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Aviva to ditch Bravura for FNZ on adviser platform

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Aviva is planning to replatform from Bravura to FNZ for its adviser proposition, Money Marketing understands.

The life company announced the launch of its D2C platform last month, which is powered by FNZ.

Aviva has also delayed an upgrade to Bravura’s new system Sonata, originally planned for the second half of last year.

Last year, Nucleus had to refund hundreds of customers after a series of trades went wrong in the months following the Sonata upgrade.

One industry consultant, who wishes to remain anonymous, says: “Having two different technology providers makes no sense as it means missing out on efficiency savings.

“The Sonata upgrade did not go very well at Nucleus and Aviva will be fully aware of that.”

A spokeswoman for Aviva says: “We have an existing contract with Citi and Bravura for the adviser platform and that continues. The consumer platform with FNZ is completely separate.”

The spokeswoman refused to say whether Aviva is committed to Bravura in the long-term, or when the Sonata upgrade is due to go ahead.

Bravura and FNZ declined to comment.

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Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. That headline is based on absolutely nothing? At best it is an observation by an anonymous external source who is simply saying running two is odd. Lazy and poor.

  2. FNZ insider intel has revealed that Cofunds have chosen to adopt FNZ as their platform provider and are in talks with Aviva following the recent sale announcement to bring their advised and D2C platforms together. The Cofunds institutional business is well on the way to being powered by FNZ which has sealed this deal.

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