Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Caldecott spins out Dalton wealth business into new firm

Caldecott spins out Dalton wealth business into new firm

Rupert Caldecott and his colleague Neill Blanks have bought out the wealth management half of Dalton Strategic Partnership to form a new firm, RM Caldecott & Partners.

Caldecott (pictured) told Wealth Manager that the new firm ‘isn’t just a name change on paper, this is a genuine attempt to grow the private wealth business’.

The company will retain Dalton’s wealth clients and assets which Caldecott and Blanks have accrued in their 10 years at Dalton. Dalton will take a 19.9% stake in RM Caldecott.

The business will offer clients tailored individual portfolios with a global focus, costing 0.75% for those investing over £1 million and 1% for those investing under that figure. The firm also aims to cater for large clients and family offices.

Caldecott - who was a Wealth Manager Cover Star back in 2010 - and Blanks will be joined in the new venture by former Waverton Investment Management chief executive Hugh Grootenhuis, and Tom Chandos chair of the Thomson Foundation, who are both partners in the firm.

In addition to running private client portfolios, RM Caldecott will also offer access to the Melchior Global Conservative fund, which Caldecott and Blanks have managed for the
last five years.

This is the first time the fund has been marketed externally and over five years to the end of August it has returned 32.9%, beating the peer group average return of 27.5%. The fund has an annual management fee of 0.5%.

‘The fund has a very good track record – it’s the absolute return fund you never knew, as it were, but if you look at it, it’s remarkably consistent,’ Caldecott said.

The fund currently has £10 million in assets under management, but Caldecott believes it has a capacity of £100 million – £200 million.

Dalton chief executive Wenceslas von Liechtenstein said: ‘Dalton is delighted to be a sizeable investor in this new venture and actively supports the launch of RM Caldecott.

‘Dalton will continue to work closely with Rupert and his extended team in their new business, ensuring that clients continue to have access to our combined investment management expertise.’

RM Caldecott already has its Financial Conduct Authority authorisation and is regulated through Thornbridge Investment Management. 

Richard Jones, head of distribution at Dalton, added: ‘The buy-out of the private client business from Dalton represents a change, not a break.’

He noted Nick Mottram, Dalton’s head of global equities, will sit on RM Caldecott’s investment committee.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Rupert Caldecott
Rupert Caldecott
20/70 in Mixed Assets - Conservative GBP (Performance over 3 years) Average Total Return: 17.26%
Citywire TV
2 Comments Play Liam Halligan: the eurozone is about to implode

Liam Halligan: the eurozone is about to implode

The economist and broadcaster told the Citywire Private Office Retreat he believes a potential implosion of the eurozone is the biggest threat markets face today.

1 Comment Play James Anderson: my great fear and hope for the next 10 years

James Anderson: my great fear and hope for the next 10 years

Co-manager of Scottish Mortgage Trust says the financial world has not changed since the banking crisis but predicts the next decade will bring unprecedented upheaval in all areas of the market.

1 Comment Play What wealth managers told clients the day Lehmans went bust

What wealth managers told clients the day Lehmans went bust

We asked wealth managers to go back in time at Citywire North as the 10-year anniversary of the Lehmans collapse approached.

Read More
Your Business: Cover Star Club

Profile: UBS' new UK boss on her plans to win wealth

Profile: UBS' new UK boss on her plans to win wealth

UBS’s wealth arm might be the fourth biggest in the UK, but it still has only 4% of the market share, says incoming boss Eva Lindholm

Wealth Manager on Twitter