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Wealth Management

FAQs

COMMON QUESTIONS

Here are some of the common questions customers ask about Wealth Management and Schroders Personal Wealth.

About Wealth Management expandable section
Eligibility criteria expandable section
Do I need to bank with you to use this service?

No, you don’t need a prior banking relationship.

Are the eligibility criteria evaluated individually, or can they be based on joint assets?

You can jointly apply for this service if you have a combined £100,000 in savings, investments and/or personal pensions, or, if you each have £100,000 sole annual income.

Do the eligibility criteria for this service include my main property of residence?

No. Your main residential property will not be considered to evaluate whether or not you’re eligible for this service.

Can my personal pensions be included as part of the eligibility criteria?

Yes. Your personal pensions can be included, even if you no longer contribute into them.

Can my workplace pension be included as part of the eligibility criteria?

No. Workplace pensions will not be considered when evaluating whether or not you're eligible for this service.

What evidence is needed regarding my eligibility for the service?

You will not need to provide evidence regarding your eligibility to book the first appointment. However, this service is for those customers who have at least:

£100,000 of sole/joint savings, investments and/or personal pensions and/or

£100,000 of sole annual income

You will need to bring some relevant information in order to make the most of the time that you have with the adviser. This information can include details of your current savings, investments and pensions.

Do I have to be a UK resident to use this service?

Yes. You need to be UK resident subject to UK tax for us to give advice.
Fees and charges expandable section

How much does this service cost?

There are no charges for the initial appointment, and there is no obligation to sign up for any services or products.

Fees and charges for any advice services will be based on the level of support selected;either one-off advice or ongoing advice. Schroders Personal Wealth has a clear and straightforward pricing structure. This will be carefully explained with the Schroders Personal Wealth Adviser on your appointment.
Appointment questions expandable section
How can I meet a Schroders Personal Wealth Adviser?

A member of the Schroders Personal Wealth team can discuss these options with you when they call. You can meet:

In your preferred branch

At home or at work over the phone, or with our video meeting service available through any PC or tablet.

In some instances, a Personal Wealth Adviser can meet you at a place of your choosing.

What can I expect from the free fifteen minute conversation?

The Personal Wealth Adviser will:

Explain their role and the meeting process

Understand your goals

Confirm appointment details such as attendees, time and location as well as what you should bring to the appointment

What can I expect from the appointment?

During the appointment, the Schroders Personal Wealth Adviser will review the offering and which options are available to you. The services will be matched to your financial goals, and your adviser will build a plan together with you aimed at achieving them.

You will need to bring some relevant information in order to make the most of the time that you have with the adviser. This information can include details of your current savings, investments and pensions.

How long is an appointment likely to last?

Your initial conversation will be 15 minutes, followed by an appointment that will last between 60 and 90 minutes. How long any following appointments take will depend on the level of support you've chosen to have.

How soon will the Schroders Personal Wealth Adviser have recommendations ready for me?

The level of support required can vary and so will the time that it takes to prepare the recommendation based on your needs.

Your Schroders Personal Wealth Adviser will be able to provide a timeline after the first meeting.
Other considerations expandable section

How long will I need to invest for?

Schroders Personal Wealth focus on developing a diversified portfolio that aims to deliver positive returns over the long-term. By this, we mean a period of 5 years or more. Our analysis indicates that this heightens the chances of benefiting from rises in investments while riding out shorter-term challenges.

That said, we do make short-term adjustments designed to minimise the effect of falls in value while also taking opportunities to benefit from short-term gains where appropriate.

What is the risk?

All investments carry a degree of risk. Schroders Personal Wealth Adviser will take time to understand your unique personal circumstances and how much risk is appropriate for you.

This understanding will form the basis of the recommendations that we make.

Who are Schroders Personal Wealth?

Schroders Personal Wealth is a new Wealth Management business that is backed by Lloyds Banking Group and Schroders.

Schroders Personal Wealth is a trading name for 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 number 830170

What products and services does Schroders Personal Wealth offer?

They offer expert advice and Wealth Management services on a restricted advice basis. Advisers can help you with investing, saving and support for retirement, passing on your wealth and protecting your family.

Are the Schroders Personal Wealth Advisers independent financial advisers?

No. Schroders Personal Wealth provides restricted advice, which means they will only give advice on a limited number of providers that have been carefully selected by Schroders Personal Wealth.

How can I find an Independent financial adviser?

Unbiased (unbiased.co.uk) is a service that finds a local adviser based on your requirements. You can also find mortgage brokers, accountants and solicitors on Unbiased.

Can I receive advice on my Defined Benefit/ Final Salary pension scheme?

Not currently.

Important legal information

Schroders Personal Wealth is a trading name for Scottish Widows Schroder Personal Wealth Limited.

Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.

Claims may be protected by the Financial Services Compensation Scheme. We are covered by the Financial Ombudsman Service.

Do I need to bank with you to use this service?

Are the eligibility criteria evaluated individually, or can they be based on joint assets?

Do the eligibility criteria for this service include my main property of residence?

Can my personal pensions be included as part of the eligibility criteria?

Can my workplace pension be included as part of the eligibility criteria?

What evidence is needed regarding my eligibility for the service?

Do I have to be a UK resident to use this service?

How much does this service cost?

How can I meet a Schroders Personal Wealth Adviser?

What can I expect from the free fifteen minute conversation?

What can I expect from the appointment?

How long is an appointment likely to last?

How soon will the Schroders Personal Wealth Adviser have recommendations ready for me?

How long will I need to invest for?

What is the risk?