I’m finding it difficult to decide whether the new Schroders Personal Wealth Financial Planning business announced this week, a joint venture between fund manager Schroders and Lloyds Bank, will augur well for the Financial Planning profession.

Economic uncertainty caused people to cut back on spending by an average of £125 a month in 2018, a new survey has revealed.

Despite concerns about the UK’s finances, 66% of consumers say they are confident about their own personal finances.

Lloyds Bank has revealed plans to target the Financial Planning and pensions markets and is aiming for 1m new customers by 2020.