It is a fundamental requirement for a financial services firm to identify and manage conflicts of interest. This is central to the duty of care we owe to our clients. M&G will use all reasonable endeavours to identify conflicts of interest and then take steps to either avoid, or manage, them effectively and to treat clients fairly.
This document seeks to provide a high-level description of how conflicts of interest can arise in our business and how they are managed. M&G has numerous controls, policies and procedures in place to ensure that we effectively identify, prevent and/or manage conflicts when providing services or products to clients. M&G employees, directors and non-executive directors of entities within the M&G Group (together ‘Employee’) are required to follow them.
As M&G Wealth is a business unit within the M&G plc group, actual or potential conflicts arising from that relationship have also been considered as part of this statement.
A conflict of interest may arise where competing obligations or motivations may damage the interests of clients.
In identifying the conflicts of interest that may arise when providing services to clients, M&G will consider the following:-
M&G is required to maintain and operate effective organisational and administrative arrangements with a view to taking all appropriate steps to prevent conflicts of interest from adversely affecting the interests of clients.
M&G has a strong culture of managing conflicts of interests, supported by a wide range of processes and policies. All staff are provided with training to ensure awareness and understanding of how conflicts could arise and to enable staff to identify, report and adequately manage such conflicts.
Steps taken by M&G to manage actual and potential conflicts can include, but is not limited to, the following:
Overall responsibility for the oversight of conflicts of interests framework for the M&G Wealth Model Portfolio Services resides with the M&G Wealth Investments LLP Management Board. The Board is responsible for embedding the appropriate culture and ensuring the firm acts consistently with its duty to deliver fair outcomes to customers.
If the arrangements made by M&G to identify, prevent or manage a conflict of interest are not sufficient to ensure, with reasonable confidence, that risks of damage to a client’s interests will be prevented, M&G will make an appropriate disclosure (in accordance with regulatory requirements) to the relevant client before undertaking any further activity.
Where it is not possible to satisfactorily manage a conflict (including where disclosure is not a sufficient option) M&G will decline to act for the client concerned.
This statement is issued for and on behalf of the M&G Group, including regulated entities and other relevant operating subsidiaries.
This statement is issued for and on behalf of M&G Wealth Investments LLP, which is a subsidiary of M&G plc. M&G Wealth Investments LLP is part of the M&G Wealth division.
Issued by M&G Wealth Investments LLP, which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales with company number OC305442. Registered office: 10 Fenchurch Avenue, London EC3M 5AG.
M&G Wealth Investments LLP is a subsidiary of 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.