Schroders expects net new business to increase by 5-7% of opening assets under management per year and anticipates further growth ahead in the three arms of its wealth management division.
Ahead of a capital market day in London, Schroders Wealth Management said its assets under management grew 3.7% in the four months to 30 April from £111.4bn at the end of last year.
See also: M&G Wealth platform sales director joins Schroders
In a stock exchange announcement, Schroders said its affiliate Cazenove Capital and International will “continue to leverage its differentiated position in the ultra/high-net-worth bracket” through the launch of new regional offices.
Cazenove recently unveiled a regional hub in Bristol, following the opening of offices in Birmingham and Manchester. The firm’s CEO, Mary-Anne Daly, was named global head of Schroders Wealth Management in May.
Schroders said its personal wealth division is “poised for strong growth in the affluent bracket, following the actions taken to transform the business”.
Meanwhile, the firm’s advice arm Benchmark is growing its share of the UK adviser market through its technology platform and proposition for advisers, Schroders said.
