The sentiment in the adviser market is starting to change, according to Aviva UK Life CEO, Doug Brown.
The CEO's comments come after the company saw operating profit rise 14 per cent in the first half of 2024, published in its interim results on Wednesday (August 14).
Brown said there had been an improvement in the gross flows within the advice business in the first half of the year, driven by Succession Wealth, an IFA firm Aviva acquired in March 2022.
He said: “I think we’ve generated about 9,000 or so leads that have resulted in 3,500 referrals to customers so we’re seeing some good regeneration into the advice business which we’re very pleased with.
“We think there are further opportunities as we move forward. We’re very happy with where we are in terms of adviser numbers."
He said the firm is investing in technology used by Succession Wealth to make things easier for advisers.
“We think Succession Wealth is a very attractive wealth provider to be in,” he said.
“We’re investing in the leads, we’re continuing to invest in the technology and that business to make it easier for advisers to service customers.”
Brown added Aviva is encouraged by what it had seen in the first half of the year, adding: “Maybe the sentiment is starting to change in the market."
Platforms
Brown described Aviva’s platform business as having a “very strong” start to the year, with the company’s adviser platform up around 45 per cent in net inflows.
“If you look at the first quarter of the year, Aviva was number one in terms of net month inflows and we believe we’ve had a very strong Q2,” Brown said.
“That’s really good momentum in that business and I believe we are currently at £55bn in terms of AuM in terms of that business.
“We have also invested in the asset transition and we’re seeing some good engagement by advisers on that.”
tom.dunstan@ft.com
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