M&G Wealth has announced that it has appointed Ignition Advice to develop a new low-cost hybrid digital advice offering – or robo-advice service, in common parlance.

Expected in the last-quarter of 2021, advice will still be provided by a human adviser but “underpinned by digital technology”, it will be targeted at the company’s existing customers before being offered more widely, M&G said.

“The streamlined proposition will reduce the time and cost to deliver advice allowing improved outcomes for those seeking to invest or retire with smaller sums of money.”

The service will be delivered th...