Financial services giant Aviva is set to cut jobs in its financial planning operation.
The firm told International Adviser that around 60 financial adviser roles will be cut in a strategic overhaul of the division.
The cull represents a two-thirds reduction in the number of advisers at the insurance firm, which has around 100 planners.
Overall, Aviva Financial Advice will be losing 79 roles, with the number of managers falling by 16, and a small number of support roles also scrapped.
Not pulling back
An Aviva spokesperson said to IA: “We believe in the importance of providing advice to customers to help them achieve positive financial outcomes.
“The role reductions communicated today do not signal us pulling back on the advice market, but will enable us to introduce new capability and broaden our advice proposition, so we can really support customers with their financial planning at different life stages, whilst retaining a focus on ‘at retirement’ which is where the advice gap is most apparent.”
