Schroders Personal Wealth is set to launch 11 offices in a bid to support its regional growth across the country.
The new advice venture from Schroders and Lloyds announced today (April 21) the hubs would be set up as semi-autonomous adviser businesses within the Schroders Personal Wealth network and will be operational from tomorrow.
Each hub will be headed by a regional director who will have the freedom to shape their own business and will be responsible for selecting and leading the hub team as well as revenue generation.
The hubs will be located in Birmingham, Bristol, Cambridge, Cardiff, Edinburgh, Exeter, Guildford, Manchester, Leeds, London and Oxford while a head office in London and a centralised operations centre in Leeds will provide the central support functions.
Peter Hetherington, chief executive, said: “This is another important milestone for Schroders Personal Wealth. This group of new leaders will be pivotal in driving the success of the business going forward, both at the regional and group level.”
Mr Hetherington said supporting clients was “paramount” to the firm during the current environment, adding that it remained fully operational and continued to be in regular contact with clients.
He added: “This new structure ensures we can continue to put our clients’ needs first. It allows clients to get a more personal and local experience, developing strong relationships with advisers and support within the hubs.”
Schroders Personal Wealth, which is owned 50.1 per cent by Lloyds and 49.9 per cent by Schroders, requires its clients to have a minimum investable assets of £100,000 before taking them on.
Since announcing its launch last year, it has been vocal about its aspirations to become a top three financial planning business in the UK within five years.
imogen.tew@ft.com
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