Aviva

Aviva has said it expects its acquisition of rival Friends Life to generate extra revenue of £600m over the next two years, including and cost savings for the company of £225m.

The cost of launching new fund ranges and boosting distribution left Aviva Investors with flat performance in 2014, as the firm said its wider turnaround is far from completion.

Aviva head of platform Tim Orton says a D2C self-service proposition is "still on the cards" for the firm but ongoing regulatory guidance is delaying advisers' potential use of the offering.

Holding on to ‘turbulent’ financials has paid off

Several of the UK's major asset managers are falling short on stewardship and responsible investment practice, according to NGO ShareAction.

Restricted adviser network Sesame would be broke and unable to trade without the continued financial support of its parent company Friends Life, Aviva has said in a note to shareholders ahead of its planned acquisition of the provider.

Aviva's £5.1bn acquisition of Friends Life could see as many as 1,500 jobs cut, the company has said.

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