Article date: 26 February 2014
- More than 200% growth in funds under management (FUM) on platform since 2012
- 2,300 clean shares on platform
- Mid-market offering gives advisers cost effective and straightforward solutions
Aviva’s platform has exceeded £3 billion FUM and doubled adviser numbers as it continues to build momentum with its mid-market offering.
Designed to support efficiencies in advisers’ business models and offer simple, low cost investment products for clients, the Aviva platform has seen more than 200% growth in FUM since 2012. It has achieved this by offering mainstream wrappers and simple investment choices to meet clients’ straightforward financial needs.
Aviva’s Intermediary Director, Andy Beswick said: “Our decision to focus on mid-market clients has continued to attract an increasing number of advisers to the Aviva Platform who are looking to offer great value, straightforward products and wide range of investment solutions.
“Advisers appreciate our platform’s simplicity and effectiveness in helping them to reduce costs in their business. We made a number of improvements to the platform during 2013 which demonstrates just how serious we are about delivering a platform with features and tools that are important to them.”
Passing the £3 billion milestone is the latest achievement in what’s been a busy time for the Aviva Platform:
- Integration with the Aviva for Advisers website in April 2013 – saw Aviva offering advisers a one-stop shop to manage and write business for platform or packaged products.
- A full suite of clean share class funds added in preparation for the bulk fund conversions planned for 2014.
- Introduction of a new pricing tier on the platform for clients with portfolios of more than £400,000
- Winners of the Adviser Choice award for Platform Pricing (Nov’13), and shortlisted in three categories, including Best Platform, at the Aberdeen Platform Awards 2013.
In addition to growth of FUM, the Aviva Platform has more than 2,300 clean share class funds available for advisers. Throughout 2014, Aviva will bulk convert clients in funds where there is no detrimental difference in fund charging, and will remove rebate paying funds that have been converted. This will make investment products easier for clients to understand.
Phil Ralli, Head of platform proposition at Aviva said, “We’re keen to be ‘clean’ as soon as possible and are eagerly awaiting the final guidance from the FCA on their expectations as to how the fund conversions should be completed. Jumping the gun on fund conversions could result in significant re-work for some platforms.
“We’re fortunate to have the resources to complete all this development work on top of all the platform regulatory change required. Advisers seem to like our track record of meeting regulatory changes without disrupting their business, and this is certainly our aim with our clean share class fund approach too.”
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Notes to editors:
Aviva provides insurance, savings and investment products to 34 million customers worldwide.
We are the UK’s largest insurer with over 14 million customers and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
We are ranked as one of the UK’s top ten most valuable brands and Aviva Plc is in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index. In 2012 we
invested £5.7m into our UK communities. One in three of our employees were involved in community investment activities which included giving nearly 30,000 hours.
Aviva is working in partnership with Railway Children through the Aviva Street to School programme to get children living or working on UK streets back into everyday life, especially education. Find out more at www.aviva.co.uk/street-to-school/
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