Standard Life is cutting new business processing at 19 of its 25 UK customer service locations and c...
Standard Life is cutting new business processing at 19 of its 25 UK customer service locations and centralising the back office work into six regions.
Of the 25 locations, those in Bristol, Brentwood, Leeds, Manchester, Glasgow and Edinburgh will continue to process product applications from IFAs, while the function will be removed from the other 19 areas. Intermediaries will still have an adviser consultant available to them at all 25 locations, according to Standard Life.
The decision was announced in the group's interim results for the six months to 15 May, released this month. The report said the move is part of a restructuring of new business support at the group and up to 200 redundancies are expected. Standard Life predicts the rationalisation will save the group £11m per year.
Feilim Mackle, managing director of sales at Standard Life, said: 'The six dedicated processing centres will have an improved capability. Every location will maintain an IFA presence and a physical sales capability. As a result of this move, we will invest in new technology, give better support and look to improve the service.'
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