View more on these topics

Aviva: We will not push into wider advice market


Aviva has no plans to expand its ownership of advice firms beyond Sesame Bankhall Group following its decision to relaunch a face-to-face advice arm.

The insurer revealed plans to re-enter the restricted advice market last month through the launch of a face-to-face-at-retirement advice service, three years after it cut its 120-strong team of advisers.

Speaking after Aviva’s half-year results announcement today, UK and Ireland life chief executive Andy Briggs told Money Marketing the insurer does not have plans to buy IFA firms.

He says: “We already own Sesame Bankhall Group and what we have done there is move out of the appointed representative side of wealth advice so we have got two core components of Sesame Bankhall Group now and it is performing well.”

Aviva offers a directly authorised model through SBG and also a mortgage advice service. It inherited SBG through its 2015 acquisition of Friends Life.

Briggs reiterated that Aviva’s move back into advice was driven by its mass market customers not necessarily wanting to pay IFA fees.

He says: “Post-RDR what we are seeing is high-net worth customers are going to IFAs and paying a fee for the service.

“We have got a lot of mass market customers, some of them will go to IFAs and we will happily work through that way but, for those that do not want to pay the fees to IFAs we are creating an advice service and capability to meet those customer needs.”

Aviva reported a 13 per cent increase in pre-tax profit in the first half of the yar driven by growth in its UK life and fund management arms and cost savings from its merger with Friends Life.



The man from Aviva: What the return of advice arm means for the market

Three years after it culled its 120-strong team of advisers, Aviva is to restart its face-to-face advice service. Millions of Aviva’s pension customers will be directed to the field-based advice arm – which will be restricted to Aviva products – at the point of retirement. Advisers fear the move “muddies the waters” but trade and […]


Friends Life cost savings boost Aviva profits

Aviva has posted a 13 per cent increase in pre-tax profit for the first half of the year, driven by growth in its UK life and fund management arms and cost savings from its merger with Friends Life. Operating profits have gone from £1.17bn as at the end of June 2015 to £1.3bn. Aviva’s life […]


Aviva faces court claim over unpaid commission

An adviser has issued a County Court Summons against Aviva over commission from a Friends Life personal pension he claims is owed to him. Barrett Financial Solutions managing director Kim Barrett is taking the provider to the small claims court because he is owed £415 in commission. He is also claiming for time spent trying […]

Global equity market views

Will Kenney, Senior Fund Manager presents the latest video update from our Global Equity team. Will discusses the economic factors that are emerging and how these are impacting their outlook. Watch the video here. Past performance is not a guide to future performance. The value of investments and the income from them is not guaranteed […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm