Franklin Resources, Inc. (NYSE:BEN) Q3 2024 Earnings Conference Call July 26, 2024 11:00 AM ET

Company Participants

Selene Oh - Chief Communications Officer and Head of Investor Relations
Jennifer M. Johnson - President and Chief Executive Officer
Matthew Nicholls - Executive Vice President, Chief Financial Officer and Chief Operating Officer
Adam B. Spector - Executive Vice President, Head of Global Distribution

Conference Call Participants

Alex Blostein - Goldman Sachs
Brennan Hawken - UBS
Craig Siegenthaler - Bank of America
Dan Fannon - Jefferies
Michael Cyprys - Morgan Stanley
Brian Bedell - Deutsche Bank
Ken Worthington - JPMorgan
Bill Katz - TD Cowen
Patrick Davitt - Autonomous Research

Operator

Welcome to Franklin Resources Earnings Conference Call for the Quarter Ended June 30, 2024. Hello, my name is Sully, and I will be your call operator today. As a reminder, this conference is being recorded. And at this time, all participants are in a listen-only mode.

And, I would like to turn the conference over to your host, Selene Oh, Chief Communications Officer and Head of Investor Relations for Franklin Resources. You may begin.

Selene Oh

Good morning, and thank you for joining us today to discuss our quarterly results. Statements made on this conference call regarding Franklin Resources Inc., which are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from any future results expressed or implied by such forward-looking statements.

These and other risks, uncertainties and other important factors are just described in more detail in Franklin’s recent filings with the Securities and Exchange Commission, including in the Risk Factors and the MD&A sections of Franklin’s most recent Form 10-K and 10-Q filings.

Now, I’d like to turn the call over to, Jenny Johnson, our President and Chief Executive Officer.

Jennifer M. Johnson

Thank you, Selene. Hello, everyone, and thank you for joining us today to discuss Franklin Templeton’s results for the third fiscal quarter of 2024.

I’m joined by Matt Nicholls, our CFO and COO; and Adam Spector, our Head of Global Distribution. We’ll answer your questions in a few minutes, but first I’d like to review some highlights from the quarter.

During our third quarter, investors continued to be faced with a complex investment landscape due to dynamic financial markets amidst macroeconomic, geopolitical and election uncertainty. Starting with public equity markets. The S&P 500 reached an historic milestone earlier this month, closing above 5,500 for the first time and continuing its streak of strong performance in 2024. Likewise, the Nasdaq 100 also hit record levels surpassing the 20,000 mark.