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Temple axes 21 managers in restructure

National IFA RJ Temple is axing 21 managers.

Ten staff have already stepped down in moves towards transferring all managers on to full-time salaried contracts.

The firm previously employed 45 advisers as team managers on a part-time basis. It aims to have a new structure in place by the end of October.

Temple expects to cut the number of managers to 24 through natural wastage as more managers choose to stay in their IFA role. Some managers may not be offered management positions.

Marketing director Ian Millward says: “Although this change is popular and constitutes a pay rise for most people, working full-time as a manager does not suit everyone. During the process, we have lost about 10 people.

“Although this predates the appointment of John Johnson as national sales director in March, it was one of his most important tasks.”

Inter-Alliance corporate relations manager Charles Ansdell says: “RJ Temple do not have the economies of scale or business efficiency to operate in today&#39s business environment.”

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