Aviva switches to FNZ for adviser platform

Aviva is switching its adviser platform to FNZ from the Bravura-backed Genpac offering.

The announcement confirms plans first revealed by Money Marketing in July last year.

Aviva expects to complete the transition in the first half of 2017, and say it will be communicating with advisers to minimise disruption.

It brings the provider's advisers on to the same platform as its direct customers, and will function as a consolidation following the firm's acquisition of Friends Life last year.

While Friends Life already had an existing contract with FNZ, Aviva was utilising both FNZ and Genpac, following the US technology firm's acquisition of OpenWealth last year.

Speaking to Money Marketing, Aviva advised platform chief executive Tim Orton says: “We've got the majority of our business on FNZ already and it was the optimal choice to use that architecture going forward.

“We review our technology commitments over time, and this was a sensible point to make a change.”

Orton adds the change is expected to cost Aviva a total “in the low tens of millions”.

The software front-end used by advisers is not expected to change.

Orton says: “This will enable us to provide more flexibility for advisers and their clients.

“We will be simplifying the experience around some of our journeys and also expanding out our investment choices.”