I think depending on which area she applies for, she'll have some form of interview and also a numerical test to test her skills with numbers. She'll probably be told what to expect though once she applies, so I wouldn't worry about having some unexpected test thrown at her.
I really can't help i'm afraid. I would say that your friend should apply if she is interested, googling will always help by bringing up information on the company etc should she get an interview. Other than that, I really don't know anything more, but good luck to her
Has anyone got any tips regarding the Schroders Interview? A friend is very interested in applying for this but she would like to find out more information before she does, so she knows what to expect.