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Prudential Financial Inc. is collaborating with Franklin Templeton to expand access to its award-winning ActiveIncome innovation.

Now available on the Canvas investment platform through the FIDx Insurance Overlay marketplace, the vehicle offers a contingent deferred annuity to layer on top of retirees’ existing investment accounts. The partners announced the development March 2.

Prudential says ActiveIncome adds a new category of lifetime income to managed accounts, as well as another retirement tool for RIAs. It is designed to seamlessly integrate protected lifetime income into registered investment advisors‘ practices. ActiveIncome eliminates the need to move assets to an insurance carrier.

Ann Nanda is head of retirement future growth and firm engagement at Prudential. She said the partnership underscores a long-standing and shared commitment to advisors and clients.

With the overlay, “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,” she said.

In 2025, ActiveIncome took home a Datos Impact award for best innovation in retirement & income planning.

‘Another way to manage risk’

Roger Paradiso is head of custom client portfolios at global investment management firm Franklin Templeton. He described protected lifetime income as foundational to retirement security.

According to Alliance for Lifetime Income’s Retirement Income Institute, beginning in 2025, 4.1 million Americans will turn 65 each year through 2027. Among the contingency there emerges a “concerning trend,” LIMRA said, “the ‘Peak 65’ generation lacks sufficient protected income, putting them at risk of outliving their savings.”

“By bringing insurance overlays into Canvas, we’re giving advisors another way to manage risk and deliver personalized outcomes,” Paradiso added.

[W]e’re giving advisors another way to manage risk and deliver personalized outcomes.
— Roger Paradiso, Franklin Templeton

Based in California, Franklin Templeton has more than $1.7 trillion in assets under management as of Jan. 31. It operates in 35 counties worldwide.

FIDx’s Insurance Overlay marketplace connects carriers, wealth platforms and advisors for streamlined access to insurance solutions. Franklin Templeton’s Canvas platform is a leading wealth management solution. The tool helps build, implement and manage tax-optimized and personalized portfolios. The integration now allows advisors on Canvas to incorporate lifetime income protections and maintain asset control.

Distributed by Prudential Annuities Distributors Inc. of Shelton, Conn., Newark-based Pruco Life Insurance Co. issues ActiveIncome. Both are Prudential Financial companies.

Newark anchor-institution Prudential has approximately $1.6 trillion AUM as of Dec. 31, 2025. According to the company, its Retirement Strategies business provides more than $15 billion of protected income payments yearly to more than 3 million individual and institutional customers and pension obligation partners.