Axa Wealth has cut its sales team by 30 staff in a bid to restructure the business following the completion of several projects.
The job cuts make up approximately 10% of the company's sales force and comprise ten ront line and 20 support staff roles.
The roles have been cut because Axa has completed its work around the Retail Distribution Review (RDR) and successfully separated Axa Wealth from Friends Life, a job that has taken three years.
Finally, three years after its launch, the company's Elevate platform has reached maturity and now has 'straight-through processing' according to a spokesman, meaning less staff are required to manage it.
A spokesman said: "The job cuts are a result of a natural evolution, however, we are in a strong position post-RDR and plan to invest £15m in the business in this this year alone."
In addition to the cuts, Axa Wealth has taken on five new tax wrapper specialists.
Affected staff were informed of the job cuts earlier this week.
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