Aviva and Citi have signed a 10 year deal for the administration of Aviva’s retail wrap platform. The agreement, said a statement, signals Aviva’s “continued focus on providing advisers with a platform to meet the long-term investment needs of their clients, particularly those in the mid-market.”
Citi will continue to provide administration support to Aviva’s wrap platform through its OpenWealth service by way of account record keeping, investment trading transaction management and reporting in tax efficient structures.
Aviva’s intermediary director, Andy Beswick, said: “This ten year contract with Citi gives a clear indication that we are in the platform market to stay.”
“Aviva’s platform offering is designed to help advisers manage their clients’ portfolios efficiently, compliantly and profitably. Tools like model portfolios, individual and bulk switching and rebalancing - all help advisers control the cost of serving their clients.”
“Our investment range is designed to meet the needs of a broad range of clients. A choice of over 2000 funds, including a range of insured funds, will appeal to cost conscious clients with straightforward financial planning needs."
“For those with the appetite for a more diversified portfolio, we support structured products, exchange traded funds (ETFs) and equities, as well as commercial property investment via our SIPP. We’re continuously looking to improve our platform and our agreement with Citi means we have a long-term partner with whom we can grow this part of our business.”
