Net flows in Aviva’s wealth division fell by 15 per cent year-on-year, from £2.7bn in Q1 2024 to £2.3bn in the first quarter of 2025, its Q1 2025 Trading Update has shown.

The reduction in net flows was driven by the outflow of assets from a large workplace scheme that decided to switch to another provider in 2023.

This more than offset the growth seen in Aviva’s platform business, which experienced an increase in net flows of 52 per cent year-on-year to £1.3bn.

Aviva’s wealth division’s £2.3bn of net flows at the end of March represented 5 per cent of opening assets under management (AUM).

As at the end of April, net flows were £4bn, representing 6 per cent of opening AUM, due to the onboarding of a large workplace scheme.

In its wealth division, Aviva said it expected strong growth momentum to continue towards its ambition of £280m in operating profit by 2027.

“Aviva has got off to a great start in 2025,” Aviva group chief executive officer, Amanda Blanc, said.

“We continue to trade strongly, serving our customers well, growing profitably right across the group, and demonstrating the resilience of our diversified business in a period of market volatility.

“In our wealth business, we secured £2.3bn of net flows which is an encouraging 5 per cent of opening AUM, and we increased net flows by 52 per cent in our platform business.

“We continue to be very positive about the outlook for 2025. Our balance sheet is strong, we have a clear customer-focused strategy which we continue to deliver at pace and our market-leading businesses are growing well, especially in capital-light areas.

“We are increasingly confident about Aviva’s prospects and meeting our financial targets.”

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