We work the way you want us to
We use five easy steps to help advisers establish long-term relationships based on trust. After that, the way we work together is entirely up to you: stay in touch regularly or only when you want further advice.
STEP 1
Getting to know you
The first meeting is key. It’s an opportunity for you to understand Schroders Personal Wealth better and for your adviser to get a deep understanding of your unique requirements. Your adviser will also explain from the outset the fees and charges for the services we offer. Good fact-finding means capturing not only information about your finances, but more importantly information about how you prioritise your needs and what you hope to achieve.
STEP 2
Reflecting on your situation
At your first meeting, your adviser will illustrate what can often be complex situations in a clear, visual format. You’ll also be able to play out different scenarios that can help you understand the options available to you.
By identifying any opportunities or shortfalls, you can work with your adviser to come to some initial conclusions, and visualise what your plan could look like.
STEP 3
Setting your goals
Following your meeting, your adviser will analyse your information and begin preparing product and service recommendations for you. They may need to contact you to ask more questions, and you may also have questions for them or have further details to add.
Your adviser will then put a plan together that clearly defines their recommendations, explaining how and why these meet your needs and objectives. They’ll also provide details of the specific products and solutions recommended, their benefits to you, together with any associated risks, and their fees and charges.
Step 4
When your plan is ready
Before presenting your plan, your adviser will ask whether any circumstances have changed, and recap everything you’ve discussed. If needed, they’ll be joined by other experts such as trust or investment specialists.
Having explained our fees and charges at the start of the process, your adviser will now explain the fees and charges for the products and services they have recommended.
They will then give you the paperwork you need to sign before we can start working together to put your plan into action. If you decide not to go ahead, we’ll confirm if you are due to pay for any of the work undertaken.
STEP 5
Putting your plan into action
Once everything has been set up you’ll receive confirmation of what has been put in place on your behalf, together with details about how your savings and investments have been invested. We believe that financial plans should adapt and change to reflect the changes in your life. If you take our ongoing advice service, regular meetings with your adviser will ensure you are up-to-date with the progress of your plan and they’re an opportunity for the two of you to review and revise your needs.
You’ll also be able to access up-to-date details of all your investment products, including performance and valuations, by logging onto our client portal.
Let’s start with a free consultation
No fees. No commitment. No obligation to buy. Let’s just see how we can help.
Frequently asked questions
Am I eligible to get advice from Schroders Personal Wealth?
A telephone-based service is available to clients who have at least £100,000 in savings, investments and/or personal pension(s), and/or £100,000 of sole annual income. Face-to-face advice is available for clients with investible assets of £250,000 or more. Fees and charges apply.
Will I know who my adviser is ahead of the meeting?
Yes. Once an adviser has been assigned to you, you will receive their biography, including a photograph, and contact details within your welcome pack.
What will I need to bring with me to the initial meeting?
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.
Will I need to fill in any paperwork before the meeting?
No. There is nothing for you to fill in ahead of the initial meeting.
Will I have to travel to meet my adviser?
No. Meetings are designed around your needs and include telephone and video conferencing.
You say the initial meeting is free: how much will I have to pay for any subsequent meetings?
During the meeting your adviser will explain all costs and charges to you before they’re incurred. You can then make an informed choice about which services you take. More details of our pricing can be found here.
How long will the first meeting last?
We recommend you set aside about 90 minutes. 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.
Can I call my adviser after the first meeting if I remember something?
Absolutely. You can call or email them if you feel there is something you didn't cover in the meeting. Email is not a secure method of communication, so please do not include personal information in any emails you send to us.
How often will I meet with my adviser?
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.
When do I settle the fees and charges?
Your adviser will explain all our fees and charges. It’s all straightforward. More details of our pricing can be found here.
How can I access my financial plan once it has been developed?
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.
Will my investments be covered by the Financial Services Compensation Scheme (FSCS)?
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/
Will Lloyds Bank and Bank of Scotland still provide day-to-day banking for its customers?
Yes. Our Personal Wealth Advisers are focused on long-term financial planning. Lloyds Banking Group can provide banking and lending solutions, including mortgages.