The financial planning joint venture between Schroders and Lloyds is looking to hire more than 700 financial advisers as it targets a doubling of assets under management to £25bn, according to reports.
The Financial Times suggested the ambitions of the pair would set the stage for "a potential acquisition spree" and "war for talent" against rivals such as St James's Place and Rathbones. Confirming their plans for a wealth management strategic partnership last October, Schroders and Lloyds said they wanted to make it one of the "top three UK financial planning businesses within five years". The FT said it had seen internal documents that set a goal of increasing the joint venture's assets under management from about £13bn to £25bn - "equivalent to annual growth of about 14%". "One...
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