Around 200 client servicing staff will move to Aberdeen Adviser as the firm takes responsibility for client service for its Wrap platform back from FNZ.
Under a new arrangement, Aberdeen will take responsibility for adviser service from platform engine FNZ.
FNZ will continue to provide the operating platform for Wrap, custody and settlement, with Aberdeen also joining its premium service proposition FNZ Select including features such as building AI capabilities.
Aberdeen said that it does not anticipate any job losses as part of the process.
Aberdeen claims the simplified operating model will bring significant benefits to advisers through streamlined processes and integration with its client-facing teams.
Jason Windsor, group chief executive of Aberdeen, said: “We know that good service is of extreme importance to our IFA clients. They want a smooth, uninterrupted experience so that they can spend their time advising their clients on how to navigate their investments. We need to have a relentless focus on delivering that service for our clients.”
Aberdeen’s adviser business holds over £80bn in client assets.
Mr Butwell joined the business in 2003 as a UK distribution director when it was known as Standard Life plc.
He then took on a variety of roles before becoming CEO of the company’s UK savings business Adviser when it was established as a separate business unit in 2019.
He was also chairman of the firm’s Financial Planning business between 2019 and 2022 when it was known as Abrdn (sic) Financial Planning.
Aberdeen said the process to appoint a successor as CEO of Aberdeen Adviser, “is advanced and we will provide an update shortly.”