M&G to add PruFund range to Scottish Widows Platform

M&G has agreed to make its PruFund range available on the Scottish Widows Platform, marking its first third-party platform launch.

Advisers will be able to access the £70bn fund range through the retirement platform, building on its existing availability on the M&G Platform and broadening access to the multi-asset funds, which are aimed at clients preparing for and moving through retirement.

The partnership was enabled through M&G’s existing relationship with wealth technology provider FNZ.

PruFund aims to support people through the later stages of their investment journey by protecting savings, easing the transition into retirement, and reducing the impact of market volatility.

It invests across more than 40 global asset classes, covering both public and private markets.

M&G said it selected Scottish Widows as its first platform partner for its retirement expertise and shared focus on supporting people through changing market conditions.

The launch marks the start of a phased rollout of PruFund across additional third-party platforms, with availability on Scottish Widows’ personal pension and ISA wrappers.

“This announcement supports our growth strategy by making it easier for advisers to access PruFund via their platform of choice,” commented M&G Life CEO, Clive Bolton.

“Through our FNZ Q-Hub integration and launch with Scottish Widows, we are simplifying adviser onboarding and expanding access for clients who are retired or approaching retirement and want capital protection without stepping out of the market.

“Opening up PruFund in this way addresses a clear market need and supports our long term growth by widening access and scaling distribution across the adviser market, as part of a phased rollout of further platform partnerships.”

FNZ group head of UK, Andy Brodie, said the expansion on to Scottish Widows Platform, leveraging FNZ’s technology, would make it easier for advisers to access a long-standing multi-asset retirement solution for their clients.

Scottish Widows intermediary wealth director, Jenny Davidson, added: “PruFund is a much loved fund that advisers trust to help clients manage income through retirement.

“Through the Scottish Widows Platform, advisers can offer a broader range of retirement income solutions with a modern, intuitive experience, straight through processing and significantly reduced administration.

“By combining increased choice with platform efficiency, we’ll help advisers spend more time supporting clients and delivering good outcomes in retirement.”

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