AWD Chase de Vere has announced a major shake-up of its senior management team, with marketing director Martyn Laverick and group finance and operations director Robert Organ departing the IFA with immediate effect.
Meanwhile, Andy Papadopolous, Phil Andrews, Peter Russell, Param Basi and Daniel Baade have been promoted from within the company to the board.
The changes have come after a review of senior management although details are still being worked out on how responsibilities will be divided.
Stephen Kavanagh, AWD chief executive, says: "This restructure is the next stage of our development that has already seen AWD Chase de Vere become re-established as a successful and profitable IFA business.
"I am delighted to welcome Andy, Phil, Peter, Param and Daniel to [the board]. I have worked with all of them for several years and believe they will provide invaluable contributions to help us achieve our aim of becoming the leading firm of IFAs in the UK.
"I would also like to place on record my sincere thanks and appreciation for the contributions that both Martyn and Rob have made to our company and to wish them every success for the future."
AWD spokesman Patrick Connolly said the management review represents the final step in a two-pronged process assessing the structure of the business, which had been loss-making and the subject of a £1.12m FSA fine for pensions mis-selling in December 2008.
Last year, the company sold mortgage consultancy Home Finance, adviser firm Read and online price comparison service AWD Moneyextra.
It went from a group with five businesses, 1,000 employees and almost 300 advisers to one with two businesses, 420 employees and fewer than 180 advisers.
"Over the course of 2008/9 AWD went through restructuring from a company losing money to a company making money," Connolly says.
"There was more of a focus on becoming profitable and this review was the next thing on the agenda."
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