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.”