Western Asset Management (WAM), a subsidiary of Franklin Resources, Inc., is continuing to lose institutional clients. This trend follows the fraud charges brought against its former executive, Ken Leech, indicating persistent fallout from the legal issues.
The ongoing departure of institutional clients directly impacts WAM's assets under management and its ability to generate fee revenue. This situation underscores the lasting reputational damage and loss of trust resulting from the alleged misconduct.
Franklin Resources is actively working to mitigate these effects and stabilize WAM's business. However, the continued client losses highlight the significant challenges the firm faces in restoring confidence and stemming asset outflows from the subsidiary.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.