Charles Stanley has today revealed further details of a restructure expected to take up to three years.

The project is expected to cost “in the order of” £9.5 million, and will include creating a single middle and back office for the firms’ four divisions, the simplification of its management structure, investment in technology, and other standardisation measures.

The firm expected these measures to yield immediate cost savings, building to £4.5 million per year from the 2022 financial year.

“The restructuring will result in a net charge to the group's profit in FY 2020 but be positive thereafter,”...