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M&G appoints Australia’s Ignition for hybrid robo-advice offering
M&G Wealth has appointed Australia’s Ignition Advice to develop a low-cost robo-advice hybrid service.
Expected to be fully operational by the last quarter of 2021, the hybrid robo proposition will see advice provided by a human adviser underpinned by digital technology. It will initially be targeted at existing clients before being made more widely available.
According to M&G, the service will streamline the time and cost of delivering advice and allow for “improved outcomes” for those seeking to invest or retire with smaller sums of money.
Richard Caldicott, deputy CEO, M&G Wealth Advice, said: “We want as many people as possible to access advice in an efficient, understandable, convenient, affordable and sustainable way.
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Richard Caldicott, M&G Wealth
M&G Wealth plans to develop a low-cost “hybrid digital advice offering” with advice being provided by a human but underpinned by digital technology.
It has appointed advice technology specialist Ignition, which was founded in Sydney in 2014. The technology firm is making its move on the UK market and will be establishing teams in London and Edinburgh. It created a Dublin base in 2017.
The new service from M&G is expected in the last quarter of this year. It will be targeted at the company’s existing customers before being offered more widely.
M&G says the proposition will be streamlined and will “reduce the time and cost” to deliver advice allowing “improved outcomes” for those looking to invest or retire with smaller sums of money.
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