Our Wealth Management business is changing

We have announced an important new joint venture with Schroders plc. The aim is to offer a market-leading wealth management service for our Wealth customers in the UK. Lloyds Banking Group plc and Schroders plc plan to create the new joint venture by mid-2019, subject to regulatory and legal approvals.

Financial planning and advice

Our new joint venture with Schroders plc will allow us to create a best-in-class investment and financial planning service for our Wealth customers, and we will be transferring part of our existing Wealth Management business to the new joint venture. Through it we’ll continue to provide customers with access to our highly experienced adviser teams and established digital capability, as well as Schroders plc’s world-class investment expertise and technology.

Wealth management expertise

As part of these changes, Lloyds Banking Group plc will also become an investor in the holding company of Schroders’ UK wealth management business. Eligible customers with more complex needs will have access to Cazenove Capital's established specialist wealth management expertise, to help them achieve their financial ambitions.

Investment management

Schroders plc will also manage part of our investment business, giving customers access to their leading asset management capabilities.

Banking and lending

Your day-to-day Private Banking and lending accounts and services will continue to be provided by us.

These changes are subject to regulatory and legal approval. We will update this web page as things develop, so please check back from time to time. You don’t need to do anything, but if you have any questions please speak to your Private Banking and Advice Manager.  You’ll also find answers to some common questions below.

Lloyds Banking Group plc have announced an important new joint venture with Schroders plc. The aim is to offer a market-leading wealth management service for our Wealth customers in the UK.

We will be transferring part of our existing Wealth Management business to the new joint venture. Through it we’ll continue to provide customers with access to our highly experienced adviser teams and established digital capability, as well as Schroders plc’s world-class investment expertise and technology.

As part of these changes, Lloyds Banking Group plc will also become an investor in the holding company of Schroders’ UK wealth management business. Eligible customers with more complex needs will have access to Cazenove Capital's established specialist wealth management expertise, to help them achieve their financial ambitions.

Schroders plc will also manage part of our investment business, giving customers access to their leading asset management capabilities.

Your day-to-day Private Banking and lending accounts and services will continue to be provided by us.

Lloyds Banking Group plc and Schroders plc plan to create the new joint venture by mid-2019, subject to regulatory and legal approvals.

The aim is to offer a market-leading wealth management service for our Wealth customers in the UK.

We plan to transfer part of our existing Wealth Management business to the new joint venture and to the holding company of Schroders’ UK wealth management business, providing eligible customers with access to Cazenove Capital. Your day-to-day Private Banking and lending accounts and services will continue to be provided by us.

You don't need to do anything. We will keep you up to date with any changes and if your investments and services are affected, your Private Banking and Advice Manager will contact you personally in 2019 so you understand what it means for you. Then you will have the opportunity to consider the changes and discuss what options are open to you.

These changes are subject to regulatory and legal approval. We will update our web pages as things develop, so please check them from time to time - go to lloydsbank.com/wealth-management-new or ask your Private Banking and Advice Manager for the latest information.

You don't need to do anything, if your investments and services are affected by these changes your Private Banking and Advice Manager will contact you personally in 2019, so you understand what it means for you.

There are occasions when your existing relationship changes. We will do everything we can so the relationship between you and your adviser remains the same. However there may be some instances where this isn’t possible.

If you are affected, your Private Banking and Advice Manager will contact you personally in 2019 about the change, so you understand what it means for you.

Your day-to-day Private Banking and lending accounts and services will continue to be provided by us.