Lloyds-Schroders venture hit by tech problems

The launch of a £13bn wealth management joint venture between Lloyds Banking Group and Schroders has been hit by widespread tech issues. Schroders Personal Wealth was made available to a small number of customers earlier this year and has been billed as a key part of the two FTSE 100 groups' efforts to increase growth at a time of limited opportunity. The Financial Times reported  that the human resources team at Schroders Personal Wealth had to apologise to staff after a survey revealed concerns about its platform. An internal note dated August 19 and seen by the FT said: "Many of...