Bristol-based Hargreaves Lansdown plans to launch actively managed portfolios for direct clients in the first half of 2015, head of financial planning Danny Cox has said.
Mr Cox said this was “to meet the demand from DIY clients looking for ready-made actively managed investment portfolios without financial advice”.
The portfolios will invest in active funds and be managed and rebalanced by the Hargreaves Lansdown investment research team, headed by Mark Dampier.
Mr Cox added that clients would be able to choose growth or income and growth portfolios with varying degrees of risk, that there would be no initial charges and that total ongoing charges would be less than 2 per cent.
He said the minimum investment was expected to be no more than £10,000.
Mr Cox said this was “to meet the demand from DIY clients looking for ready-made, actively managed investment portfolios without financial advice”.
The portfolios will invest in active funds and be managed and rebalanced by Hargreaves Lansdown’s investment research team, headed by Mark Dampier.
Mr Cox said clients would be able to choose growth or income and growth portfolios with varying risk, there would be no initial charges and ongoing charges would be under 2 per cent.
He said the minimum investment was expected to be no more than £10,000.
Adviser view
Lawrence Cook, director of marketing and business development for Sussex-based Thesis Asset Management, said: “If the 2m-plus people on Hargreaves Lansdown’s mailing list get bombarded with positive messages about discretionary services, it will certainly heighten the investing public’s awareness.
“While some will buy from Hargreaves Lansdown, others will shop around, which will benefit the market as a whole.”
