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Aviva to launch new integrated £56bn platform

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Aviva is integrating its wrap and adviser web portal into a single platform that will include annuities and protection products.

The new Aviva Platform, which launches this year, will have £56bn of assets and 2.75 million customers and the firm says it will be the biggest player in the platform market.

The Aviva Wrap currently has only around £1bn of assets. Aviva says the integrated platform will hold 600,000 annuities and 345,000 protection policies.

It has redesigned its investment proposition to underpin the platform, which will offer a self-service proposition for IFAs and one managed by Aviva.

Aviva UK life and pensions chief executive Toby Strauss says the move allows the firm to focus on the mid-market IFA, an area which he says wrap providers have largely ignored. He says: “The concept of a single view in terms of what you have and what you add as well as the seamless journey from an IPP to a Sipp, with the investment range und­erpinning it, is a big, unique
step forward.”

CWC Research senior partner Clive Waller says: “It seems sensible to have everything in one place and a platform should allow someone to see every aspect of their clients’ resources.”

The Platforum managing director Holly Mackay says: “It is an inevitable move and other life companies are doing or will do the same thing.”

For a full interview with Toby Stauss see this week’s Money Marketing.

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Readers' comments (5)

  • a triumph of hope over experience......

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  • "A camel is a horse designed by an AVIVA"

    One reason AVIVA is pro RDR is because they need tied distribution to sell products the independents won't.

    How many IFA's reading this find reasons not to do business with AVIVA?

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  • @NUMMC I think you're being too kind - a camel is quite a sensible animal - I think the duck-billed platypus was a swan designed by Aviva

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  • According to AVIVA if it walks like a duck and quacks like a duck then it must be a camel rather than a duck, even if its platypus is billed!

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  • Aviva is the only financial services company that I refuse to do business with - iy couldn't manage a **** up in a brewery let alone a decent wrap platform.

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