<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/seventeenafiler" xmlns:com="http://www.sec.gov/edgar/common">
  <!--Generated by Workiva-->
  <headerData>
    <submissionType>X-17A-5/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <filerCik>0001132573</filerCik>
          <filerCcc>XXXXXXXX</filerCcc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
    </filerInfo>
  </headerData>
  <formData>
    <submissionInformation>
      <periodBegin>10-01-2024</periodBegin>
      <periodEnd>09-30-2025</periodEnd>
      <typeOfRegistrant>
        <typeOfBDRegistrant>Broker-dealer</typeOfBDRegistrant>
      </typeOfRegistrant>
      <materialWeakness>N</materialWeakness>
      <amendmentDescription>Filing restated financial statements</amendmentDescription>
    </submissionInformation>
    <registrantIdentification>
      <brokerDealerName>Franklin Distributors, LLC</brokerDealerName>
      <businessAddress>
        <com:street1>One Franklin Parkway</com:street1>
        <com:city>San Mateo</com:city>
        <com:stateOrCountry>CA</com:stateOrCountry>
        <com:zipCode>94403</com:zipCode>
      </businessAddress>
      <contactPersonName>David Paterson</contactPersonName>
      <contactPersonPhoneNumber>801-952-3309</contactPersonPhoneNumber>
    </registrantIdentification>
    <accountantIdentification>
      <accountantName>PricewaterhouseCoopers LLP</accountantName>
      <accountantAddress>
        <com:street1>405 Howard Street</com:street1>
        <com:street2>Suite 600</com:street2>
        <com:city>San Francisco</com:city>
        <com:stateOrCountry>CA</com:stateOrCountry>
        <com:zipCode>94105</com:zipCode>
      </accountantAddress>
      <accountantType>Certified Public Accountant</accountantType>
    </accountantIdentification>
    <oathSignature>
      <signPersonName>david.paterson@franklintempleton.co.uk</signPersonName>
      <entityName>Franklin Distributors, LLC</entityName>
      <signDate>11-03-2026</signDate>
      <signature>David Paterson</signature>
      <oathTitle>Chief Financial Officer and Designated Financial Principal</oathTitle>
      <confirmNotarizedFlag>N</confirmNotarizedFlag>
    </oathSignature>
  </formData>
</edgarSubmission>
