Aviva’s Wealth business saw a 31% increase year-on-year to net flows in the first three quarters of the year, with net inflows of £10.9bn.
The division also saw a strong 19% increase to its assets under management during the same period, ending September at £267bn (30 September 2025: £224bn), according to a trading update.
Aviva has the ambition to have assets under management in its wealth division of £500bn by 2032.
Amanda Blanc, group CEO at Aviva, said the growth has helped the provider solidify its position of what it claims to be the number one UK wealth provider.
She said: “In Wealth, we are the number one UK player and have grown assets under management by 19% to £267bn. Our strong momentum continues with flows up 31% to £10.9bn and we now have over six million wealth customers.
“We see significant opportunities for Aviva to expand further – across our workplace, adviser and direct businesses – giving us confidence that we will achieve at least £280m of operating profit in wealth by 2027 and greater than £500m by 2032.”
The provider’s protection division reported a 7% increase in individual annuity sales and an 11% increase in equity release sales. However, these were offset by lower bulk purchase annuity business levels, leaving retirement sales for the first nine months at £3.5bn (9M2025: £5.3bn).
The provider has traditionally only offered wealth management advice to clients with £300,000 or more in pension savings and investments.
Aviva said the technology will allow its Financial Planners to, “scale their financial advice offering” and help close the advice gap.
During the first quarter, the Prudential Regulation Authority (PRA) imposed a fine of £10,625,000 on Aviva-owned UK Insurance Limited due to its miscalculation of the firm's Solvency II balance sheet during 2022 and 2023. The miscalculation resulted in UK Insurance overstating its solvency to the PRA and to the market. The is the first time the Early Account Scheme has been used for the PRA.
UK Insurance is a subsidiary, and principal underwriter of Direct Line Group. Direct Line is now part of Aviva following its acquisition last year. The events all pre-date Aviva’s acquisition.