Skandia Investment Solutions is slashing 150 jobs as part of a cost-cutting programme, but the platform has stressed the move will have minimal impact on adviser services.
The job losses are part of a transition plan designed to reduce operating costs 20% by year-end in order for the platform to remain profitable in a lower-margin environment.
The platform has drawn up a "50 basis point" business plan in which costs will be contained and profits made within 50bps of funds under management.
Skandia spokesman Charlie Musson says there is no definite time-line for the redundancies but the majority will take place over the next 10 months.
He stressed the move is wholly unrelated to the redundanices announced last year in its sales team which impacted 100 jobs.
"The affected roles will be within the head office that supports the front line - the guys who work with advisers will not be impacted," he says.
Support roles to be shed cover areas such as finance, IT and marketing but Skandia guarantees the number will not exceed 150.
Musson said the company will try to find new roles for the people affected should they have the necessary skills.
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