Aviva's wealth arm posts 9% drop in net flows due to '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....