Aviva has topped £1bn on assets under management on its retail platform. The firm's platform has experienced growth of 53 per cent since the beginning of 2012. It said it has done this by offering mainstream platform solutions and appealing to a mid-market consumer base. Aviva's intermediary director Andy Beswick said: "Our decision to focus on mid-market customers has come at exactly the right time, as we're finding an increasing demand for mainstream platforms solutions such as pensions, Isas and general investment accounts."
He said Aviva took a "conscious decision" to focus on the mid-market range after concerns from advisers. "We took a conscious decision to focus on this mid-market after listening to IFAs' concerns about how they can continue to offer affordable but profitable advice in a post-RDR world. In doing so we've been very clear about the types of clients our Aviva wrap is suitable for, and those it is not, and that's good for the customer and the adviser." "We know that advisers are looking for sustainable platform solutions that will help them keep costs down as they manage the transition from commission to adviser charging. The inherent functionality in a platform helps with this by offering bulk and individual switching, rebalancing and model portfolios."
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