Schroders wealth arm posts record high AUM of £110bn

Results published today (29 February) show Schroders' wealth management arm recorded £110.2bn, an increase from £98.1bn last year, supported by £6.6bn in net new business throughout 2023, compared with £5.4bn in 2022. A rise in management fees increased net operating revenue for the wealth management division to 7% (£423.2m from £394.3m in 2022). Schroders said there is "promising progress" for its wealth management arm, with a 16% rise in operating profit last year to £150.5m, as it expects the division to hit a compound annual growth rate of 10% between 2022 and 2025. The overall...