Axa Wealth restructure puts 50 jobs on line

Axa Wealth has announced a restructure of its sales and support team in a move which puts 50 jobs at risk.

The company said it is transforming its distribution and adviser support divisions from a sales approach associated with the workings of a traditional life company towards a consultancy model ahead of the retail distribution review (RDR).

An Axa spokesperson said around 50 sales jobs are at risk, including a reduction in the number of regional sales managers from nine to five. Staff will be consulted later today.

Axa Wealth said the restructure has been implemented to evolve the business in line with the "unprecedented levels of change" the industry has seen over recent years and tailor its approach to support different adviser segments including restricted and whole of market.

It said the restructure is focused on developing its range of specialist adviser support consultants as its looks to hit a growth target of £45bn by 2015. The consultants will provide support and a single point of contact for advisers.

Meanwhile, the firm said the restructure will not see any reduction in the number of Elevate development directors and also revealed it is recruiting for an additional two roles within its Architas multi-manager team.

"While AXA Wealth has experienced unprecedented growth, it has resulted in us being unable, at times, to devote the specialist support that we feel we need to give to different adviser segments," said Axa Wealth managing director, marketing and distribution, David Thompson (pictured).

He added: "The changes signify a significant shift in how we partner with our advisers, which I believe will help ensure AXA Wealth and its customers maximise the opportunities brought about by RDR and the new market environment."