Legg Mason acquired a majority stake in Financial Guard, an online wealth management and investment advice platform. The firm will operate as part of Legg Mason's alternative distribution strategies business, which focuses on combining technology with Legg Mason's investment affiliates' capabilities. The investment is part of Legg Mason's overall long-term strategy focused on creating choice for investors across investment capability, product and vehicle, and distribution. The transaction is expected to expand Financial Guard's access to financial institutions serving the needs of investors. Financial terms of the transaction were not disclosed.

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