Aviva: Platform on track to achieve profitability by 2016

Aviva's platform has said it is on course to achieve profitability in 2016 and its target of £6bn in AUM by the end of the year, after assets doubled in the last 12 months.

The platform said it has reached a milestone as its AUM doubled to £4bn, and is attracting new assets "twice as fast" as a year ago. It announced reaching a £3bn milestone in February and said it anticipates achieving profitability by the start of 2016. Aviva now has 5,000 registered advice firms, which the provider's platforms chief executive, Tim Orton, puts down to its "straightforward proposition" and its focus on "helping advisers integrate their own back office systems". Aviva has plans to start its conversions to clean share classes in the coming weeks, but will shy away fro...