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Ascentric and Prudential Financial Planning to rebrand as M&G Wealth

With £28 billion of AUM and AUA, M&G Wealth reveals new brand identities

M&G Wealth has announced that its wealth platform Ascentric and its advice business, Prudential Financial Planning (PFP), will adopt its name as part of a new brand identity. The existing business names will no longer be in operational use.

The company has also introduced a fresh new visual identity designed to show that ‘sustainability and inclusivity are at its core’.

M&G plc created M&G Wealth following its acquisition of Ascentric in 2020, integrating the company with existing businesses, PFP and M&G Direct.

Ascentric was formed in 2008. The company has written to supporting advisers about the changes, recognising that it’s their brand their clients know and trust, citing the history, strength, solidity and financial commitment of M&G to its future.

PFP was formed in 2011, wholly focused on direct engagement with customers through an employed restricted advice salesforce. In 2019 PFP announced the creation of The Advice Partnership (TAP), with a self-employed restricted advice salesforce. Last year PFP announced a wholescale shift in its model from employed to self-employed advisers and outlined ambitious growth plans to address the well-recognised ‘financial advice gap’. It also has a low-cost hybrid advice model under development, expected to launch later this year.

Assets under management and administration for M&G Wealth, as a whole, total £28 billion.

David Montgomery, Managing Director, M&G Wealth, said:

“Under M&G Wealth we now have an identifiable and significant advice platform, direct to customer service through advisers, and a tailored digital experience.

“The build is on strong foundations and expertise in our platform and advice businesses.  The look and feel continues the growth of our family of brands that fit together under M&G plc.

“Together we are greater than the sum of our parts – and I want that to be fully reflective in our brand and visual identity.

“Far more important to me is how we act and enhance our delivery to advisers and their clients and for sustainability and inclusivity to be at the very heart of M&G Wealth.

“By integrating our platform and  advice offerings into one overall proposition, we will create greater growth opportunities, be able to provide more options, and, with our commitment to investment in technology, ultimately bring enhanced experiences”.

Richard Denning, CEO, M&G Wealth platform said:

“Ascentric started as a trail-blazing brand, committed to supporting the future of advice.

“Through M&G Wealth we want advisers and their clients to feel empowered to make the best decisions to grow and protect their wealth in a sustainable way.  We are wholly focused to play our part in closing the advice gap to help people reach their goals, whatever their circumstances.

“The branding of a platform is very much secondary to the trust clients have in their adviser, but these changes reinforce the scale of commitment and ongoing investment that M&G plc has in our business”.

Chris Haines, CEO, M&G Wealth advice said:

“There is a huge, and growing, demand for financial advice.

“Our whole focus now is to make it as identifiable, accessible and affordable as possible and that’s why we are investing significantly in our proposition and digital capability.

“Not only have our customers to recognise, trust and become engaged to save with us, it’s got to be fully rewarding for them to do so”.

 

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