• Earlier in June 2026, Morningstar Wealth said it is partnering with Franklin Resources, Apollo Global Management and J.P. Morgan Asset Management to build research-driven public/private model portfolios for advisors, while Franklin also launched an actively managed CLO ETF and pursued SEC exemptive relief for employee investment vehicles.
• Together with strong quarterly results and growing private-credit activity at Benefit Street Partners, these moves underline Franklin’s push to deepen its alternatives, ETF and tax-managed solutions footprint across wealth channels.
• We’ll now explore how this expansion into public/private model portfolios and alternative-credit ETFs may influence Franklin Resources’ existing investment narrative.

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Franklin Resources Investment Narrative Recap

To own Franklin Resources today, you have to believe its push into alternatives, ETFs and tax-managed solutions can offset fee pressure, active-fund outflows and integration challenges. The Morningstar public/private model portfolio partnership, CLO ETF launch and Benefit Street Partners’ CLO growth all support that higher-fee alternatives narrative, while the biggest near term risk remains ongoing Western Asset issues and broader fee compression. On balance, this month’s news appears supportive rather than transformative for that catalyst and risk pairing.

Of the recent announcements, the Morningstar Public/Private Select Series stands out as most directly tied to Franklin’s near term catalyst around alternatives growth. By embedding Franklin’s public and private strategies into research-driven model portfolios with accessible minimums, it potentially broadens distribution across advisor platforms. How effectively those flows materialize will matter for Franklin’s ability to counter pressure from lower margin products and any lingering drag from Western Asset and fee competition.

Yet behind these product wins, there is still the question of how much persistent active-outflow and fee pressure investors should be aware of...

Franklin Resources' narrative projects $8.7 billion revenue and $1.1 billion earnings by 2029. This requires fairly flat yearly revenue growth and about a $537 million earnings increase from $562.8 million today.

Uncover how Franklin Resources' forecasts yield a $27.36 fair value, a 18% downside to its current price.

Exploring Other Perspectives

The most bearish analysts were assuming revenue could slip to about US$8.4 billion by 2029 and still see earnings climb, so they start from a far more cautious view than the consensus and may revise that stance as partnerships like Morningstar’s public private models and Franklin’s alternatives expansion play out.

Explore 4 other fair value estimates on Franklin Resources - why the stock might be worth as much as 6% more than the current price!

Decide For Yourself

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Franklin Resources research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Franklin Resources research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Franklin Resources' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.