Hargreaves Lansdown, a financial service company based in Bristol, has launched an investment service comprising six portfolios for non-advised investors.
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The range or portfolios, called Portfolio+, will offer investors options for either income or growth within three pre-determined risk levels.
The six portfolios, which has been constructed using Hargreaves’ multi manager funds, will be managed and rebalanced by the in house investment research team and provide access to its £5bn multi-manager range for an ongoing fee below 2%.
The service, available across four different types of accounts namely ISA, SIPP, fund account or Junior ISA, will present a "third way" of investing, for a minimum £1,000 investment, to those who want their investments managed but do not want to pay for regulated advice.
The portfolios, consisting of Adventurous Income, Balanced Income, Conservative Income, Adventurous Growth, Balanced Growth and Conservative Growth, will be rebalanced back to original weightings every six months, in February and August.
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By GlobalDataHargreaves communications head Danny Cox said: "Portfolio + offers a third way of investing for the growing throng of investors who want their investments managed for them, but don’t want to pay for financial advice. It will provide investors with a fully managed portfolio by taking three simple steps online."
