The seven regional sales teams will be cut to three, due to the changing way that advisers are running their businesses following the RDR, which has increased pressure after scrapping the commission-based model.
No redundancies have yet been made, and platform arm FundsNetwork is not affected.
“In response to the changing landscape as a result of the Retail Distribution Review we are currently reviewing the structure of Fidelity’s retail sales team to best meet the needs of advisers”, a Fidelity spokesperson said.
“Under these changes the team is expected to grow, although some roles may no longer exist. No further details are available at this time.”