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IFP staff take redundancy ahead of office closure

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The majority of Institute of Financial Planning staff are being made redundant as a result of the merger with the Chartered Institute for Securities & Investment.

The IFP’s 13 staff have been in consultation since last month, after the merger was announced in August.

Staff were told they would have to move from the IFP’s Bristol base to the CISI’s office in London or lose their jobs.

Of the 13 staff, four will move across to the CISI, one of whom will do so on a consultancy basis.

The remaining staff will take redundancy, with the Bristol office closing at the end of next week when the merger completes.

The CISI will be recruiting to fill some of the positions, but refused to say which staff had moved across and which positions it would be recruiting for.

Earlier this month, IFP chief executive Nick Cann and interim chief executive Steve Gazzard stepped down from the organisation.

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