M&G is partnering with digital investment firm Moneyfarm to launch its own direct investment service.
It said M&G Wealth, the company's UK wealth management arm, would use Moneyfarm's existing technology and digital capabilities to underpin its own branded proposition. M&G said it was moving into direct investing as the market had seen rapid growth over the last five years, with an average annual increase in assets under management of 18% to reach £351bn by the end of June 2021. Demand for digital investment services now accounts for 19% of all UK direct customers, added the business. Designed by M&G Wealth, the new direct digital service will be tailored to meet a range of custom...
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