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31 January 2023

M&G Wealth and Moneyfarm launch &me

2023
  • Investing can be a smart way to complement your savings

  • &me is designed to help people feel confident about investing

  • Jargon and techno-babble free

  • Team of dedicated &me consultants so the client is never alone when investing

  • Classic investment portfolios and targeted portfolios that support a more sustainable future

Today sees the launch of &me, a new digital investment service powered by M&G Wealth. &me is an investing app designed to help people feel more confident in their investing decisions. It provides the simplicity of a digital-first investing experience but doesn’t forget that real people sometimes want help from real people. With &me clients can call or chat right from the app or book a video meeting with a dedicated &me consultant. The app helps clients to identify how they feel about investing, their comfort with risk and their financial goals. Then &me will match them with one of the six &me portfolios to suit their needs and then the customer chooses the type of account that is needed, be that a stocks and shares ISA, JISA, pension or general investment account. The app also gives them the ability to check how their investments are doing, whenever they want.

David Montgomery, Managing Director of M&G Wealth comments: “We are focused on helping people to manage and grow their savings and investments, responsibly. We want to make investment choices and experiences accessible for everyone, no matter their circumstances. This is where the &me investing app comes in, it is designed to help people invest with a long-term view and approach, encouraging them and helping to educate through the app and the dedicated &me consultants.

“It is also really important that everyone has confidence when they save or invest but it can be quite daunting to know where to start. It is well documented that many people have money sitting in cash, despite receiving very little interest. So, we set out to help people and have worked with Moneyfarm, to create &me. This is an easy-to-use investment app that guides people through the process of investing, but more importantly, has real people to help answer real questions. Not everyone wants, or can afford, to take full advice and we want to enable more people to save and invest for the financial future they want and dream of.”

The &me app will give customers a number of ways to invest including:
● Stocks and shares ISA
● Junior ISA (JISA)
● Personal Pension (SIPP)
● General Investment Account (GIA)

Clients can invest in the &me classic or targeted portfolios. The classic portfolios are made up of a diversified portfolio of exchange traded funds (ETFs), these tend to be lower cost investment options and will invest in equities and bonds across different regions such as US equities and UK corporate bonds.

The targeted portfolios invest in a blend of active and passive funds. These include actively managed funds from some of the world’s finest investment managers including Federated Hermes, First Sentier, iShares, M&G, Manulife, Pictet, PIMCO, Robeco and Wellington, investing in equities, bonds and alternatives. There is a maximum of 35% of the active funds that can be managed by any one firm.

Both the classic and targeted portfolios are actively managed which means clients can be reassured that M&G Wealth’s investment experts continually review a range of factors like the analysis, performance and global trends, make ongoing decisions about where to invest, and find new opportunities with the potential to deliver long-term returns.

M&G Wealth’s investment expertise is key to deciding which investments to use and how much to invest in each asset class on a client’s behalf.

The &me app gets to know the person, their circumstances, financial overview and risk appetite before recommending how to invest. There are a few simple questions about what they aim to achieve with the investment, &me considers the responses and creates a personalised portfolio recommendation. But If they would like help deciding what to do, or just want to feel reassured that they’re making a sound decision, that’s when the personal &me consultant comes in. And because the portfolios are benefitting from M&G Wealth’s investment expertise, there is the reassurance that world events and market changes are constantly monitored to help keep the investments on track. But it should be remembered that the value of investments can go down as well as up.

Shanti Kelemen, CIO, M&G Wealth said: “Unlike savings, investing involves an element of uncertainty. This is because when investing, your money is linked to the stock market and other assets which rise and fall in value. However, the longer you stay invested, the more likely your money will outgrow traditional savings accounts. So, once you have enough cash put away for a rainy day, considering investing the rest can be a smart move.

“There are two types of portfolios: the classic range of 6 risk rated portfolios which are all ETFs which helps to reduce costs and the 6 targeted risk rated portfolios which are designed to support a more sustainable future. We construct our portfolios by bringing together a collection of the world’s leading fund groups into each risk rated portfolio be that a mix of equities, bonds or alternative investments. These are all actively managed and the M&G Wealth investment team are constantly reviewing them to ensure the investments are on track.”

The minimum investment to use the &me app is £500 and as the fund grows the fee % shrinks:

Invested amount  Management fee 
 Up to £10,000  0.75%
 £10,000 to £20,000  0.70% 
 £20,000 to £50,000  0.65%
 £50,000 to £100,000  0.60%
 £100,000 to £250,000  0.45%
 £250,000 to £500,000  0.40%
 £500,000+  0.35%

On top of this management fee there is also an investment fund fee and for the classic range this is 0.19% and for the targeted range this is 0.42%. So, if a client invested £20,000 they would pay £14.67 per month if a classic portfolio was chosen and £17.83 per month for a targeted portfolio.

