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

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

Having received clarity from the FCA around what constitutes advice and what the regulator accepts as guidance, the D2C platform today said it will be launching a new 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 on what we can do,...