Assets under management rose 15% to £170bn for Aviva’s wealth arm for the year ended 31 December 2023 despite a drop in net flows.

A third (34%) of advisers changed platforms in the last year following the Consumer Duty, mergers and technology updates, according to Defaqto’s newly-released annual Platform Service Review for 2024.

Aviva-owned wealth manager and Financial Planning group Succession Wealth has acquired Plymouth-based DFP Health & Wealth Management which has more than £165m in AUM.   

Succession Wealth has appointed Roger Marsden, managing director, retail UK savings and retirement at Aviva, to become its new CEO.