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How the Aviva Platform is getting it right

The Aviva Platform has gone from strength to strength this year. We’ve worked hard to make it a sleek, responsive system that really helps adviser firms in their day-to-day business. 

And the industry is beginning to sit up and take notice. Over the last 12 months, the Aviva Platform has:

  • doubled assets under management
  • topped the Platforum Q3 2013 Market Monitor
  • been named the fastest growing platform by Platforum for three successive quarters
  • been shortlisted for three awards at the Aberdeen UK Platform Awards.

All of that is brilliant and it’s rewarding to get recognition for what we’ve been doing with the platform. But it’s the icing on the cake. What matters most is delivering a platform that really works for the people that use it.

Working effectively across your business

To be completely successful, I believe a platform has to work for more than one type of user.

An advisory firm needs a platform to work for principals, advisers and paraplanners. The challenge for platform providers is that these people want different things from the platform.

It’s a bit like when I want to buy a new car. I want great fuel economy, good safety features and a bit of welly in the engine. My wife wants heated seats, a big boot and a nice colour. The kids want decent legroom, a DVD player in the headrests and something that won’t embarrass them in front of their friends. Oh, and price is important too.

Swap the family car for a platform and you get a similar spread of needs. The principal wants business MI, client reporting and the bottom line on remuneration. The adviser wants all that plus investment tools, bulk functionality, and easy client management. The paraplanner wants a well-oiled quote and apply system, easy rebalancing and quick, reliable admin functions. To really work for an advisory firm, a platform has to deliver on all these fronts.

It’s important to take all platform users into account. Focusing on one type of user at the expense of others means the platform is less effective for the adviser’s business overall.

That’s not what I want for the Aviva Platform. I want it to work well for all concerned.

We’re talking to the people that matter

We’ve been talking to the people who regularly use the Aviva Platform and using their feedback to improve the platform. During 2013, in addition to regulatory changes, we’ve made numerous platform developments, including:

  • adding a capital gains report to make calculations easier
  • improving the quality and content of client reports
  • developing a more efficient quote and apply process
  • enhancing elements of the client and administration process, such as pre-populating forms.

Taken together, all of these changes save both time and money when you have a large number of clients to serve.

Your feedback forms the backbone of our continual improvement programme, so keep telling us what you think of the Aviva Platform.

Watch out for more improvements in 2014

The Aviva Platform is growing and improving all the time. We’re determined to keep the momentum going into next year. We’ve already got a number of enhancements lined up for the coming months.

The Aviva Platform has become a platform advisers can’t afford to dismiss. With its competitive, low-cost pricing, it clearly targets cost-conscious, mid-market clients with straightforward needs.

Such a clearly defined target audience lets us match the Aviva Platform to the needs of those clients. We’ve been able to streamline it, cutting out unnecessary, expensive extras that mid-market clients simply don’t need.  

This helps us keep costs low and offer real value for money. In turn, that gives advisers a chance to serve clients who may otherwise have been priced out of the advice market.

Find out more about the Aviva Platform

As I said earlier, respected, independent platform experts are beginning to talk about the Aviva Platform. This tells me we’re getting it right for platform users as well as clients.

As the head of platform proposition at Aviva, I’m proud of the way we’ve developed the platform for several users but still kept clients in mind.

Having said that, I think the best is yet to come from the Aviva Platform. So, if you’re interested in how we can help you serve your clients and build a better business, talk to your Aviva consultant or visit aviva.co.uk/adviser.

 

Phil Ralli
Head of platform proposition, Aviva 

Aviva Life Services UK Limited. Registered in England No 2403746. 2 Rougier Street, York, YO90 1UU. Authorised and regulated by the Financial Conduct Authority. Firm Reference Number 145452.

www.aviva.co.uk 

 

 

[Sponsored article by Aviva]

 

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Author: IFA Life Sponsored Post
Posted: Tuesday, October 22, 2013 | 6:15:57 AM


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Comments

22 October 2013 | 7:03:00 PM  Adeline Luther wrote:
Indeed the Aviva platform is growing from strength to strength. It is emerging as a must-have for a variety of finance professionals. It is user friendly and has not remained static but is continuously evolving to meet the needs of financial advisors. Way to go!

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