Peter Craddock has left his role as group operations director at IFA consolidator Perspective while finance director Phil Carr has also departed.
Craddock remains in a consultancy role to help with the transition period to a new management team.
Perspective says the requirements of its directors have changed as the firm is no longer focused on making acquisitions.
Craddock joined the firm in 2011 from Skipton Building Society where he was director of financial services and chairman of Skipton’s IFA business.
His role at Perspective saw him take overall responsibility for the firm’s operations. He joined the Apfa board last March.
Carr previously worked in corporate finance at KPMG.
In August the firm postponed plans to float on AIM. It was originally seeking to raise £28m from the IPO.
Money Marketing understands the business was offered to private equity investors in 2012.
The most recent accounts show the firm made a pre-tax loss of £1.45m in 2012.
Perspective Executive Chairman Paul Hogarth says: “The company has grown to be one of the largest and most profitable financial advisory groups in the country.
”Since formation in 2008, the Group has completed over 30 acquisitions and has now reached the point where it is a mature financial services business. It is now entering a period of consolidation during which the principal focus will no longer be on making acquisitions and so the requirements for the executive director roles have changed.
“We are grateful to Phil and Peter for their hard work and leadership in building the Group to its current strong state, and the new management team looks forward to developing it further.”