personalized investment solutions to advisors and their clients.
The Canvas platform is designed to help advisors create, transition, and manage customized portfolios with account-level tax management and implementation support.
Franklin Templeton had more than $1.78 trillion in assets under management as of May 31, 2026, and operates in more than 35 countries.
KEY QUOTES:
“We built Canvas to help advisors deliver more personalized and tax-efficient portfolios at scale. 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.”
Roger Paradiso, Head of Franklin Templeton Custom Client Portfolios
“The value of Canvas is in its scalable implementation. 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.”
Mark Lavan, Head of Wealth Management at Franklin Templeton
