Former Brooks Macdonald investment director Daniel Minett has teamed up with platform P1 Investment Services to launch his own DFM-based wealth management firm.

The new firm, Five Horizons Wealth Management, will operate under the P1 umbrella and use P1's firm's regulatory, administrative and tech support framework.

Mr Minett is a former investment director at investment providers and wealth managers Brooks Macdonald and City Asset Management.

Most recently he worked as an investment director at City Asset Management and previously was deputy head at Brooks Macdonald’s Tunbridge Wells office. He worked for Brooks for nearly 10 years.

Five Horizons will initially launch with 5 risk-rated portfolios available as growth, income or responsible mandates.

The portfolios will be available on a number of advisory platforms and on P1’s platform.

Clients can access the models off-the-shelf or have a dedicated investment manager provide a bespoke service.

He said: “The starting point for setting up Five Horizons 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.

“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.”

P1 chief executive James Priday said: “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."

Five Horizons joins P1 alongside other investment managers operating their businesses under the P1 umbrella. These include Elston Portfolio Management, Corrival Capital Management and Pangea Impact Investments. A number of wealth managers and DFMs use the P1 Platform.