Hargreaves Lansdown Fund Management is to bring out a wealth management service at the start of Marc...
Hargreaves Lansdown Fund Management is to bring out a wealth management service at the start of March, targeting IFAs, writes Fiona Henderson.
Those in the service will be able to invest in a Hargreaves Lansdown unit trust which buys into funds from investment boutiques and a fund of hedge funds.
Clients will also be able to gain exposure to a full range of other investments.
The service is aimed at high-net-worth individuals, the minimum premium being £150,000, said Spike Hughes, managing director at Hargreaves Lansdown Fund Management.
"Initially, the service will be directed at existing Hargreaves Lansdown clients. It won't be actively promoted to IFAs for another three months," he said.
For those investors with £5m to subscribe, Hargreaves Lansdown will create a private family unit trust, he said.
Hughes added: "There will be two sides to the service, a discretionary investment proposition and tax shelter selection. We will create specific risk strategies from different types of investment, including direct equities and multi-manager strategies, outsourced to SEI Investments. We believe SEI is the best manager of tightly controlled portfolios."
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till