Personal Touch to cut 22 jobs in £1.5m savings drive

clock

Personal Touch Financial Services has announced 22 job losses and restructured its board of directors to achieve a 25% cost saving in an attempt to "realign the business" and cut £1.5m in costs.

In a whole-of-company staff briefing, the at-risk employees were told which 22 jobs will go from 180 and those affected will be offered the afternoon off, although it will be business as usual from tomorrow, said a spokesperson. The at-risk staff will be reassessed for re-deployment later this week, confirmed PTFS. Max Wright, chief executive, Personal Touch Financial Services, said: "Following the launch of our Vision 2013 strategy in July this year we are now implementing the strategic realignment of the business which is designed to achieve a cost saving of £1.5m. "Staff have this ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The capacity trap: Why advice firms can't hire their way out of the admin crisis

The capacity trap: Why advice firms can't hire their way out of the admin crisis

'You cannot outrun a broken process by adding more people to it'

Stuart Breyer
clock 10 March 2026 • 3 min read
The enduring value of advice in an era of DIY investing

The enduring value of advice in an era of DIY investing

'The debate is about execution and consistency'

Chris Ball
clock 10 March 2026 • 4 min read
Aberdeen's Kenny on 'hugely worrying' financial literacy gender gap

Aberdeen's Kenny on 'hugely worrying' financial literacy gender gap

Recent research findings

Jen Frost
clock 09 March 2026 • 3 min read