Schroders Personal Wealth (SPW) – the wealth joint venture between Lloyds and Schroders – has onboarded more than £5 billion in client assets since its launch a year ago, and says this will double by the end of the year.

These assets under management (AUM) mostly relate to those that are being transferred over from Lloyds’ existing wealth management business as part of the launch.

On launch, SPW cited its ambition to be among the top three largest financial planning businesses in the UK within five years.

Marcus Brookes, chief investment officer, said the team of 500 brought over from Lloyds had grown t...