Legal & General has scrapped its face-to-face broker support team making all eight roles redundant, Money Marketing can reveal.
The insurer says advisers’ changing preferences means there is no longer a need to have a roving field-based team. All adviser support will be handled by an existing team in Hove that responds to enquires over the telephone and online.
Three of the face-to-face team have been given other roles within the company, though L&G says this could rise.
The team will be disbanded at the end of December.
A L&G spokesman says: “Increasingly IFAs prefer to deal with us over the phone and online. In view of the change in adviser behaviour, it made it sensible to move that support to our Hove office.”
The redundancies follow a major restructuring programme at the insurer. In October 2013, L&G confirmed 600 jobs were at risk as a result of a merger of its savings and protection businesses.
Further details of the restructure were revealed in November, with group protection moving from the corporate to the insurance division, the corporate defined contribution pensions platform shifting to be part of L&G Investment Management and the savings business splitting into “mature” and “digital” divisions.
The mature division – comprising insured savings and with-profits – will be headed by Jackie Noakes, who was previously L&G Assurance Society chief operating officer and group IT director.
Retail savings managing director Mike Bury will take responsibility for digital.