AxaWealth cutting jobs in shake-up

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

Around 50 front-line sales roles are likely to be affected by the move. Axa says it is moving away from adviser support based on sales to a more tailored approach.

The restructure will mean the creation of a new team responsible for handling Axa Wealth’s bigger corporate accounts such as networks and a separate relationship management division for existing users of Axa’s Elevate wrap. 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 says: “Our focused approach will mean we can offer specialist support in the areas that advisers say they need it most.”

Evolve Financial Planning director Jason Witcombe says: “It makes sense to offer more dedicated specialist support for different types of advisers.”