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Notes to editors

M&G plc is an international savings and investments business, managing money for around 5 million retail customers and more than 800 institutional clients in 28 markets. As at 30 June 2022, it had £348.9 billion of assets under management and administration. The purpose is to help people manage and grow their savings and investments, responsibly.

With a heritage dating back more than 170 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. M&G serve retail and savings customers under the M&G Wealth and Prudential brands in the UK and Europe, and under the M&G Investments brand for asset management clients globally.
M&G Wealth is part of M&G plc. It has four main parts, M&G Wealth Advice, M&G Wealth Platform, M&G Wealth Investments and a retail investment funds business, M&G Direct.

M&G Wealth launched a HYBRID advice business - ‘MAP your future’ - in late 2021, initially to a part of its existing customer base, where clients, often with modest wealth and a simpler set of financial needs, are able to get access to the advice that they currently find difficult to obtain – either because of the costs involved or the commercials commonly associated with an advice business (making it impractical to offer services to lower sums invested).

At the start of 2022 M&G plc also completed the acquisition of Sandringham Partners – an independent financial advice arm of M&G Wealth.

In January 2022 M&G plc announced a partnership agreement with Moneyfarm, a leading digital investment specialist, to provide direct investment services to UK consumers. M&G Wealth will use Moneyfarm’s existing technology, digital capabilities, and investment guidance journeys to back its own branded proposition.

In February 2022 M&G plc acquired TCF Investments to provide model portfolio services (MPS) and in April 2022 added a new range of six model portfolios focused on investing globally and incorporating ESG factors in its investment process.

In August 2022 month M&G announced that it was taking an initial 49.9% stake in National IFA Continuum Financial Services with a scheduled agreement in place to acquire the remainder over the following two years.

Moneyfarm is an award winning pan-European digital wealth manager with over 90,000 active investors and more than £2.4 billion in assets under management on the platform. Launched in 2012 and headquartered in the UK, Moneyfarm has a simple vision to help more people improve their financial wellbeing by making personal investing simple and accessible through technology. The business is a disrupter and considered to be one of the most influential fintechs in the UK and Italy.

The company is led by co-founders Giovanni Daprà and Paolo Galvani and it was announced in January 2023 that Dame Jayne-Anne Gadhia, former CEO of Virgin Money and Founder of Snoop, would join the company as its Chair. Moneyfarm is regulated by the FCA and backed by Allianz Asset Management, M&G plc, Cabot Square Capital, Poste Italiane S.p.A and United Ventures.

Moneyfarm continues to innovate and evolve its proposition and currently offers a stocks and shares ISA, JISA, SIPP, and General Investment Accounts (GIAs), with traditional risk rated portfolios and sustainable investing portfolios available. These are all available through both an online platform or via an easy to use app and combines the latest technology with human guidance available how the clients wants, including via the app, telephone, chat or a video call.

Moneyfarm is an acquisitive business and acquired Wealthsimple’s UK book of clients in December 2021 and most recently announced the acquisition of Profile Pensions, pending FCA approval, a UK digital pension adviser and consolidator which enables clients to consolidate and manage their pensions in a straightforward way.

In addition to its direct to client activities, Moneyfarm can provide its B2B2C partners with bespoke solutions, combining a technology platform, product wrappers, asset management capabilities, back office/operations and an engagement model. The most recent example is the solution for M&G Plc that saw the launch of a new digital investment service powered by M&G Wealth called &me (&me). These bespoke solutions are also embedded into the propositions of Poste Italiane (Postefuturo Investimenti), Unicredit’s Buddybank (Steppy by Moneyfarm) and Banca Sella (Sella Evolution powered by Moneyfarm), serving thousands of customers.

More information on Moneyfarm is available on the website at: www.moneyfarm.com

&me is a trading name of MFM Investment Ltd. MFM Investment Ltd. Authorised and regulated by the Financial Conduct Authority as an Investment Adviser and Investment Management Company – Authorisation no. 629539. By making an investment, your capital is at risk. The value of your &me investment depends on market fluctuations outside our control and you may get back less than you invested. Past performance is no indicator of future performance. The tax treatment of an &me Stocks and Shares ISA and an &me Pension depends on your individual circumstances and may be subject to change in the future. You should seek financial advice if you are unsure about investing.
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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.