Three sales manager at Sinfonia Asset Management, the investment business of Tenet group, have been put on notice of redundancy after the company decided to stop marketing its proposition externally.
Helen Turner, who took over from Andy Richards as Sinfonia's sales and business director in February, said the change came after an evaluation of Sinfonia's marketing activities. Sinfonia offers investors a range of risk-rated funds and recently partnered with F&C and 7IM to launch its Prime Investment Portfolio. It has about £80m in assets under management. She added: "Risk rated funds are now well understood in the market and it doesn't make sense as a business model to have three dedicated salespeople on the road all the time. "Now we will have one dedicated person on the road a...
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