Standard Life will cut jobs in its distribution department as part of a strategic review of its business.
Almost 200 roles in distribution will be lost, though Standard Life says the changes will not impact on service levels.
The firm wants to transform itself into a global asset managing business, and says changes in adviser business models and customer habits mean it must adapt for the future.
A Standard Life spokesperson says: "Standard Life is going through a process of transformation to become a global asset managing company.
"As part of this, the company has reviewed the structure of its distribution function to ensure it is in the best position to support this strategy and deliver against financial targets."
The firm says its new strategy will create a 'world class' distribution service operating at maximum efficiency to provide a high standard of service for advisers and customers.
Contact: John Bakie, Tel: 020 7484 9805, e-mail: [email protected]IFAonline
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