Aviva’s wealth division has reported a 9% year-on-year drop in its net flows due to the “impact of the challenging market volatility”.
Its third quarter trading update released today (16 November) showed net flows reached £6.4bn in the nine months to the end of September, a 9% drop compared with the same period last year. The inflows account for 6% of opening assets under management. Platform net flows were 49% lower as "market volatility and cost of living pressures continued to impact lower investment activity". Data from both Fundscape and The Lang Cat, also released today, showed the wider platform market was suffering. "Looking at pure adviser platform propositions, the numbers are just stark," Fundscape stated....
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
