Aviva appoints head of D2C platform

Aviva has appointed former Charles Schwab senior vice president Rodney Prezeau to head up its new direct-to-consumer platform.

Prezeau has taken up the role of consumer platform director at the life and pensions giant, which announced the launch of its platform last week.

The platform allows customers to manage their savings, investments and pensions in one place, including buying, selling and switching investments.

Aviva says there are currently several hundred customers using the platform, which it plans to promote through a formal launch in the second half of the year. It first announced plans to enter the consumer platform market in July 2014.

On top of fund management charges, direct customers are charged 0.40 per cent for the first £50,000 of assets, 0.35 per cent of assets for the next £200,000 of assets, 0.25 per cent for the next £250,000 of assets, with no charge on assets over £500,000.

Prezeau has been with US-based investment services provider Charles Schwab for 10 years, most recently as senior vice president for retail client experience.

He has previously worked for American Express, management consultancy McKinsey & Company and JP Morgan.

Platforum head of direct Jeremy Fawcett says: “Aviva is one of several providers looking at the D2C channel and there is no set model for how to do this.

“Hiring someone with US platform experience could give a competitive edge as they have moved to a lower margin environment ahead of the UK and they have more experience of delivering drawdown to a broader section of society.”