Former Brooks Macdonald and City Asset Management investment director Daniel Minett has partnered with P1 Investment Solutions to launch a wealth management boutique.

The company, named Five Horizons Wealth Management, will combine DFM services with technology and operate under the P1 umbrella, using its regulatory, administrative and tech support framework, as well as P1's digital investment platform.

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Five Horizons will also launch five risk-rated portfolios, available as growth, income or responsible mandates. They will be accessible via several advisory platforms, as well as P1's own platform. Clients will be given the option to access the portfolios off-the-shelf or have a dedicated investment manager to receive a more bespoke service, the firm said.

Minett said the driving force behind the new company was to provide a "clear and simple proposition" with "transparent and competitive charges" and to communicate with clients in "plain English".

He continued: "Working with P1 allows us to launch as a nimble startup 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.

"The key question for any business setting up today is whether your technology will be fit for purpose in ten years' time. 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.

"The industry is changing quickly, and I am excited about where we can take this business over the next decade."

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James Priday, P1 CEO, added: "Dan setting up his business under the P1 umbrella is a natural fit for P1 and we are 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."

Alongside Five Horizons, the P1 umbrella includes Elston Portfolio Management, Corrival Capital Management and Pangea Impact Investments.