RBC Direct Investing, a discount broker and a wholly owned subsidiary of Royal Bank of Canada, has launched Model Portfolios, a new feature which allows investors to create a personal investment portfolio that suits their risk profile.

RBC Direct has said that the new Model Portfolios feature enables investors to choose among pre-selected investment portfolios offering a range of conservative to aggressive growth solutions.

The risk profiles and asset allocations follow strategies prepared by the wealth management advisor, RBC Asset Management. Product solutions are selected by advisors at RBC Asset Management, the RBC Mutual Fund Research Team and RBC Dominion Securities.

Funds used to build the model portfolios include funds from RBC Asset Management and Phillips, Hager & North. Investors can also include funds from other third-party mutual fund companies such as CI Investments, Fidelity Investments, Franklin Templeton Investments and Invesco Trimark Investments.

The Model Portfolios include series D versions of RBC Funds, where possible. Series D is a new RBC mutual fund purchase option reportedly with lower management expense ratios designed for the self-directed investor and available to RBC Direct Investing clients.

RBC Direct Investing will also be offering exchange traded funds (ETF) Model Portfolios prepared by the RBC Dominion Securities Portfolio Advisory Group later in 2008.