The AWD brand is to be scrapped next year with the UK arm to operate under the Chase de Vere banner.
Swiss Life, the parent company of AWD across Europe, has announced the AWD brand will be dropped and replaced by the Swiss Life Select brand.
In the UK, AWD Chase de Vere will drop the AWD brand and be known as Chase de Vere from next April. As part of the changes, the UK arm will also be reporting directly to Swiss Life, rather through the AWD management structure.
The European-wide restructure will see between 300 and 400 jobs lost in Germany and Switzerland over the next three years but a spokesman says no job losses are expected in the UK.
AWD Chase de Vere chief executive Stephen Kavanagh says: “Swiss Life has re-affirmed its commitment to our business and is keen to help us grow and develop in the future
“It is pleasing that the Chase de Vere brand name will be retained. This brand is highly thought of by our clients, professional contacts and within the financial services industry.”
AWD plc and Chase de Vere Financial Solutions plc announced merger plans in 2005 to create one firm of around 300 advisers operating under the AWD Chase de Vere brand. The firm currently has 210 advisers.
Lucian Camp Consulting founder Lucian Camp says: “The AWD Chase de Vere hybrid brand has always been a fairly awkward name but obviously was left there to retain familiarity within the industry. I think it was inevitable that name would eventually be dropped and Chase de Vere is a brand that has some recognition within financial services.”