Better Retirement Group has closed its London office, with director Billy Burrows leaving the firm to join non-advised annuity specialist Annuity Line.
Better Retirement Group will now operate from a single office in York. Four people were made redundant as a result of the office closure.
Burrows, whose firm William Burrows Annuities was incorporated with Better Retirement Group in 2010, becomes head of business development at Annuity Line.
Better Retirement Group managing director Tim Eadon says: “We decided to close the London office as part of a cost-cutting exercise.
“This is already having a positive impact on our turnover and profitability.”
Better Retirement Group chairman Stuart Bayliss says: “Billy has made an important contribution to BRG as the business has moved from an annuity adviser into a larger retirement income business and we wish him well for the future.”
Burrows says: “As someone who is passionate about ensuring clients get the best outcomes at retirement this is a great opportunity to help Annuity Line reach a wider audience.”
Burrows says Annuity Line is considering launching an advised proposition alongside its non-advised service.