Schroders is assessing potential options for Benchmark Capital, including a sale of the financial planning group, after receiving interest from private equity firms, according to people familiar with the matter cited by Reuters.

The FTSE-listed asset manager has hired Perella Weinberg Partners to advise on the review. Benchmark, which oversees £37.1bn in assets, focuses on the mass affluent segment and provides financial planning services to more than 1,000 adviser clients. Discussions remain at an early stage and may not result in a deal.

The move comes as Schroders expands its wealth management franchise under CEO Richard Oldfield, with a sharper focus on more affluent clients through its Cazenove division. The firm recently exited its mass affluent joint venture with Lloyds Banking Group by swapping its 49.9% stake for Lloyds’ 19.1% position in Cazenove.

Analysts have previously suggested that Benchmark is less profitable than Cazenove, though Schroders maintains the business has strong growth prospects. A spokesperson reiterated that the group does not comment on market speculation, adding that Benchmark plans to accelerate expansion in 2026 and beyond.

Private equity firms are examining the opportunity as wealth management platforms attract fresh capital. Schroders may also decide to retain Benchmark and support its next phase of growth.

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