Last year the Isle of Man headquartered provider amalgamated its UK based distribution teams and created a ‘specialist products’ sales team.
Axa confirmed that it is from this specialist products team that two roles are “at risk”.
In a statement, the company said: “Axa Wealth is enhancing its management structure to create efficiencies to better support its adviser segments.
“We remain committed to the offshore advisory market and announced a while ago that we would evolve our business structure to offer the best support to advisers in line with the unprecedented levels of change in the industry.”
The news comes after the company made seven members of its offshore team redundant last May, including five international development managers and two account directors.
In turn, the company created seven new roles to reflect what managing director Mike Foy said was a shift in the “battle lines” following the implementation of the UK’s Retail Distribution Review, specifically targeting retail private banks, platforms, IFAs and wealth managers.
“We’re finding the knowledge of the IFAs we deal with is increasing as offshore becomes more mainstream – it’s not really the dark secret it used to be,” he said. “This means technical support can be provided from in-house so the need for technical specialists out in the field is diminishing.
“In addition our general sales guys’ knowledge of the offshore market is lifting.”
