It has been announced today that M&G plc is to acquire Ascentric from Royal London Group, subject to regulatory approval.

The acquisition is part of M&G’s strategy to grow its business in this important market, and to expand its range of service propositions for independent financial advisers (IFAs) and their clients. The acquisition brings a capability to offer third-party discretionary fund management services to M&G.

IFAs who use Ascentric will see no change to its operation. No one will be required to re-platform their business and Rob Regan, Ascentric’s CEO will continue to lead Ascentric.

Over time, M&G will invest further in the infrastructure of Ascentric. While Ascentric will remain an open architecture platform, M&G will also make more of its Prudential and M&G investment solutions available on it.

David Macmillan, Chief Customer and Distribution Officer at M&G plc, says: “We are really excited about Ascentric and its people joining our business. It’s a great operation, deservedly supported by so many advisers.

“We want to build on that success to deliver more top-class service propositions for advisers, powered by the fantastic investment capability we have here at M&G.”

"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company. The Prudential Assurance Company and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, a company incorporated in the United Kingdom. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.