Moneyfarm has developed a bespoke investment platform for M&G dubbed &me. ALongside the platform Moneyfarm also supplies product wrappers, asset management capabilities, back office operations and human client consultancy services.

Available as an app on both Android and iOS as well as a web application, the platform provides investors with access to a choice of 'classic' and 'targeted' portfolio. The classic portfolios are made up of a diversified mix of ETFs investing in equities and bonds across different regions such as US equities and UK corporate bonds. The targeted portfolios invest in a blend of active and passive funds and are aimed at a new generation of first-time investors.

The platform uses an algorithm to determine each customer's risk appetite, financial knowledge and financial situation when clients go through the onboarding process and a suitable portfolio is advised upon.

Daniel Giddings, head of business development UK, Moneyfarm, says: "What was most important for M&G plc was to have the human touch and we have provided dedicated &me consultants that clients are able to reach out to in a way that suits them, by phone, in-app, webchat or video calls, supporting them with their portfolio, the wider market or building their investment plan."

The roll out follows a share placement in Moneyfarm in January last year that was led by M&G and raised £44.1 million. M&G also took a stake in the firm.

“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,” says M&G Wealth managing director David Montgomery. "“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."

The minimum investment to use the &me app is £500. On top of this management fee there is also an investment fund fee.