Daniel Minett, who was previously Brooks Macdonald’s Tunbridge Wells deputy head, is launching a wealth management firm called Five Horizons.
The company, which will offer DFM client services through a digital-only investment platform, will be housed under the umbrella of P1 Investment Services. The discretionary investment manager will provide Five Horizons with a regulatory, administrative and tech support framework, as well as its platform.
Minett’s company will launch five risk-rated portfolios for clients, which will span growth, income and responsible objectives. As well as being available on P1’s digital-only platform, it will also be available across “several other” platforms, according to the firm.
Five Horizons will join Elston Portfolio Management, Corrival Capital Management and Pangea Impact Investments at P1.
Minett, who was also previously an investment director at City Asset Management, said the first step to setting up his new venture was to “consider what clients and advisers want”.
“They want good performance. Obviously. It’s a given. But what else? They want a clear and simple proposition, to be communicated with in plain English, to benefit from transparent and competitive charges, and to experience an effortless investment journey,” he explained.
“Once I met P1’s CEO, James Priday, and understood their structure and shared values, I realised we could achieve this from launch.
“Working with P1 allows us to launch as a nimble start up but with the support and resources of a larger firm. In addition to giving our clients access to a market leading platform, we can also plug in to P1’s investment resources and ethical investment pedigree.”
Minett added that the key consideration for any new business is whether its technology will remain relevant and appropriate over the long term.
“Everything I have seen about P1 and the progress they have made on their platform gives us comfort that we are partnering with the right company,” he said.
“The industry is changing quickly, and I am excited about where we can take this business over the next decade.”
P1 chief executive James Priday added: “Dan setting up his business under the P1 umbrella is a natural fit for P1 and we’re excited to have Five Horizons Wealth Management onboard.
“Dan understands the importance of embracing technology to reduce costs and provide better services to advisers and clients.”
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