Asset manager M&G’s wealth management arm has partnered with robo adviser Moneyfarm to launch a direct to consumer digital wealth proposition.

Robo-adviser Wealthsimple is to quit the UK market after four and half years and transfer all clients to rival Moneyfarm.

Digital wealth manager Moneyfarm has launched a solution for UK advisers.

The fund management industry must drop “unnecessary charges”, a wealth firm says, because many savers are being scared away from investing by high costs.