IPC Financial Network Inc. on Thursday unveiled details of its restructuring plans, which will result in an annual savings of $3 million to the financial planning firm.

The changes involve the consolidation of operations, the streamlining of senior management roles and the disposition of non core assets.

The company has been restructuring various aspects of its operations for the last 80 days and anticipates completion of such restructuring within the next 30 days.

“Management’s focus over the summer months has been on two critical areas: creating operational efficiencies and getting back to our core business of supporting our advisors in dealing with their clients,” said Steve Meehan, CEO of IPC, in a news release.

Some of the more substantial changes are the result of IPC’s shift away from growing the company through acquisitions and mergers. “As a result we are able to re-tool our Company, focusing 100% on our advisors’ needs,” said Meehan.

As a result of the repositioning, Chris Dingle, who for the past four years has been president of IPC Financial Network Inc., will be stepping down effective August 31.

Dingle will continue to be an active member of the board of directors and will assist IPC in future projects as needed.

Tom Kofman will be stepping down as CFO effective August 31. The new CFO for the company will be Scott Franklin. Scott has worked with IPC for three years as VP, finance of IPC’s largest subsidiary and has many years of experience in the financial services field.