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Aviva apologises for sending false 10% drop messages to IFAs

In Aviva’s latest platform malfunction, advisers have been sent a false notification that their clients’ portfolios have dropped by more than 10%.

Aviva apologises for sending false 10% drop messages to IFAs

Aviva has apologised for its latest platform malfunction after advisers were sent a false notification that their clients’ portfolios have dropped by more than 10%.

The glitch is the latest in a string of errors and failings of the Aviva platform since it switched to FNZ technology in January.

In a message sent to advisers, Aviva acknowledged it had wrongly sent emails over the weekend to IFAs notifying them their client portfolios had dropped by more than 10%. It is now a requirement for customers with discretionary managed portfolios to be contacted if their portfolios drop by 10% under Mifid II regulations.

A spokesman for Aviva said the insurer is sorry for the messages and is looking into why they were sent.

‘Over the weekend some advisers received portfolio drop notifications in relation to their customers. These were sent in error and we are investigating the cause so we can prevent future occurrences. We have also removed the notifications from the platform,’ he said.

‘We will be contacting advisers and will provide any further updates on the Aviva platform whiteboard. We would like to sincerely apologise for any concern this has caused.’

Andy Briggs, Aviva’s UK chief executive, apologised in February to IFAs for the ‘inconvenience and frustration’ suffered as a result of the move to FNZ technology.

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