Aviva had a torrid time with its platform in 2018 after it moved all of its advised business onto fresh technology but, writes Tom Ellis, the platform appears to be on the mend ...
Aviva was in the top three for advised platform flows in 2017 but 2018 served as a big reality check for the platform. Its net sales suffered, dropping 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 the new platform it transferred all advised clients to last January. The firm itself blamed re-platforming for its misfortunes, saying operating profit in its long-term savings business was "offset by lower net fund flows into the adviser platform" because its migration caused disruption for both IFAs and customers. A...
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
