A rival to Nutmeg? Under the bonnet of Hargreaves' D2C discretionary service

A rival to Nutmeg? Under the bonnet of Hargreaves' direct discretionary service

clock

Hargreaves Lansdown is taking aim at the low-end direct-to-consumer (D2C) discretionary market after announcing plans to unveil a portfolio management service in 2015 with a minimum investment below £10,000.

Having received clarity from the Financial Conduct Authority (FCA) around what constitutes advice and what the regulator accepts as guidance, the D2C platform said it will be launching ready-made investment portfolios for clients which it manages on their behalf. The group already runs a full discretionary proposition for clients with over £150,000 but the new offering would be aimed at the vast majority of clients who hold less than this amount, and focus purely on the investment side without providing additional advice on other financial affairs. "We've now got clarity from the FCA ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read
Aviva named the preferred platform provider by advisers

Aviva named the preferred platform provider by advisers

Quilter remains in second place followed by AJ Bell and Transact

Isabel Baxter
clock 04 March 2024 • 1 min read