Net outflows rose 44% year-on-year to £1.3bn for Aberdeen’s Adviser business in the first half of 2026, due to elevated redemption activity.
The business reported a £0.7bn increase in gross outflows, partially offset by £0.3bn in higher gross inflows.
Aberdeen attributed the increase in gross inflows to improved services levels and repricing efforts.
Aberdeen Adviser provides Financial Planning solutions and technology for UK financial advisers.
Despite the rise in net outflows, assets under management and administration for Aberdeen’s Adviser arm rose 5% to £84.8bn, due to positive market movements.
Average client cash balances as a percentage of average assets (excluding bonds and the Wrap SIPP) remained stable at 2.6% (FY 2025: 2.6%).
Revenue increased by 1% to £103m, mainly attributable to higher platform charges which rose 1% to £73m over the half.
Adjusted operating expenses rose by 3% to £62m for the adviser business. Aberdeen attributed the rise to a third-party outsourcing discount ending couples with higher AUMA-related costs driven by favourable market performance.
Mr Denning has worked in the adviser sector for over 20 years and has held senior roles in client management, distribution and operations.
At M&G he was CEO of its Wealth Platform and prior to that role was COO at Aegon UK. He was also one of the founders of the Novia platform.
In December Aberdeen launched its new SIPP business. It expanded the investment options available within its new SIPP in March.
In the first half of 2026 the Aberdeen SIPP saw around 4,800 new customers.