M&G Wealth, the new wealth management arm of M&G, has signed a deal with Australian fintech Ignition Advice to help it launch a low-cost, hybrid digital advice service this year. 

M&G Wealth has appointed Tim Clark from Financial Planning and IFA network Loyal North to be its first recruitment and acquisition director.

M&G Wealth has axed the brand names of its recently-acquired wealth platform Ascentric and its advice business Prudential Financial Planning (PFP) to bring the businesses under the M&G Wealth name.

After combining its Financial Planning businesses with platform Ascentric and the M&G funds business into M&G Wealth, the firm now has £28bn in assets across the division.