M&G has announced the launch of a new £28 billion wealth management business – the result of the firm combining a number of its existing businesses into one division.

M&G Wealth Management comprises Ascentric, the platform acquired from Royal London earlier in the year, Prudential Financial Planning, The Advice Partnership (TAP) and the M&G direct funds business.

Ascentric is a digital wrap and wealth management platform for advisers with assets under administration of £14 billion, around 1,500 advi...