Aviva is to transfer all £9bn of its adviser platform business to technology provider FNZ, claiming the change will improve client reporting and integration with back office systems.
The switch will bring its adviser platform in line with its consumer platform and Friends Life corporate platform, which also use FNZ.
It means the platform will end its relationship with technology provider Genpact, which has powered the platform and helped drive the platform’s growth.
Aviva already uses FNZ for platforms aimed at its direct-to-consumer (D2D) and corporate business, and the consolidation is designed to provide flexibility for advisers and customers.
Tim Orton, chief executive of Aviva adviser platform, said: “Work will complete in the first half of 2017 on this. We see ourselves as being one of the leading players in the platform market in future years and see technology as a great part of that.”
In September last year, Aviva stated it was looking to “expand the pie” with the launch of its D2C platform, building non-advised client’s assets to the point where they may need to pay for something over and above the purely transactional.
Aviva told Financial Adviser about the non-advised consumer platform back in June 2015, with a spokesperson stating it would be further developed over time, complementing existing adviser and corporate platforms.