Prudential Financial announced on March 2, 2026 that its ActiveIncome insurance overlay will be available on Franklin Resources’ Canvas custom‑indexing platform through the FIDx Insurance Overlay marketplace. The overlay allows registered investment advisors to embed a protected lifetime income solution directly into managed‑account portfolios without requiring asset transfers, keeping clients invested while providing a guaranteed income stream.
Canvas, Franklin’s flagship custom‑indexing platform, has grown rapidly in recent years. It reported $10.5 billion in assets under management in the first quarter of 2025 and $13.8 billion by September 23, 2025. The platform is designed for advisors who want to build tax‑efficient, risk‑managed portfolios that can be tailored to individual client goals, and the addition of a regulated overlay expands its appeal to advisors focused on retirement income.
ActiveIncome is a contingent deferred annuity (CDA) that delivers protected lifetime income within a managed‑account structure. The product was first launched on Dimensional Fund Advisors’ UMA platform on July 7, 2025, and the new Canvas integration extends its reach to a broader advisor base. The overlay’s design allows investors to maintain liquidity while receiving a guaranteed income floor, a feature that differentiates it from traditional annuity products.
The partnership is a significant customer win for Franklin and a strategic expansion for Prudential. By adding the overlay to Canvas, Franklin deepens its relationship with a large financial‑services firm and positions itself to capture additional fee‑generating activity. For Prudential, the deal opens a new distribution channel for ActiveIncome, potentially increasing the product’s assets under management and reinforcing its focus on holistic, personalized wealth‑management solutions.
Ann Nanda, head of Retirement Future Growth and Firm Engagement at Prudential, said, "We have a tremendous opportunity to move beyond just retirement savings to focus on holistic, personalized wealth management and income planning to meet the needs of today's investors. Prudential's work with Franklin Templeton to launch ActiveIncome on Canvas is another example of our long‑standing, shared commitment to delivering innovative strategies and secure retirement outcomes for advisors and clients." Roger Paradiso, head of Custom Client Portfolios at Franklin Templeton, added, "Protected lifetime income is foundational to retirement security. By bringing insurance overlays into Canvas, we're giving advisors another way to manage risk and deliver personalized outcomes — helping clients stay invested and move into retirement with confidence."
The collaboration addresses a growing demand for retirement income solutions and leverages FIDx’s marketplace technology to streamline the integration of insurance overlays into managed accounts. Franklin’s acquisition of O'Shaughnessy Asset Management in January 2022 brought Canvas into its portfolio, and the new partnership further strengthens Franklin’s competitive positioning in the alternative‑investment and custom‑indexing space. Prudential, which had approximately $1.6 trillion in assets under management as of December 31, 2025, gains a new channel to deliver its ActiveIncome product to advisors who are increasingly seeking guaranteed income options for their clients.
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