M&G completes Ascentric acquisition from Royal London

Brings £15.5bn AUA to M&G

Hannah Godfrey
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The FCA has approved the change in control of Ascentric
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The FCA has approved the change in control of Ascentric

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 ...

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