The latest wealth management merger and acquisition transactions in North America.

US-listed Franklin Resources, which owns firms such as Fiduciary Trust Company International, has bought AdvisorEngine, a digital wealth platform that serves more than 1,200 advisor businesses overseeing more than $600 billion of assets.

The asset and wealth management investment banking group at Raymond James & Associates was the exclusive financial advisor to AdvisorEngine on the transaction. Additional terms of the transaction were not disclosed.

AdvisorEngine will work closely with Franklin Templeton (Franklin Resources’ operating name) to co-create offerings such as goals-based financial planning tools and analytics for portfolios. The platform powers client relationship management, portfolio management, reporting, marketing and digital wealth solutions for financial advisory firms.

“We’re in the midst of the fourth industrial revolution, and technological advances are reshaping how financial solutions are delivered,” Jenny Johnson, president and CEO of Franklin Templeton, said.

AdvisorEngine will build out “smart automation”, such as for the next generation of its CRM product, Junxure.

“Our next phase of product development has the potential to change the paradigm of what a wealth management platform can be,” Craig Ramsey, AdvisorEngine chief operating officer, said. “We are bringing down the walls between CRM, portfolio management and productivity software. As this happens, advisors will deliver on the promise of ‘personalization-at-scale’ in a way that has not been possible previously.”