Ascentric is a name well-known to financial advisers and sophisticated investors. In 2020, Ascentric was acquired by M&G plc and has since been integrated into the M&G Wealth Platform. This move combined Ascentric’s flexible platform technology with the massive financial backing and investment expertise of M&G.
In 2026, the M&G Wealth Platform (formerly Ascentric) remains a "premium" choice for those who want a consolidated view of their entire financial life - pensions, ISAs, and general investments - all in one place.
Get in touch below for a free, no-obligation chat with a financial adviser who can provide independent guidance about whether Ascentric is the right pension platform for you.
Get 100% independent pensions advice today
Our independent financial advisers have a deep working relationship with pension providers across the UK, including Ascentric.
Whether you want to transfer your pension to Ascentric or have an existing pension with then that you want to get the most out of, we can help.
The IFA's we work with can provide independent advice about pension transfers, reviews, drawdown, annuities and much more. Book your free initial consultation with them below:
Who is Ascentric / M&G Wealth?
Ascentric was one of the first "independent" platforms in the UK, built to give advisers and their clients more control over their investments. Following the M&G acquisition, the platform has seen significant investment in its digital interface and "Retirement Hub." It is specifically designed to handle the complex needs of retirees, particularly those using flexi-access drawdown.
Ascentric Pension Products
The core product is the M&G Wealth Platform Pension (SIPP).
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Extensive Investment Choice: You have access to over 6,800 funds from 300+ asset managers. This includes everything from low-cost passive trackers to specialised discretionary fund management (DFM) services.
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The "Wrapper" Advantage: The platform is designed to hold multiple accounts (wrappers) under one "Client Portfolio." This allows you to manage your Pension, ISA, and General Investment Account (GIA) as a single strategy.
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Stockbroking Service: Unlike many basic providers, Ascentric has its own in-house dealing desk, allowing for real-time trading of shares, ETFs, and Investment Trusts.
Putting an Ascentric Pension into Drawdown
The M&G Wealth Platform is built with "decumulation" (taking your money out) in mind. Their Retirement Hub is a central feature for those in drawdown.
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Flexi-Access Drawdown: You can take your 25% tax-free cash and set up a highly customizable income stream. You can choose specific dates for your payments and vary the amounts whenever your circumstances change.
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Investment Pathways: Following FCA regulations, Ascentric provides four "investment pathways" for those who don't want to build a portfolio from scratch but need a fund that matches their 5-year goal (e.g., "I want my money to provide an income").
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Sustainability: In 2026, there is a strong focus on ensuring drawdown portfolios are resilient against inflation, with many funds now incorporating private market assets to diversify away from traditional stocks and bonds.
Alternatives to Drawdown
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Annuities: While Ascentric is a platform, they can facilitate the transfer of your funds to an annuity provider if you decide you want a guaranteed income for life.
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Uncrystallised Funds Pension Lump Sum (UFPLS): For those who don't want a regular income but want to take occasional "chunks" of cash, with 25% of each chunk being tax-free.
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Phased Retirement: A sophisticated strategy where you move small portions of your pension into drawdown over several years to maximise your tax allowances.
Reviewing an Existing Ascentric Pension
If you have an older Ascentric account, a professional review is particularly important given the platform's recent evolution under M&G.
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Technology Migration: Many older accounts are being migrated to a newer version of the platform. A review ensures your login details, beneficiaries, and investment choices have transferred correctly.
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Fee Optimisation: M&G Wealth uses a tiered charging structure (e.g., 0.30% for the first £1m). If your pot has grown, you may be eligible for a lower percentage rate.
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Portfolio "Health Check": Because Ascentric offers so much choice, it is easy for a portfolio to become cluttered with old funds that are no longer performing. A review helps "prune" these investments to keep your strategy on track.
Transferring To and From the Provider
Transferring INTO Ascentric (M&G Wealth)
The platform is designed for consolidation. They accept almost all types of registered pension transfers, including those from other SIPPs, personal pensions, and workplace schemes.
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In-Specie Transfers: If you already hold specific funds or shares with another provider (like Hargreaves Lansdown or AJ Bell), Ascentric can often move the actual assets over without you having to sell them and move as cash.
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Timing: Electronic transfers through the Origo network typically take 10 to 20 working days.
Transferring OUT of Ascentric
You are never "locked in" to the platform.
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The Process: You simply give your new provider your Ascentric/M&G account number.
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Important Note: From January 2026, M&G Wealth has updated its policy on cash interest. Always check the current interest rates and any final administration charges before initiating a full closure of your account.
Pros, Cons, and Customer Reviews
The Pros
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"All-in-One" View: Exceptional at showing your Pension, ISA, and GIA on a single screen.
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Strong Backing: The financial security of M&G plc (a FTSE 100 company).
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Technical Flexibility: Great for complex strategies like "tailored drawdown" or holding niche investment trusts.
The Cons
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Designed for Advice: The platform is quite technical and is generally best used alongside a Financial Adviser.
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Minimum Charges: There is often a minimum monthly charge (around £15), which makes it less suitable for very small pension pots.
What Customers are Saying (2025-2026)
"The new Retirement Hub is a game-changer for tracking my drawdown. I can see exactly how much tax I'm paying on each withdrawal." — Client Review, Feb 2026
"A great platform for choice, but the transition from the old Ascentric brand to M&G Wealth felt a bit corporate and took some time to get used to the new portal." — Adviser Review, Dec 2025
How Our IFA Service Can Help
At Money Helpdesk, we connect you with Independent Financial Advisers (IFAs) who are experts in the M&G Wealth Platform. Because Ascentric is a "facilitator" (they provide the technology but not the advice), having an IFA is the key to making the platform work for you.
Our IFA service helps you with:
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Platform Comparison: Is M&G Wealth the best home for your money, or would a provider like Aviva or Alliance Trust save you more in fees?
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Cash Management: Advising on the best way to hold cash within the platform to benefit from current 2026 interest rates.
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Beneficiary Planning: Ensuring your "Expression of Wish" is up to date—vital as pension inheritance rules change.
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Complex Drawdown: Calculating exactly how much you can safely withdraw without running out of money in later life.
Get in touch today for an independent review of whether Ascentric is the right pension provider for you, whether you’re one of their existing customers or considering moving your pension pot over to them.