'Distribution remains key': Advisers and experts react to Aviva's purchase of Succession Wealth

'Distribution remains key to providers'

Julia Bahr
clock • 5 min read

Aviva has acquired national IFA Succession Wealth for £385m in a huge deal for the life company as it targets growth and greater distribution in the market.

Aviva said the deal would accelerate its ability to offer high-quality financial advice to 6 million of its workplace and individual pension and savings customers. PA spoke to advisers and market experts about their views on the acquisition. Asked why life providers are returning to advice, Scott Gallacher says it is simply about securing distribution and retaining assets. In fact, he adds, in Aviva's own press release, the third key point they made was that the deal "enables Aviva to retain more of the c.£6 billion of pension and heritage assets that leave to be invested with competi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your Business

All the advice firm acquisitions that have taken place in 2024

All the advice firm acquisitions that have taken place in 2024

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 25 November 2024 • 3 min read
Margetts Wealth directors complete management buy-in

Margetts Wealth directors complete management buy-in

West Midlands IFA to remain independent and owner-managed

Jenna Brown
clock 21 November 2024 • 2 min read
Advisers concerned Budget impact on clients will be negative

Advisers concerned Budget impact on clients will be negative

Pensions and IHT expected to impact more than half of clients

Isabel Baxter
clock 20 November 2024 • 2 min read