Skandia slashes sales team by 20

Skandia, part of Old Mutual Wealth, has cut its UK sales force from 100 to 80 as part of its restructure to enhance the support it provides to financial advisers.

The new 80-strong sales team 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. Wealth management consultants 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.

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Development consultants will provide advisers with ongoing account support on a day-to-day basis, helping them make the most of the potential within their existing customer base.

Skandia has also made some recent key appointments, with Steve Powell recently confirmed as the new sales director for the UK, reporting into Peter Mann, managing director for the UK.

Reporting to Mr Powell, Nick Jones has been appointed head of sales for the south, and Gary Stirrup has been appointed head of sales for the north.

Mr Powell will also head up 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 at the 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.”