Aviva has acquired national IFA Succession Wealth for £385m as it targets growth in the UK financial advice market.
It said the deal would accelerate its ability to offer high-quality financial advice to six million of its workplace and individual pension and savings customers. The insurer's full-year results revealed: "Succession Wealth will be acquired for a consideration of £385m and its 2022 EBITDA is expected to be £24m." Aviva said it expected "double-digit" returns on its investment over the medium term through accelerated growth. It added the deal would "significantly" enhance Aviva's presence in the fast-growing UK wealth market as more people seek advice for their retirement options. ...
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