SimplyBiz and Defaqto parent company Fintel has reached a multi-year agreement with M&G which will see the investment firm sign up to its managed distribution service (MDS).
The partnership will cover M&G’s retail and savings businesses: Pru UK and M&G Investments.
Fintel explained its MDS is designed to enhance distribution by combining product providers’ outreach to financial advisers with insights from both Defaqto and SimplyBiz.
Currently, more than 20 firms have joined the service including Fidelity, Aviva, Just Group, Guardian, Schroders, BMO, Premier Miton, Carmignac and Tatton.
Matt Timmins, joint chief executive of Fintel, said: “Pru UK is a name known and respected both in households across the UK and within the sector, with a breadth of innovative solutions and market-leading expertise. We are passionate about our shared objective of supporting advisers in delivering the best possible outcomes to consumers, and I look forward to working closely together for many years to come.”
Rob Hickson, managing director of distribution a M&G Wealth, added: “We have enjoyed a long-term relationship with the various Fintel brands and the MDS agreement further strengthens and deepens our long-term strategic relationship.
“Our focus is on providing greater visibility, certainty and enhancements to all our services to the intermediary market. We are keen to continue to help build strength in the sector, helping to reduce the advice gap and ultimately achieve better outcomes and solutions for consumers.”
This article was first published on our sister title International Adviser.