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M&G Wealth appoints firm to create hybrid advice service
M&G Wealthhas appointed Ignition Advice to build a hybrid advice service that will be ready to deploy by the end of 2021.
M&G Wealth said the low-cost service will be provided by a human adviser but underpinned by technology . It will first target the company s existing customers before taking it to the wider market.
It said the streamlined service will reduce the time and cost it takes to deliver advice for those with smaller sums to invest.
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The service will be delivered through the firm s existing advisers. M&G Wealth Management is made up of Ascentric - the platform business it acquired last September from Royal London - along with its direct funds arm and two financial advice businesses, Prudential Financial Planning and The Advice Partnership (TAP).
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Richard Caldicott, M&G Wealth
M&G Wealth plans to develop a low-cost “hybrid digital advice offering” with advice being provided by a human but underpinned by digital technology.
It has appointed advice technology specialist Ignition, which was founded in Sydney in 2014. The technology firm is making its move on the UK market and will be establishing teams in London and Edinburgh. It created a Dublin base in 2017.
The new service from M&G is expected in the last quarter of this year. It will be targeted at the company’s existing customers before being offered more widely.
M&G says the proposition will be streamlined and will “reduce the time and cost” to deliver advice allowing “improved outcomes” for those looking to invest or retire with smaller sums of money.
Being made redundant forced him ‘to take the leap’
A financial adviser has unveiled his own wealth management firm several months after he was made redundant at Prudential.
Nathan Waldron was previously a partner at Prudential Financial Planning and a premier relationship manager at Barclays.
He has now set up Waldron & Co Financial Planning, which will offer retirement, protection, investment and estate planning services.
The firm will deal with clients based in Staffordshire but, as Waldron is working from home, new clients are being accepted from across the whole of the country.
Waldron & Co Financial Planning is an appointed representative of Prudential Financial Planning, trading as The Advice Partnership.