Tim Horrocks has established Cheltenham-based RockWealth LLP to offer both face-to-face financial planning and wealth management as well as online model portfolios, having received regulatory approval in February.
The firm’s platform, provided by True Potential, gives investors a choice of five risk rated portfolios, as well as a moderate-risk ethical portfolio, which are all run by RockWealth’s selection of outsourced discretionary fund managers.
Mr Horrocks said that a portfolio rebalancing fee of £250 made the service suitable for “more average” investors who would otherwise find it difficult to access such services.
He added: “Our investment clients can be secure knowing that the risk of their chosen portfolio will be carefully managed with regular rebalancing. We are not offering a fund supermarket or pure DIY option.
“Overall, we think the client will achieve better results with less volatility for a given risk without the headache of making investment decisions in what is a difficult economic climate.
BACKGROUND
Discretionary fund managers who are currently on RockWealth’s books include Brewin Dolphin, Brooks Macdonald, Rowan Dartington, Quilter Cheviot and Investec.
Mr Horrocks also outlined costs for face-to-face sessions at the advisory firm, starting from £75 for an hour with a member of support staff right up to £225 an hour with one of the firm’s senior partners.
The firm has so far accumulated £10m in funds under management on behalf of 100 clients.
