Pinsent Masons has advised Royal London on the sale of its platform business, Ascentric, to M&G plc. Ascentric is a leading digital wrap and wealth management platform for advisers with assets under administration of £14 billion, around 1,500 adviser relationships and over 90,000 underlying customers. It has been part of Royal London since 2007.
The Pinsent Masons’ team acting on the transaction was led by Hannah Brader (Corporate Partner), Emma Dawe (Corporate Senior Associate) and Helen Siviter (Corporate Solicitor) and included Angus McFadyen and Praveeta Thayalan (TMT), Tobin Ashby and Matt Saward (Wealth), Alice Bell (Financial Regulation), Jon Fisher (Employment) and Jamie Robson and Rachel McConnell (Tax).
Commenting on the deal Hannah Brader said: “We are delighted to have worked with Royal London to successfully deliver this strategic disposal, conducted almost entirely during lockdown. This transaction reinforces our position as a leading firm in the wealth sector where we have advised on a number of the most significant recent transactions in the UK platform market, including advising Zurich on the sale of its UK Retail Wealth platform to Embark which completed in May.”