Schroders and Lloyds Partnership

[maximan]

https://www.londonstockexchange.com/exc ... 13839366.h

RNS Number : 9253E
Schroders PLC
23 October 2018


Schroders plc

23 October 2018

SCHRODERS AND LLOYDS ANNOUNCE WEALTH MANAGEMENT STRATEGIC PARTNERSHIP AND AGREEMENT TO MANAGE £80BN OF SCOTTISH WIDOWS AND LLOYDS ASSETS

Schroders plc ('Schroders') and Lloyds Banking Group ('Lloyds') today announce that they are entering into a strategic partnership to create a market-leading wealth management proposition.

This strategic partnership will combine Schroders' investment and wealth management expertise and technology capabilities with Lloyds' significant client base, multi-channel distribution and digital capabilities.

For Schroders, the partnership will continue its expansion into the strategically important UK wealth management market, building on its core strengths in active investment management. It will also leverage Benchmark Capital's1 award-winning adviser platform technology.

For Lloyds, the partnership is in line with the strategic objectives outlined in its latest strategic review and will accelerate the development of its Financial Planning and Retirement business, and deliver significant additional growth.

[maximan]

I'm a little overweight and under water so every little helps although I feel this announcement will not do much.
Lets hope the 3rd Quarter figures will do more.

[idpickering]

I'm a little overweight and under water so every little helps although I feel this announcement will not do much.
Lets hope the 3rd Quarter figures will do more.

You won't have long to wait, as the Lloyds Q3 results are out tomorrow. I hold, and my plan is to top up soon.

Ian.

[Dod101]

I cannot find the details. The link is not working for me and it does not seem to be listed on Lloyds or Schroders site but it presumably refers to the announcement earlier about the 51/49% joint venture between Lloyds and Schroders. Is that it?

Dod

[maximan]

Hi Dod
The link is not working for me either.
I have just looked it up again on the investigate site and it is there if you type in lloy in the search box .
https://www.investegate.co.uk/
To answer your question it is about the joint venture you mentioned.
The split is 50.1/49.9 in favour of Lloyds

[Breelander]

I cannot find the details. The link is not working for me...

Somehow the link as posted was incomplete, the last three characters were missing. It ended with ".h" but should have ended with ".html".

https://www.londonstockexchange.com/exc ... 39366.html

[Dod101]

Thanks to both maximan and Breelander. So this is a gain for Schroders and a loss for Standard Life Aberdeen because these are the funds that Lloyds withdrew from Aberdeen following their merger with Standard Life. I trust Schroders, and I am looking at this solely from their point of view although it seems to make sense for Lloyds as well as it gives them an exposure to the investment expertise of Schroders and a share in the fees involved.

Dod

[monabri]

Link to earlier info on this from October 4th (2018):

viewtopic.php?f=15&t=14037

[miner1000]

So this is a gain for Schroders and a loss for Standard Life Aberdeen because these are the funds that Lloyds withdrew from Aberdeen following their merger with Standard Life.

I hold all three, LLOY, SLA and Schroders. So swings and roundabouts come to mind.

Miner