Skandia sales director Dave Chessell has been made redundant as part of a review of the service that the firm gives to advisers.
Chessell has been at Skandia for 15 years. Chief development officer Peter Mann will take on his role.
The firm says the review is likely to see support for advisers increase but it could not rule out wider redundancies. The company has around 100 business consultants.
A spokesman says: “We are reviewing what we do and it is likely that we will build on the business consultants we have in the field by delivering alternative ways for advisers to work with us. We will not be getting rid of our regional support.
“At this stage, it is unknown whether there will be wider redundancies as part of this review. Chessel is an isolated case at the moment. When the review is completed, we will announce any changes.
“Although one person is leaving, the actual review is about Skandia expanding the support it provides to advisers. We are IFA-only and are well known for the support we provide advisers and we are not going to do anything to jeopardise that service.”