Skandia has cut 20 jobs as part of a restructure of its adviser sales team, dividing the division into two roles; wealth management consultants and development consultants.
Under the restructure, numbers in the sales team will reduce from 100 to 80. The Old Mutual-owned provider said wealth management consultants would focus on helping advisers grow their businesses while development consultants would provide ongoing support.
Steve Powell, sales director said: ‘The new 80-strong sales team will be nimbler and more effective, with a strong leadership team.
‘Advisers will continue to receive dedicated, specialist support, and we are confident this new approach will provide unrivalled adviser support, something we will continue to be renowned for.’
In October, Skandia announced Steve Powell as the new sales director for the UK, reporting into Peter Mann, managing director for the UK.
Nick Jones, head of sales for the South, will report into Powell, as will Gary Stirrup, head of sales for the North and Nigel Jeffries, head of strategic relationships.