Question 1

Who are Lloyds Wealth?

Accepted Answer

Lloyds Wealth is a financial advice firm backed by UK banking giant Lloyds Banking Group.Lloyds Wealth offers holistic, financial planning services to UK customers on a restricted advice basis. We want to improve the way financial advice is offered, by making it simple, affordable and accessible to more people. For us, it’s about more than just financial advice. We believe that a good financial plan can give you and your loved one's peace of mind.

Question 2

What is Lloyds Wealth registered address?

Accepted Answer

Lloyds Wealth is our trading name, which is operated by Lloyds Wealth Management Limited. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 11722983. Authorised and regulated by the Financial Conduct Authority under number 830170.

Question 3

Will my investments be covered by the Financial Services Compensation Scheme (FSCS)?

Accepted Answer

Cash savings and investments are protected to the value of £120,000 and £85,000 respectively, per person per institution by the Financial Services Compensation Scheme (FSCS). However, the value of investments may fall as well as rise.More details can be found on the FSCS website

Question 4

Am I eligible to get advice from Lloyds Wealth?

Accepted Answer

To get advice from Lloyds Wealth, you’ll need to have: £100,000 in savings, investments and/or personal pension(s), and/or £100,000 of sole annual income.

Question 5

I am a financial adviser how do I find out more about working for Lloyds Wealth?

Accepted Answer

If you are a financial adviser interested in learning more about careers at Lloyds Wealth visit our careers page.

Question 6

What products and services do Lloyds Wealth offer?

Accepted Answer

Lloyds Wealth offers holistic, financial planning services to UK customers on a restricted advice basis. Our advisers can help you with protecting your family, investing and saving for retirement, the choices you make at and in retirement and also more specialist services such as how you pass on your wealth to your loved ones.

Question 7

Lloyds Wealth offers restricted advice. What does this mean?

Accepted Answer

Lloyds Wealth provides restricted advice which means that whilst we will advise on a broad range of client needs, the products that we advise to meet these needs are restricted to a range of providers. We are confident that our product range is comprehensive and suitable for our client needs and is drawn from leading providers and in-house expertise.

Question 8

What will I need to bring with me to the initial meeting?

Accepted Answer

When you meet with an adviser they will focus on getting to know your current financial situation and understanding your goals. To help with this they will ask you to bring some paperwork with you. They will explain this in detail ahead of your first meeting.

Question 9

Will I need to fill in any paperwork before the meeting?

Accepted Answer

No. There is nothing for you to fill in ahead of the initial meeting.

Question 10

Will I have to travel to meet my adviser?

Accepted Answer

No. Meetings are designed around your needs and you can meet with an adviser virtually or over the over the telephone.

Question 11

You say the initial consultation is free: how much will I have to pay for any subsequent meetings?

Accepted Answer

Your initial consultation, financial planning appointment and the presentation of your financial plan and recommendations are provided with no financial commitment from you.There are no hidden fees and charges. You'll only pay if you choose to go ahead with our recommendations from your personalised financial plan.Our advisers will explain the costs and charges of the products and services you choose before they’re incurred. You can then make an informed choice about which services you take.

Question 12

How long will my consultation last?

Accepted Answer

Your free initial consultation will last between 15 and 30 minutes.This is followed up with your financial planning appointment. We recommend you set aside about 90 minutes for this. If your situation is complex it might take longer than this for your adviser to capture all the information needed to prepare a comprehensive financial plan.Once your adviser has prepared your personalised financial plan, they will present their recommendations which will take around an hour.

Question 13

Can I call my adviser if I remember something that I forgot to tell them?

Accepted Answer

Absolutely. You can call or email them if you feel there is something you didn't cover in the consultation. Email is not a secure method of communication, so please do not include personal information in any emails you send to us.

Question 14

How often will I meet with my adviser?

Accepted Answer

Our Ongoing Advice Service includes an annual review which is an opportunity to update your adviser on any changes to your circumstances.They can then run through your plan to make sure it continues to meet your needs. But please feel free to phone us at any time if your circumstances change and you feel that you need to revise your financial plan.

Question 15

When do I settle the fees and charges?

Accepted Answer

Our advisers will explain all our fees and charges. It’s all straightforward. More details of our pricing can be found on our fees page.

Question 16

How can I access my financial plan once it has been developed?

Accepted Answer

You can view all your financial information, including your personalised plan, by logging into the Lloyds Wealth app.

Question 17

What happens if I need help with the Lloyds Wealth app?

Accepted Answer

You can find some answers to common issues, as well as contact details should you wish to speak to someone on our Lloyds Wealth app page.

Question 18

What is a risk profile?

Accepted Answer

The risk profile determines the investment approach for your portfolio in accordance with the level of risk you are able and willing to take.Our advisers will recommend your risk profile based on your understanding of your financial goals, needs, plans and appetite for risk. If you have a long time before you need to access your money you may be comfortable with a greater level of risk with your investments (for a higher potential reward) than if you might need to sell your investments in the near future.But being able to accept more risk is not the same as feeling comfortable taking that risk. This is where a discussion with an adviser is really important so they can help guide you to the most suitable risk profile.

Question 19

If I want to cancel my ongoing advice, can I?

Accepted Answer

Yes. It’s a monthly charge deducted from your account in arrears and you can cancel at any time.

Question 20

What is the Personal Discretionary Portfolio Service (PDPS) discretionary fund management fee?

Accepted Answer

Our Personal Discretionary Portfolio Service is an actively managed discretionary investment service where we make all the day-to-day decisions on your behalf. It offers you a number of choices depending on the level of risk you are comfortable taking.There is a discretionary fund management fee which reflects the management of your portfolio by our managers.

Question 21

Do your prices include VAT?

Accepted Answer

VAT is charged on products and services where applicable.The One-off Advice Service fee and Ongoing Advice Service fees do not incur VAT.

Question 22

What will my relationship with Lloyds Wealth advisers be like?

Accepted Answer

We offer both one-off advice and ongoing advice. If you choose to take on-off advice you will receive quarterly statements on your investments, and you will be able to contact a support team with any queries. If you opt for our Ongoing Advice Service you will have dedicated access to financial advisers who will support you on your journey and will be there to answer your questions.Fees and charges apply for our Ongoing Advice Service. Speak to one of our Personal Wealth Advisers for more information.

Question 23

Where are your advisers located?

Accepted Answer

We have a network of regional hubs located throughout England, Wales, Scotland, and Northern Ireland to provide you with the support you need.As part of our drive to make advice more accessible to more people we meet clients virtually or over the telephone. However, our local presence means that our advisers can meet with our clients face-to-face if needed.

Question 24

Are your advisers paid commission?

Accepted Answer

We're committed to your financial wellbeing so you can be assured that every recommendation is driven by your specific needs and goals, rather than financial gain for our advisers.All of our advisers are employed and are paid a salary with no commission earned from sales. Our advisers are remunerated for providing advice to new and existing clients and ensuring good client outcomes through meeting their needs.

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