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Wealth management FAQs
Here are some of the common questions customers ask about Wealth Management and Schroders Personal Wealth.
About wealth management
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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.
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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.
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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.
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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.
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No, not at the moment.
Eligibility criteria
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No, you don’t need an existing banking relationship.
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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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Can I use my main property of residence as proof of eligibility for this service? expandable section
No. Your main residential property isn’t included in our eligibility criteria to use this service.
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Yes, you can include your personal pensions, even if you no longer contribute into them.
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No, we don’t consider workplace pensions when evaluating whether you're eligible for this service..
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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.
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Yes, you need to be a UK resident for us to give advice.
Fees and charges
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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.
Appointment questions
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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.
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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
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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.
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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.
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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.
Other considerations
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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.
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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.
Important legal information
Schroders Personal Wealth is a trading name for Scottish Widows Schroder Personal Wealth Limited.
Claims may be protected by the Financial Services Compensation Scheme. We are covered by the Financial Ombudsman Service.