Common questions

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

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

    No, you don’t need an existing banking relationship.
     

    Are the eligibility criteria evaluated individually, or are they 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

    Can I use my main property of residence as proof of eligibility for this service?

    No. Your main residential property isn’t included in our eligibility criteria to use this service.
     

    Can I include my personal pensions as part of the eligibility criteria?

    Yes, you can include your personal pensions, even if you no longer contribute into them.

    Can I include my workplace pension as part of the eligibility criteria?

    No, we don’t consider workplace pensions when evaluating whether you're eligible for this service..
     

    What evidence do I need in relation to my eligibility for the service?

    You won’t need to give evidence for your eligibility to book the first appointment. This service is for those customers who have at least:

    • £100,000 of sole/joint savings, investments and/or personal pensions Or
    • £100,000 of sole annual income

    Please bring relevant information to your appointment. This will help you make the most of the time that you have with the adviser. This information may 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 a UK resident for us to give advice.

  • How much does this service cost?

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

    If you take out a product or service, fees or charges will be based on the support you need. This includes whether you have one-off or ongoing advice. The adviser will also explain the pricing structure during your appointment.

  • 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 first 15-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?

    Schroders Personal Wealth will review your information and talk you through the available services. They’ll match services to your financial goals and build a plan to help you achieve them.

    Please bring relevant information to your appointment. This will help you make the most of the time that you have with the adviser. This information may 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 a longer appointment. This will be between 60 and 90 minutes. The length of other appointments will depend on the support you want.

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

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

    Your Schroders Personal Wealth adviser will give you a timeline after the first meeting.

  • How long will I need to invest for?

    Schroders Personal Wealth focuses on developing portfolios that aim to deliver positive returns over the long term. We recommend a period of 5 years, as this covers any rises and falls in investment performance over that period.

    That said, there may be short-term adjustments. These are designed to minimise the effect of falls in value. Please note that the value of investments can go down as well as up and you could get back less than invested. 

    What is the risk?

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

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

  • How can I get extra support if I have hearing or speech impairment?

    If you have a hearing or speech impairment Schroders Personal Wealth advisor will use Relay UK to call you. While on the call the Schroders Personal Wealth advisor will talk and a Relay Assistant on the call types what they say so you can read it and respond. Find out more on the Relay UK website.

    Does Schroders Personal Wealth offer extra support for blind or partially sighted customers?

    Schroders Personal Wealth can send you any of their brochures in the following formats:

    • Braille
    • Large print
    • Audio CD

    They will aim to send you everything in the format you choose.

    Does Schroders Personal Wealth offices have wheelchair access?

    Schroders Personal Wealth have 11 regional offices across the UK or a Lloyds branch so that they can bring advice closer to their clients. To find out where their offices are located and what changes they have made to their buildings to make them more accessible they offer a report which you can find on their website.  

    What support is available on your website to make sure it is user friendly for everybody?

    We know how important it is for you to be able to access what you need online. Find out how we help with your needs.

Who is Schroders Personal Wealth?

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

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

What products and services do Schroders Personal Wealth offer?

You are able to receive expert advice and Wealth Management services. Advisers can help you with investing, saving and support for retirement, passing on your wealth, and protecting your family. These are all on a restricted advice basis.
 

Will Schroders Personal Wealth offer independent financial advice?

No, Schroders Personal Wealth only offers restricted advice. This means they’ll only give advice on a limited number of providers, 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 pension or final salary pension scheme?

No, not at the moment.

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.