Schroders Personal Wealth (SPW) is now a fully owned subsidiary of Lloyds Banking Group
Change in the Ownership Structure of Schroders Personal Wealth (SPW) - Additional Information
What’s happening?
As you may know, Schroders Personal Wealth (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.
From today, 9 October, Schroders Personal Wealth (SPW) will become a fully owned subsidiary of Lloyds Banking Group and over the coming months, will become Lloyds Wealth subject to any necessary regulatory approvals.
Are Schroders no longer involved in SPW?
Although Schroders will no longer be a joint venture partner, they will continue in their role as the Investment Adviser in respect of the ACD’s funds, meaning you will continue to benefit from Schroders’ investment expertise.
Do I need to do anything?
No. There is no action required.
Who should I contact if I still have questions?
If you have any questions or need further clarification, please contact us in the usual way.
Will the way I manage my investments change?
No. There will be no change to how you are able to view and manage your investments in the ACD funds.
How will this affect our Investment offering
Although Schroders will no longer be a joint venture partner, Schroders continues in their role as our Investment Adviser and there will be no changes to way the funds are managed as a result of this announcement.
What will happen to the SPW Brand?
In the coming months (and subject to the necessary regulatory approvals) we will rename SPW (ACD) (and its funds) to Lloyds Wealth (ACD).
We’ll continue operating as SPW for the time being.
Will there be any changes to the SPW Funds?
There are currently no planned changes to the investment strategy or risk profile of the funds and they will continue to be managed in line with their existing investment objectives and policies. Schroders will continue in its role as investment adviser.
As discussed above, over the coming months, we will rename SPW (ACD) to Lloyds Wealth (ACD) and will update the ICVC name and fund names accordingly. Due to the regulatory process, this may take some time to come into effect. We will advise you of any changes as they occur.
Will the fund charges change?
There are currently no anticipated changes to the fund charges. If there were to be a change at some point in the future, any increase in fees would require investor notification anyway prior to being implemented.
Will this effect fund performance?
Fund performance is dependent on market conditions and investment strategy, which remains unchanged.
