Skandia has cut its adviser sales team from 100 to 80 as part of a restructure.
The firm, which is part of Old Mutual Wealth, says the restructure will see the sales division divided into two new types of role; wealth management consultants and development consultants.
Skandia says the wealth management consultants will work with advisers to identify areas to grow the business. The team will focus on fund management, investment solutions, retirement planning and protection.
The development consultants will offer adviser ongoing account support on a day-to-day basis.
Steve Powell was recently confirmed as the new sales director for the UK, reporting into Peter Mann, managing director for the UK
Head of sales for the South; Nick Jones, and a head of sales for the North; Gary Stirrup will report to Powell, who will also head up a strategic sales team and a specialist sales team, with Nigel Jefferies being appointed to the role of Head of Strategic Relationships.
In October, Skandia UK announced that three senior sales managers were leaving the business; area sales manager for the South East Lee Keeper, area sales manager for the Midlands Nick Webb and area sales manager for the North Mike Steggles.
A spokesman for Skandia confirmed that a consultation process has begun for those who have lost their roles in the restructure.
Skandia UK sales director Steve Powell says: “The new 80 strong sales team will be nimbler and more effective, with a strong leadership team. Advisers will continue to receive dedicated, specialist support, and we are confident this new approach will provide unrivalled adviser support, something we will continue to be renowned for. “