Portfolio + as it is called has been constructed using Hargreaves’ multi manager funds. The six portfolios will be managed and rebalanced by the in house investment research team.
The ‘third way’ as Hargreaves sees it means providing a fully-built portfolio but without the investor receiving advice from a wealth manager or IFA.
The offering is available to the whole market, with a minimum investment of just £1000 required.
Suitability will be established by Hargreaves itself based on ‘three simple questions’. Applicants will be asked whether they want growth or income, whether their risk appetite is conservative, balanced or adventurous and if they want an ISA, SIPP or fund account.
The portfolios will be rebalanced back to original weightings every six months, in February and August.
The fees are 0.45% plus from 1.34% to 1.46% depending on which of the six portfolios is selected.
“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,” said Hargreaves communications head Danny Cox.
