Insurance group Aviva plans to cut its direct advice team and will no longer offer face-to-face investment and protection advice for its customers 31 May 2013 onwards.
The move, which comes as part of the 2,000 job cuts at Aviva, will affect approximately 120 advisers, most of whom are field-based.
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According to the life insurer, the cuts will impact 20 advisers who work in Coventry Building Society under a bancassurance deal with Aviva for investment and protection advice, as they pull out from offering investment advice to its customers.
Aviva said the move has been "prompted by consumer demand", which is leaning towards internet and telephone-based services rather than a face-to-face advice service.
An Aviva spokesman said: "We have previously outlined plans to reduce our expenditure to improve our position as a business."
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