The NAB owned MLC Wealth has announced further details in its bid to simplify the structure of the various brands under its Advice business, ahead of an eventual exit from the NAB Group. As part of an ambitious multi-year plan, flagged in March 2019, the disparate components of the MLC Wealth operating model will be reshuffled into four "key business pillars": Advice; Retirement and Investment Solutions; Platforms; and Asset Management.MLC Wealth chief executive officer Geoff Lloyd said the changes were part of ongoing work to service defined client markets, in preparation for its separation from NAB Group. Actions announced under the latest iteration of the MLC Wealth advice review include:•    Bringing together employed advisers under the MLC Advice brand (the trading name for GWM Adviser Services), which will involve setting up new professional offices in fewer locations, and "advice experience centres".•    Simplifying Advice licenses in future, moving from the present five, to two. •    Changes to advice business brands will see the 140 advisers at Godfrey Pembroke focus on high net worth clients. In the lead-up to the banking royal commission, about 30 of its senior staff exited for various reasons.•    A new combined group of financial advice businesses and networks will be set up to absorb Garvan Financial Planning, which has over 350 advisers across Australia; Apogee, which is self-described as "an exclusive boutique network of approximately 100 advice groups across Australia"; and Meritum, a wholly owned subsidiary of the National Australia Bank with about 110 advisers.•    The NAB group is to exit the self-employed financial advisor franchise models of MLC Advice Stores and NAB Financial Planning self-employed. NAB FP was part of a move that kicked off in early 2015 to allow NAB's salaried financial planners to purchase their client book as an alternative to joining other NAB-aligned dealer groups.•    MLC has also promised to invest in education, including setting up peer networks and coaching programs, "to deliver higher levels professionalism and compliance". Similarly, its Advice support functions will be rolled into one team to improve consistency and efficiency.The changes detailed above will take place "over the coming months", NAB said in a statement to media and clients. The proposed structure of MLC Wealth's employed advice network is also to be revised, although no details have yet been released.