Financial advisory M&G Wealth has rolled out a robo-advising investment platform, using an algorithm to determine a suitable portfolio for each customer’s risk appetite
A new M&G Wealth investment platform called &me was developed by tech provider Moneyfarm. It gives investors access to a choice of ‘classic’ and ‘targeted’ portfolios, depending on their individual financial knowledge level and financial situation.
The hybrid robo-advisor investment app is available on both Android and iOS as well as a web version. The variety of portfolios offered is subdivided into ‘classic’ and ‘targeted’.
Classic portfolios contain a diversified mix of ETFs investing in equities and bonds across different regions. The targeted portfolios invest in a combination of active and passive funds. These are mainly aimed at first-time investors.
The platform decides on appropriate investing choices during the onboarding process, using algorithmic analysis. The clients have to answer simple questions about their investing goals, ambitions, and attitudes towards risk, along with the specific terms and amounts they are willing to invest.
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Besides AI advisory service, &me also has a human touch. Dedicated consultants are available via phone, in-app, webchat or video calls. They support clients with their portfolios, the wider market questions or building their investment plans.
The rollout is a result of M&G’s last year’s investment. The firm took a stake in Moneyfarm in a funding round that raised £44.1 million. Besides platform development, Moneyfarm also supplies product wrappers, asset management capabilities, back office operations and human client consultancy services.