Norwich Union has said they will be shedding 120 members of staff to reflect the changing shape of the advisory market!
Our view
Are they mad? This company needs more, properly trained employees, to be able to deliver good service, not less.
In our opinion, the support given to independent financial advisers is already poor, some of the staff don't seem to know what they are doing, simply through lack of training, and at offered 55 day turnaround times in some departments, the waiting time for many simple requests is totally unacceptable!
So how on earth is axing staff going to improve the situation? NU, hear our plea, you are a good, solid, large investment house with broadly competitive fund performance figures, it is only service that is preventing you being bigger and better. Don't shed experience for far away call centres.