Skandia, part of Old Mutual Wealth, says it will restructure its sales team in an effort to enhance the support it provides to financial advisers. It will cut about 20 of the 100 jobs in the team.
Skandia has also made some key appointments, creating a new leadership team.  Skandia says the new 80 strong sales structure will deliver tailored and focused adviser support, aiming to help advisers grow their business as well as service existing Skandia customers.
Skandia has used feedback from focus groups with advisers and Paraplanners to shape and develop its sales structure.
Under the new structure, two new types of role will be created:
1. Wealth Management Consultant - who will work with advisers to identify opportunities to grow their business, bringing a high level of expertise in areas such as fund management, investment solutions, retirement planning and protection.
2. Development Consultant – who will provide advisers with continuing account support on a day-to-day basis, helping them make the most of the potential within their existing customer base.
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Steve Powell was recently confirmed as the new sales director for the UK, will report to Peter Mann, managing director for the UK. Reporting to Mr Powell will be a head of sales for the South; Nick Jones, and a head of sales for the North; Gary Stirrup. Mr Powell will also head a strategic sales team and a specialist sales team, with Nigel Jefferies being appointed to the role of head of strategic relationships.
Steve Powell, sales director, UK, said: "The new 80 strong sales team will be nimbler and more effective, with a strong leadership team.   Advisers will continue to receive dedicated, specialist support, and we are confident this new approach will provide unrivalled adviser support, something we will continue to be renowned for. "
Skandia UK is part of the wealth management business of Old Mutual plc, an international long-term savings group with £261 billion of funds under management.