Frequently asked questions

Schroders Personal Wealth offers holistic, financial planning services to UK customers on a restricted advice basis. Our advisers can help you with protecting your family, investing and saving for retirement, the choices you make at and in retirement and also more specialist services such as how you pass on your wealth to your loved ones.

If suitable, we also work with Lloyds Banking Group should you need help with your banking needs and other expert third parties if you have specialist needs that we may not be able to meet in Schroders Personal Wealth.

We offer both one-off advice and ongoing advice, all provided face to face, via the telephone or video conferencing. Just let us know what works best for you.

Yes. Planning for a comfortable retirement and the choices you need to make at and in retirement are some of the main reasons clients seek help from a financial adviser. We do not however advise on Defined Benefit (DB) pension plans.

Schroders Personal Wealth provides restricted advice which means that whilst we will advise on a broad range of client needs, the products that we advise to meet these needs are restricted to a range of providers. We are confident that our product range is comprehensive and suitable for our client needs and is drawn from leading providers and in-house expertise.

Tax advisory and tax compliance and wills services are not regulated by the FCA.

Yes. Once an adviser has been assigned to you, you will receive their biography, including a photograph, and contact details within your welcome pack.

Your adviser would like to get a better idea of your current financial situation and understand your goals. To help with this they will ask you to bring some paperwork with you. They will explain this in detail ahead of your first meeting.

No. There is nothing for you to fill in ahead of the initial meeting.

No. Meetings are designed around your needs and include telephone and video conferencing.

Not only is your initial consultation free, but your financial planning appointment and the presentation of your financial plan and recommendations are provided with no financial commitment from you.

There are no hidden fees and charges. You'll only start to pay if you choose to go ahead with our recommendations from your personalised financial plan.

Your adviser will explain the costs and charges of the products and services you choose before they’re incurred. You can then make an informed choice about which services you take.

Your free initial consultation will last between 15 and 30 minutes.

This is followed up with your financial planning appointment. We recommend you set aside about 90 minutes for this. If your situation is complex it might take longer than this for your adviser to capture all the information needed to prepare a comprehensive financial plan.

Once your adviser has prepared your personalised financial plan, they will present their recommendations which will take around an hour.

Absolutely. You can call or email them if you feel there is something you didn't cover in the consultation. Email is not a secure method of communication, so please do not include personal information in any emails you send to us.

Our on-going advice service includes an annual review which is an opportunity to update your adviser on any changes to your circumstances.

They can then run through your plan to make sure it continues to meet your needs. But please feel free to phone your adviser at any time if your circumstances change and you feel that you need to revise your financial plan.

Your adviser will explain all our fees and charges. It’s all straightforward. More details of our pricing can be found here.

You can view all your financial information, including your personalised plan, by logging into our secure online client portal 24 hours a day 7 days a week.

Most types of investments are covered by the scheme up to the current limit of £85,000. Please refer to your terms and conditions for more information on the FSCS limits which apply to the service or products you have. More details can be found on the FSCS website at: https://www.fscs.org.uk/what-we-cover/investments/

Yes. Our Personal Wealth Advisers are focused on long-term financial planning. Lloyds Banking Group can provide banking and lending solutions, including mortgages.

Before providing investment advice to you we need to assess your attitude to risk. This will inform our recommendations to you.

Yes. It’s a monthly charge deducted from your account in arrears and you can cancel at any time.

Our Personal Discretionary Portfolio service (which your adviser might refer to as PDPS) is an actively managed discretionary investment service where we make all the day-to-day decisions on your behalf. If offers you a number of choices depending on the level of risk you are comfortable taking, and the range of investment products you need to help you achieve your financial goals

This fee reflects the active management of your portfolio by our managers. This fee is subject to VAT depending on product and is shown in the rates and charges document.

The 'platform' is where your investments with us are held and administered. It helps us provide you with reports, for example tax reporting and performance information. You can access it 24 hours a day 7 days a week. It is also where we undertake all of the trading in your portfolio and where we re-balance the assets to match your risk profile.

VAT is charged on products and services where applicable.

The one-off advice fee and ongoing review fee do not incur VAT. These are VAT Exempt financial intermediary services.

The PDPS discretionary fund management fee is subject to VAT at the standard rate subject to product (currently 20% but subject to change).

If you require specialist financial advice, your adviser will discuss this with you directly, and this will be subject to VAT at the standard rate.

Yes. Once an adviser has been assigned to you, you will receive their biography and contact details within your welcome pack.

We have over 300 advisers located all over the country and that number continues to grow. We are also able to support you remotely over the phone and internet.

We aim to provide you with one adviser throughout your financial life, however sometimes things change and people move on. If this happens, you will be sent a profile of your new adviser and your current adviser can organise a handover meeting for the three of you to talk about your personal circumstances.

If you are a Financial Adviser interested in learning more about Schroders Personal Wealth, please email adviserinfo@schroderspw.co.uk. Email is not a secure method of communication, so please do not include personal information in any emails you send to us.

While we aim to keep disruption to a minimum, some advisers are retiring from the business or are moving to other teams within the company. This can happen at any time and is not specifically relate to the creation of the joint venture. When this happens, you will be sent a profile of your new adviser and your current adviser can organise a handover meeting for the three of you to talk about your personal circumstances.

Schroders Personal Wealth is a new financial planning joint venture set up Schroders plc and Lloyds Banking Group plc. Schroders Personal Wealth combines personal relationships and investment expertise with cutting-edge digital technologies to provide an intuitive and transparent service to help customers aim to achieve their financial goals. Schroders Personal Wealth is the trading name for the new financial planning joint venture, which is operated by Scottish Widows Schroder Personal Wealth Limited. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 11722983. Authorised and regulated by the Financial Conduct Authority under number 830170.

Schroders Personal Wealth is a joint venture between Lloyds Banking Group plc and Schroders plc with Lloyds Banking Group plc as the majority shareholder.

The new joint venture is part of both companies’ commitment to help customers with their investments and financial planning. The union of one of the UK’s largest banking groups and one of the leading investment brands will bring more shared knowledge and more investment options. We believe financial planning can change lives and want to make it available to more people in the UK.

The new company became operational on 1 June 2019. Your Private Banking and Advice Manager will move to the new company and will continue to be your main point of contact for your investments as a Personal Wealth Adviser there. We’ll keep you informed and your Private Banking and Advice Manager will provide you with any support you may require.

Most types of investments are covered by the scheme up to the current limit of £85,000. Please refer to your terms and conditions for more information on the FSCS limits which apply to the service or products you have. More details can be found on the FSCS website at: https://www.fscs.org.uk/what-we-cover/investments/

Yes, Lloyds Bank Private Banking and Bank of Scotland Private Banking customers will still have their day-to-day banking provided by Lloyds Bank and Bank of Scotland.

Schroders Personal Wealth will offer holistic, transparent financial planning services to UK customers.

To get advice from Schroders Personal Wealth, you’ll need to have: Around £100,000 in savings, investments and/or personal pension(s), and/or £100,000 of sole annual income

If you are a Financial Adviser interested in learning more about Schroders Personal Wealth, please email adviserinfo@schroderspw.co.uk.

While we aim to keep disruption to a minimum, some advisers are retiring from the business or are moving to other teams within the company. This can happen at any time and does not specifically relate to the creation of the joint venture. When this happens, you will be sent a profile of your new adviser and your current adviser can organise a handover meeting for the three of you to talk about your personal circumstances.