The effects of the coronavirus pandemic have caused Schroders Personal Wealth (SPW) to set back its goal of becoming one of the top three financial planning businesses by two years.
In results published on Wednesday (24 February) by Lloyds Banking Group, which runs SPW along with Schroders, the company revealed it now expects the wealth management business to reach its goal by 2025, instead of 2023. It said beyond 2021, it expects to increase the number of priority customers with existing needs met by both retail, insurance and wealth to achieve £25bn in net new money. A Lloyds Banking Group spokesperson told Professional Adviser: "We had originally stated our ambition for Schroders Personal Wealth to be a top three UK financial planning business by the end of 2...
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