Structured as a limited liability partnership, Mr Horrocks, who is managing partner of the firm, said he will be offering an online investment platform as well as face-to-face advice.
He said he already has agreements in place with more than 30 DFMs who will support the new RockWealth investment management proposition, including Brewin Dolphin, Brooks Macdonald, Rowan Dartington and Investec.
RockWealth’s clients will have access to more than 5000 investment funds and exchange-traded funds selected on the basis of track records and intensive ongoing research.
True Potential will provide its wealth management and back office technology to support the new business.
Mr Horrocks said: “The philosophy behind the launch of RockWealth is to provide a new form of online and offline financial advice service which delivers advanced advisory solutions, cost efficiently, to two distinct client groups: advisory wealth management clients and pure investment clients.
“Like most IFAs we will independently select the most appropriate products and services from across the whole of the market and we employ the highest calibre of discretionary fund managers to monitor all our clients’ investments.”
The firm will launch later this month, having secured FCA approval.
Mr Horrocks added: “What makes us different is that clients using RockWealth’s online service get access to all the benefits of full DFM with monthly portfolio rebalancing at a cost that is easily accessible to a more average investor”.
