Aviva's wealth net flows fall in Q1 as workplace scheme income drops

In a trading statement today (15 May), Aviva said the lower inflows, which represented 5% of its opening assets under management, came as a result of asset outflows in its workplace scheme, which has suffered a 42% annual decline and hit £1.2bn in the previous quarter. Nevertheless, the outflows were offset by strong growth in its platform business, which posted almost £1.3bn in Q1 of this year, or 52% growth from the same period last year. Aviva said it expects its wealth division to record "strong growth momentum" and achieve £280m in operating profit by 2027. Elsewhere in the re...