Net flows rose 6% for Aviva’s wealth division to £10.9bn in 2025, according to the firm’s annual results.
Aviva’s platform business reported a 7% increase in net flows to £4.6bn (2024: £4.3bn), with assets under management rising 19% over the year to hit £70bn as at 31 December (31 December 2024: £59bn).
Adviser platform customers increased by 11% to over 440,000, with direct customers increasing 31% to nearly 106,000.
The workplace business net flows increased by 6% to £7.1bn (2024: £6.7bn), driven by a strong growth in regular member contributions which have now reached £1bn per month. An additional 544 new schemes also contributed significantly to the inflows (2024: 477 new schemes).
The combined wealth division reported a 36% rise in operating profit to £175m, with the division passing £234bn in assets as at 31 December (rise of 18%).
Parent company Aviva plc saw a strong 25% increase in operating profit to £2.2bn (2024: £1.8bn), hitting its £2bn 2026 profit target one year early.
Amanda Blanc, group CEO of Aviva, said: “We have transformed Aviva over the last five years and whilst we have made significant progress, there is so much more to come.”
She also highlighted the potential for long-term growth in the “capital-light” wealth market.
However, there were some areas of the business which performed less well.
Aviva’s retirement division reported a 30% drop in sales to £6.6bn for 2025 (2024: £7.8bn). However the firm said this reflected a more typical year, with 2024 boosted by unusual Bulk Purchase Annuity volumes. Individual annuity sales were up 19% and equity release sales were up 32%.
Protection sales also fell and were 8% lower. However Aviva said this was as expected, due to the consolidation of propositions in the second half of 2024 following the acquisition from AIG.
Aviva Investors drove £3.5bn of assets to Aviva’s annuities business and around 65% of Workplace net flows went into Aviva Investors funds. External net flows for the division increased to £0.9bn (2024: £0.2bn). The Aviva Investors division assets under management increased by £24.3bn in 2025, taking total assets to £262bn.