Schroders and Lloyds have confirmed the launch of a wealth management strategic partnership in 2019 that the companies want to make one of the "top three UK financial planning businesses within five years".
In an announcement to the stock exchange, the groups said they are entering into a strategic partnership to create a "market-leading wealth management proposition" that will combine Schroders' investment and wealth management capabilities with Lloyds' client base, distribution and digital capabilities. It said the new financial planning joint venture company will be for "affluent customers" that will address the gap in the advice market by offering "a personalised, advice-led proposition, backed by world-class investment expertise and best in class technology". Lloyds will own 50.1% of ...
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