Hargreaves Lansdown unveils six-strong model portfolio service

Hargreaves Lansdown has launched six "ready-made" portfolios for non-advised investors, offering access to its £5bn multi-manager range for an ongoing fee below 2%.

The Portfolio + service, first announced in outline in the firm's interim results last month, offers investors options for either income or growth within three pre-determined risk levels. The service is available across four different types of accounts: ISA, SIPP, fund account or Junior ISA. For a minimum £1,000 investment, the service offers a "third way" of investing for those who want their investments managed but don't want to pay for regulated advice, Hargreaves spokesman Danny Cox said. The six portfolios, which are rebalanced back to their original weightings every six month...