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Schroders hires from SJP to launch academy

Schroders hires from SJP to launch academy

The adviser responsible for the St James’s Place academy has joined the Schroders and Lloyds financial planning joint venture to lead the set up of its own adviser school. 

Tom Horan has joined Schroders Personal Wealth as head of adviser development this month, as the business sets its sights on creating an adviser academy. 

Mr Horan joined from St James’s Place Wealth Management. 

His new role will include recruiting advisers to join Schroders Personal Wealth and leading their professional development once at the firm. Mr Horan will also be responsible for creating an adviser academy at the newly created advice joint venture. 

James Cardew, chief marketing officer at Schroders Personal Wealth, said Mr Horan’s recruitment was "fundamental" for the business.  

Mr Cardew said: "Tom’s impressive experience makes him the perfect candidate for this important role.

"We are determined to become one of the UK’s leading financial planning businesses and that means we need to provide an excellent service to our clients. 

"At the heart of this is the relationship between the adviser and client. Tom will be responsible for recruiting and training employed advisers of the highest professional standard."

The company has not decided which professional body's qualifications it will use.

Schroders Personal Wealth aims to become a "top three" financial planning business within five years and earlier this year was reported to be in the market for 700 advisers. It also aims to double its assets under management from £13bn to £25bn.

In August Schroders Personal Wealth hired Jessica Miller, former lead investment proposition manager at Hargreaves Lansdown, and Claire Walsh, joining from her role as personal finance director at Schroders, as the business prepared for its launch to the wider UK advice market later this year. 

The service launched to existing customers in June when 500 employees transferred in to the business, which is owned 50.1 per cent by Lloyds and 49.9 per cent by Schroders. 

A spokesperson for Schroders Personal Wealth maintained its platform was on track for its anticipated full launch in the fourth quarter of 2019, despite recent technology problems.

The company has said it will target investors with a minimum of £100,000 in investable assets.

rachel.mortimer@ft.com 

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