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Frequently Asked Questions

Read some frequently asked questions about the Schroders Personal Wealth Financial Planning Service.

    1. How can I meet with a Schroders Personal Wealth Adviser?

      You can meet with a Personal Wealth Advisers in any of the following ways:

      • In your preferred branch
      • At home or at work over the phone, or with our video meeting service, available through any PC or tablet
      • A Personal Wealth Adviser can meet you at a place of your choosing. You will need a certain level of savings, pensions and/or investments amounts to qualify for this service.

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

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    2. What can I expect from the introductory no charge appointment?

      During the introductory no charge 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’ll need to bring some relevant information to the first meeting, including details of your current savings, investment and pensions so you can make the most of the time that you have with your adviser.

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    3. How long will the appointments last?

      Your first appointment 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.

      Your Schroders Personal Wealth Adviser will be able to tell you more about this when you meet.

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

      The Schroders Personal Wealth Adviser’s recommendations are a tailored service. This means that the level of support you require can vary and so will the time that it takes to prepare their recommendation based on your needs.

      As soon as your Schroders Personal Wealth Adviser meets with you to understand your needs they will be better placed to provide a timeline.

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    5. I am eligible for the service. Do I need to be a Lloyds Bank customer to use it?

      To be eligible for the service, you don’t need a prior banking relationship with Lloyds Bank.

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    6. Is the eligibility criteria evaluated individually, or can it 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.

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    7. Does the eligibility criteria for this service include your main property of residence?

      Your main residential property will not be considered to evaluate whether or not you’re eligible for this service.

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    8. 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.

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

      Workplace pensions will not be considered when evaluating whether or not you're eligible for this service.

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    10. What evidence is needed in regards to my eligibility for the service?

      You will not need to provide evidence in regards to your eligibility to book the first appointment. However, this service is for those customers who meet the eligibility requirements shown on our Financial Planning page.

      You’ll need to bring some relevant information to the first meeting, including details of your current savings, investment and pensions so you can make the most of the time that you have with your adviser.

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    11. Are the Schroders Personal Wealth Advisers independent financial advisers?

      The Schroders Personal Wealth Advisers are not independent.

      They will only give advice on a limited number of providers that have been carefully selected by Schroders Personal Wealth.

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    12. 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 may apply based on the level of support selected. Schroders Personal Wealth has a clear and straightforward pricing structure, which will be carefully reviewed with the Schroders Personal Wealth Adviser on your first meeting.

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

      Not currently.

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    14. Who is Schroders Personal Wealth?

      Schroders Personal Wealth is a new financial planning 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.

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