Financial advice plays a key role in making informed decisions about how to meet your current needs and how to reach your long-term goals, but most U.S. workers don’t have access to this type of information. Without proper guidance to navigate complex financial decisions, U.S. workers risk making uneducated decisions that could negatively impact their financial well-being for years to come. Is there a way to make financial advice accessible to everyone, not just affluent Americans? 

This week, Jack talks with Yaqub Ahmed, Head of U.S. Investment-Only at Franklin Templeton about the democratization of financial advice. With over 25 years of experience in financial services, Yaqub is an expert in strategic partnerships, M&A, fintech, and regulation in the U.S. retirement and insurance markets. Jack and Yaqub discuss how Yaqub’s role fits into Franklin Templeton’s overarching strategy, how Franklin Templeton became involved in the financial advice industry, and why Franklin Templeton has prioritized collaboration with other businesses. 

In this episode, Yaqub talks to Jack about the financial advice gap that plagues the wealth management industry, Franklin Templeton’s goal to democratize financial advice for underserved markets, and the role of strategic alliances in driving this mission.

Key Takeaways

Quotes

[02:44] - “The industry's obviously changing very, very fast. Franklin, I think, is staying way ahead of that and identifying blind spots, but also identifying areas of opportunity just from a sizing and scales perspective.” ~ Yaqub Ahmed

[08:31] - “We're solving some of the biggest financial planning needs for U.S. workers or households and individuals across wealth management. And those goals are saving for retirement, saving for education, and protecting those savings as well.” ~ Yaqub Ahmed

[11:18] - “It's the top 5% of wealth in the U.S. that wealth managers are attracted to because that's where the money is. But there's a major advice gap with this mass underserved marketplace. And we need to find a way to get advice to them and make sure that advice is informed with data.” ~ Yaqub Ahmed

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