Alexander Forbes Financial Services is set to make a "limited number" of support staff redundant following a downturn in the corporate pensions market.
The financial adviser said it was planning to "rationalise" a number of support functions and focus its resources on front line client servicing and sales following a detailed review of its business.
It said marketing director David Marlow would be leaving the company and there were no immediate plans to replace him.
And it added it had entered into a consultation with some employees in support roles which it anticipated would lead to a number of redundancies.
Alexander Forbes Financial Services chief executive Grant Stobart said: "Changing market conditions have meant that some of our clients have reduced the number of new entrants to their pension schemes and are deferring spending decisions.
"The fundamentals of our business remain strong, however we have responded to the new business environment by reviewing our capabilities to ensure that all our services are matched to our clients needs. By taking decisive action now we will ensure that our business is well positioned to capitalise as conditions improve."
He added: "We remain committed to growing our business and it is only with regret that we are now consulting about a limited number of redundancies in our support functions."
In a statement, Marlow added: "Market conditions have been challenging for many of our clients and it is right that Alexander Forbes Financial Services has responded by becoming leaner to match its services to client expectations.
"I have enjoyed my time with Alexander Forbes and contributing to the company's success. This is an entirely amicable parting of the ways and I wish the company continued success both now and in the future."Professional Pensions
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