Schroders Personal Wealth (SPW) is now a fully owned subsidiary of Lloyds Banking Group
Here are answers to some common questions about this transition:
What’s happening?
From today, 9 October, Schroders Personal Wealth (SPW) is a fully owned subsidiary of Lloyds Banking Group and over the coming months, will become Lloyds Wealth.
These changes reflect our ambition to create a distinctive, end-to-end wealth proposition under the Lloyds brand – combining expert in-person advice with powerful digital tools to help you make your most important financial decisions.
As you may know, SPW was created in 2019 as a joint venture between Lloyds Banking Group and Schroders to provide simple, accessible and affordable financial advice to more people across the UK, including Lloyds’ significant retail customer base.
Lloyds is driven by its purpose to help Britain prosper and now, with SPW joining the group, we’ll be able to do more to use our scale and experience to support you in your wealth creation. More of your financial needs can be catered for under one roof, from cash savings to mortgages, pensions and investments, and we’ll continue to help you make the most of your financial decisions.
Are Schroders no longer involved in SPW?
Although Schroders will no longer be a joint venture partner, they will continue in their role as asset manager, meaning you will continue to benefit from Schroders’ investment expertise.
As a client, what do the changes mean for me?
There will be no changes to your relationship with SPW. You’ll continue to receive the same high level of service and support that you have come to expect from us and your personal wealth adviser will not be changing as a result of this announcement.
Do I need to do anything?
No. There is no action required.
Are there changes to my adviser/support team as a result of this announcement?
No. Please be assured that everything you currently know and have come to expect from your Schroders Personal Wealth adviser and support team will stay the same.
You’ll experience no change in how you deal with us.
Who should I contact if I still have questions?
If you have any questions or need further clarification, please contact your adviser or support team in the usual way.
