The restructure, which includes four redundancies, is intended to reshape the organisation as part of its strategy to deliver a strong service vision for its clients.
PIS chief executive Peter Walther said the structural realignment included changes to the management team.
"The organisational changes are intended to achieve greater functional and role clarity for staff, clients and other stakeholders, such as product providers," Mr Walther said.
"We have in effect flattened the organisation's structure to improve how we interface with our clients and we are implementing a regional leadership model as part of this change.
"Whilst we tried hard to minimise the direct impact to staff, four staff members were made redundant," he said.
He also said the changes were not motivated by cost cutting or based on performance of any individuals.
As part of the restructure, Mr Walther said the advice business will be separated into three individual departments: client engagement, client recruitment and client strategy and solutions.
Former-PIS group general manager of advice Stephen Poole will assume leadership of client engagement effective immediately.
Leadership of client recruitment and client strategy and solutions will be finalised in the near future.
"All three roles comprise critical elements of our future business as we strive to be the best non bank-owned advice services business in Australia," Mr Walther said.
When asked if further redundancies are expected, a PIS spokesperson told InvestorDaily that the changes are not part of a larger reorganisation within PIS.
