Axa Wealth is cutting 30 jobs from its sales and support teams following the completion of its RDR programme and the separation and transfer of its life business to Friends Life.
The company is cutting 20 roles from its sales support team, and 10 frontline sales roles. Affected staff were informed of the move earlier this week, which will see the Axa sales and support teams reduce from around 250 to 220.
Axa is also hiring five tax wrapper specialists which will provide off-platform adviser support.
A spokesman for Axa says: “As our business develops, 10 frontline sales roles and a further 20 sales support roles will be lost, as we focus on the opportunities of the post RDR world. This still leaves Axa Wealth with one of the largest sales teams in the market.
“We are continuing to invest in the company and its capabilities, and expect this will result in the creation of new roles over the course of the next two years as part of our plans to transform our marketing, technologies and customer experience focus.”
Axa says it will look to reduce the number of job cuts where possible through redeployment and not replacing staff when they leave.