Aviva’s wealth division demonstrates resilience with significant net inflows despite facing overall group outflows.
- The nine months ending September 2024 saw Aviva’s wealth arm increase net inflows by 21%, despite overall outflows.
- Aviva’s assets under management rose, driven by strong performance across adviser platforms and direct wealth channels.
- The company’s wealth segment aims for substantial profitability, targeting £280m in operating profit by 2027.
- Increased net inflows contribute to robust asset management in the wealth division, with a total of £192bn assets under management.
Aviva’s wealth division has shown remarkable growth by recording a 21% rise in net inflows, reaching £7.7bn for the nine months ending 30 September 2024. This achievement is noteworthy given that the overall group experienced outflows exceeding £1.7bn during the same period.
The resilience of Aviva’s wealth division is highlighted by the increase in assets under management (AUM), which now totals £192bn. This growth is attributed to the strong performance seen across its adviser platform, advice business Succession Wealth, and direct wealth channels, making the division a cornerstone of the company’s strategy.
Despite the overall net outflows, which marked a 17% improvement from the previous year when outflows were at £2bn, Aviva remains focused on its growth ambitions. The wealth division has set an ambitious target to achieve £280m in operating profit by 2027, underscoring its commitment to long-term profitability.
This performance not only reflects Aviva’s ability to adapt and thrive amidst challenging financial landscapes but also highlights the strategic importance of its wealth division. The company’s approach combines adept management with a clear vision for sustainability and growth, positioning it favourably within the financial sector.
Aviva’s wealth division is on a promising trajectory, demonstrating significant growth and strategic foresight amid sector challenges.
