Brewin Dolphin is closing its Stoke office in a move that will see most of the team move to the national wealth manager’s Manchester branch.
The Stoke office is set to close at the end of October, after which eight executives from the team will transfer to Manchester. The move will result in four support roles being made redundant, while one Stoke executive has also been put on six months’ gardening leave.
Brewin said all staff members had been offered the opportunity to apply for roles in Manchester and elsewhere in the group. The firm added the decision to consolidate the offices had been taken after a full review of all relevant client accounts. It said the Manchester office has a larger team of fully qualified investment managers and financial planners, and offers a broader range of services.
Richard Platt, Midlands North regional director for Brewin Dolphin, said: ‘While we recognise this is a sad day for Stoke, we are continually reviewing how we conduct business to ensure that our clients receive the best possible service. We are confident that all our clients will be very well served from our Manchester office, which does have better resources.
‘We will continue to see our clients locally in North Staffordshire and South Cheshire, where we all continue to live and we have every intention of continuing to grow our important and highly valued business in the area.’
The move follows a number of branch closures over the past year, with offices in Inverness, Hereford and Teesside all merged away in September and Swansea consolidated with Cardiff in July. Last year, the firm also combined Bradford with Leeds and Dumfries into Penrith.