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Axa Wealth restructure puts 50 jobs at risk

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Axa Wealth is segmenting its IFA clients as part of a restructure at the company which puts 50 jobs at risk and will see the number of regional managers cut from nine to five.

The restructure will mean the creation of a new team responsible for handling Axa Wealth’s larger corporate accounts with networks and a separate relationship management division for existing users of Axa’s Elevate wrap with whom the company is looking to build relations.

Advisers will have a partnership manager to act as a single point of contact.

A third division will cater to advisers specialising in offshore business, while a fourth division will be responsible for new business development.

Axa Wealth managing director of marketing and distribution David Thompson (pictured) says: “While Axa Wealth has experienced unprecedented growth, it has resulted in us being unable, at times, to devote the specialist support that we feel we need to give to different adviser segments.

“Our focused approach will mean we can offer specialist support in the areas that advisers say they need it most, while targeting effort at identifying new firms with an investment and partnership philosophy similar to our own. The changes signify a significant shift in how we partner with our advisers.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. i see that denis ryan has already begun the restructuring of axa wealth.

    peter marks from the coop loved him so much that ryan was able to close the whole field sales division down, boosting marks unethical bonus.

    so all you happy financial advisers that might work in axa wealth, work your butts off, because there is a large potential redundancy package coming in 18-30 months time.

  2. If you’d like a copy of AXA Wealth ‘new IFA focus’ news release let me know. Happy to talk about what we are doing to avoid speculation.

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