AMP Financial Planning is restructuring its product research division and has made five roles redundant.
The redundancies include the product research team manager.
"The restructure is aimed at increasing the level of service provided to our planners," an AMP spokesperson said. "We are removing duplication."
The measure was initiated after a review of the business and only affects the product research team.
"It is realigning the services they provide to planners," the spokesperson said.
AMP will also create five new roles as a result of the restructuring, and the five employees who were made redundant have been asked to apply for those roles.
Some of them have taken AMP up on its offer, the spokesperson said.
The restructuring is expected to be finalised next week.
Parent company AMP Limited cut 300 jobs across the board in the December quarter, when it also flagged that more roles could be scrapped.
