M&G completes Ascentric acquisition from Royal London

Brings £15.5bn AUA to M&G

clock • 1 min read

M&G has completed the acquisition of platform Ascentric, which it bought from Royal London.

The acquisition, which was first announced in May, is part of M&G's strategy to grow its business and expand its range of services for financial advisers and clients. The move brings £15.5bn of assets under administration to M&G as well as relationships with more than 1,500 UK advisory firms acting on behalf of 90,000 individual customers. Ascentric CEO Rob Regan will continue to lead the platform, and will also sit on the customer and distribution leadership team led by M&G chief customer and distribution officer David Macmillan. Royal London's decision to sell Ascentric followed ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Platforms

Retail access to crypto ETFs to face Consumer Duty hurdles even if 'unlikely' UK approval granted

Retail access to crypto ETFs to face Consumer Duty hurdles even if 'unlikely' UK approval granted

Platform concerns over investor protections

Valeria Martinez
clock 17 January 2024 • 3 min read
FCA raises alarm on platforms' handling of customer cash interest

FCA raises alarm on platforms' handling of customer cash interest

Cracks down on ‘double dipping’

Sahar Nazir
clock 12 December 2023 • 1 min read
LTAFs elude retail investors as platforms shun Innovative Finance ISA

LTAFs elude retail investors as platforms shun Innovative Finance ISA

Following Autumn Statement plans

Cristian Angeloni
clock 07 December 2023 • 3 min read
Trustpilot