Axa Wealth staff face job cuts after Phoenix acquisition

People in Basingstoke and Bristol affectecd

Jenna Towler
clock • 1 min read

Workers at Axa Wealth's Basingstoke and Bristol bases are facing possible job losses following the firm's acquisition by Phoenix Group last year.

Phoenix bought Axa Wealth's pensions and protection businesses through its subsidiary Pearl Life for £375m in May 2016. A Phoenix Group spokeswoman said: "We are currently in consultation with a small proportion of the former AXA Wealth staff based in Basingstoke and Bristol so cannot confirm the exact number of job losses.  "What we can say at this stage is that a large majority of the staff will be moving over to our outsource service partners which includes Diligenta to ensure we retain their experience and expertise." In September last year, Phoenix also bought closed-book prov...

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

SimplyBiz CEO warns of advice sector 'polarisation'

SimplyBiz CEO warns of advice sector 'polarisation'

Important to continue supporting smaller firms, Tom Hegarty tells PA

Isabel Baxter
clock 24 July 2025 • 5 min read
PFS invests £1m in future talent

PFS invests £1m in future talent

Key that financial planning tackles 'mistrust' and knowledge gaps

Sahar Nazir
clock 23 July 2025 • 2 min read
Women in Financial Advice Awards 2025: Shortlists revealed!

Women in Financial Advice Awards 2025: Shortlists revealed!

All the winners will be announced at a celebratory gala dinner on 12 November

Professional Adviser
clock 23 July 2025 • 9 min read