Aviva's net platform flows were revealed to be 38% down year-on-year in the group's annual results this morning. Yet, after a slow 2018 in the platform market, are the group's troubles as bad as they first seem?
Aviva's platform net sales dropped from £6.2bn in 2017 to just £3.8bn in 2018 - a year in which it struggled to get to grips with a multitude of issues on its new platform it transferred all advised clients to and launched last January. The firm itself blamed re-platforming for the drop, saying operating profit in its long-term savings business was "offset by lower net fund flows into the adviser platform, as migration to a new IT service provider caused disruption for both IFAs and customers". Aviva was in the top three for advised platform flows in 2017 but 2018 seems to have been a...
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