MutualFundWire.com: Jenny Bets On a Managed Options Specialist

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Tuesday, May 2, 2023

Jenny Bets On a Managed Options Specialist

Jenny Johnson and her team have sealed another deal, this time buying a three-year-old managed options specialist in the Northeast.

Jennifer M. "Jenny" Johnson
Franklin Resources, Inc. (dba Franklin Templeton)
President, CEO

Today, Roger Paradiso, head of product solutions for Franklin Resources, Inc. (dba Franklin Templeton [profile]), confirms that the San Mateo, California-based, publicly traded asset manager has acquired Westport, Connecticut-based volScout. VolScout will transform into Franklin Managed Options Strategies, LLC (Franklin MOST) and will become part of Franklin's product solutions division, which is led by Paradiso.

Pricing and terms of the deal have not been publicly disclosed. Convergency Partners advised volScout on the deal.

VolScout is led by managing partners Jon Orseck and Brad Berggren, along with chief technology officer Roger Weber. Per volScout's most recent form ADV, filed back in February, Berggren and Orseck owned between 25 and 49 percent of volScout each, while Weber and Convergency each owned between 10 and 24 percent. As of December 31, volScout had about $359 million in AUM.

Paradiso describes managed options strategies as "a highly complementary addition to Franklin Templeton's expanding menu of custom solutions, which advisors increasingly require to address the sophisticated needs of their clients."

"Brad, Jon and Roger have a long and successful history of delivering managed options solutions at scale to clients across channels and vehicle types, and bringing aboard such experienced and forward-thinking talent helps fuel our ongoing innovation to anticipate and address evolving client needs," Paradiso states.

Berggren, for his part, lauds Franklin for its "world-renowned brand and reputation as well as its tremendous global distribution reaech across both wealth management and institutional relationships." Orseck notes that both firms have a "client-first focus" and says he looks forward to "product collaboration opportunities."

"Our team will also benefit from leveraging Franklin Templeton's global infrastructure to enhance risk management, compliance, operations and technology capabilities," Berggren states.

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