UK wealth market forecast to grow by over 10% a year to reach £7.5trn of assets by 2035

The UK wealth market is projected to grow at a rate of more than 10 per cent per annum to reach £7.5trn of assets by 2035, with an associated profit pool of around £10bn, according to Aviva.

In its Wealth ‘in focus’ investor and analyst briefing, Aviva said it saw the UK wealth market as a major growth opportunity and central to its long-term strategy.

Aviva revealed that it was on track to meet its goal of £280m in operating profit in its Wealth business by 2027.

Furthermore, the firm said it expected to achieve an operating profit of more than £500m by 2032.

New technology, such as the use of artificial intelligence (AI), and new regulations, including the Pension Schemes Act 2026 and targeted support, were expected to create “exciting new opportunities” for growth in an evolving UK wealth market.

Aviva said it was uniquely positioned to capitalise on these developments due to its trusted brand, strong customer base, proprietary data, and lifetime customer wealth offering.

“Aviva has already made strong progress in Wealth,” the firm stated. “We have delivered a consistently strong performance, driven by our Workplace and Adviser Platform propositions where we have significant scale, with operating profit doubling since 2019, and we have an ambition to deliver greater than £500m of Wealth operating profit by 2032.

“In addition, Aviva has potential to deliver further organic growth beyond this, through expanding our Direct Wealth, Advice and Targeted Support propositions.”

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