The pensions and protection divisions of the business previously had their own marketing and proposition teams, but these will be phased out in favour of two overall teams with responsibility across the entire intermediary business.
Mr Edwards will stay for the next few months to oversee the transition. At the moment, it is not known whether he has a new position elsewhere.
Mr McKee added: “We are starting to restructure the division to help deliver greater efficiency while continuing to provide strong expertise in our chosen markets. Mr Edwards has decided not to be considered for a role in the new structure and will leave the company in due course to pursue new challenges.”
Peter Chadborn, director of Colchester-based Plan Money, said: “Mr Edwards was one of the founders of the menu-plan protection which was launched by Scottish Provident and modernised by Bright Grey, so it’s a shame to see someone with that history leave.
“Up to now, the confusion in the mind of the adviser has concerned what Bright Grey and Scottish Provident are separately good at. It’s been an anomaly in the protection business that two strong brands have been competing against each other.”