Schroders Personal Wealth, the joint financial planning business of Schroders and Lloyds, has established 11 UK regional offices.

The offices will be located in Birmingham, Bristol, Cambridge, Cardiff, Edinburgh, Exeter, Guildford, Manchester, Leeds, London as well as Oxford.

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The new facilities will serve as semi-autonomous adviser businesses within the Schroders Personal Wealth network.

A regional director will be in charge of each of the offices.

The director will choose the team for the hub and will also manage revenue generation.

Schroders CEO Peter Hetherington said: “This is another important milestone for Schroders Personal Wealth. This group of new leaders will be pivotal in driving the success of the business going forward, both at the regional and group level.”

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“This new structure ensures we can continue to put our clients’ needs first. It allows clients to get a more personal and local experience, developing strong relationships with advisers and support within the hubs,” Hetherington added.

Schroders Personal Wealth was launched last year.

Lloyds has a 50.1% ownership in the business, with Schroders holding the remaining stake.

Notably, Schroders recently completed the migration of £75bn worth of mandates from Scottish Widows and parent Lloyds.

The move includes the transfer of around 320 portfolios including active equity, equity alpha, equity low risk active, fixed income, multi manager, multi asset, portfolio solutions, private equity and property funds.