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Moneyfarm and M&G Wealth launch digital investment app

One year after partnering, M&G Wealth is launching its digital investment service with the help of Moneyfarm.

a man wearing glasses

David Montgomery/M&G Wealth.

M&G Wealth is launching a direct-to-consumer investment platform in the UK, “&me”, in partnership with Moneyfarm.

M&G led a £44.1m funding round in Moneyfarm a year ago for a minority stake, and said at the time that it would use the digital wealth manager’s expertise to launch its own investment service.  

One year later and M&G has launched the new investing app.

According to M&G it is designed to help consumers feel more confident in their investing decisions, combining the “simplicity of a digital-first” experience with the knowledge that people still like to get advice from “real people”.

“We are focused on helping people to manage and grow their savings and investments, responsibly,” M&G Wealth managing director David Montgomery said.

“We want to make investment choices and experiences accessible for everyone, no matter their circumstances. 

“This is where the &me investing app comes in, it is designed to help people invest with a long-term view and approach, encouraging them and helping to educate through the app and the dedicated &me consultants.”

The “bespoke investment experience” enables people to chat with people in the app and to book video meetings with &me consultants.

Through the app, customers can share their thoughts on investing and then are matched with one of six portfolios before choosing the type of account they need, whether that is a stocks and shares ISA, pension, general investment account or junior ISA.

“It is well documented that many people have money sitting in cash, despite receiving very little interest. So, we set out to help people and have worked with Moneyfarm, to create &me,” Montgomery continued,

“This is an easy-to-use investment app that guides people through the process of investing, but more importantly, has real people to help answer real questions. 

“Not everyone wants, or can afford, to take full advice and we want to enable more people to save and invest for the financial future they want and dream of.”

&me has the option of both classic and targeting portfolios – the former consist of a diversified portfolio of ETFs while the latter invest in a mix of active and passive funds.

The minimum investment amount is £500, with a sliding scale management fee that shrinks from 0.75 per cent to 0.35 per cent depending on the amount invested.

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