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.”