Aviva's acquisition of robo-adviser Wealthify is set to change the landscape of the sector by triggering a wave of M&A activity, Ian McKenna has said.
The DigitalWealthInsights.com director (pictured) said Aviva's competitors were likely to reconsider whether they are at a commercial disadvantage to the world's twelfth largest insurer following the deal. On Thursday Aviva announced it had taken a majority stake in robo-investor Wealthify. The insurer said the move was part of its strategy to build customer loyalty by providing a wide range of insurance and investment services managed through its digital My Aviva hub. McKenna said competitors would be wondering if they had "missed a trick" and would not want to remain on the back f...
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