26th Jan 2022 09:17
(Alliance News) - M&G PLC on Wednesday said it will partner with digital investment firm Moneyfarm to provide direct investment services to UK consumers.
The London-based investment manager said M&G Wealth, its UK wealth management arm, will use Moneyfarm technology to create a new direct digital service tailored to meet a range of customer risk appetites and profiles through a collection of multi-asset model portfolios, backed by a selection of actively-managed and passive funds.
Moneyfarm will deliver the operating models, including dedicated "squads" to support the technology platform and customer relationship management, together with custody and trading services, M&G explained.
M&G and Moneyfarm will also explore opportunities to partner in other European wealth markets.
Separately, M&G said it will invest for a minority stake in MFM Holding Ltd as part of its latest round of fundraising. It did not disclose the price or size of the investment.
Shares in M&G were up 1.9% at 216.70 pence on Wednesday morning in London.
By Heather Rydings; [email protected]
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