Former Rathbones investment director James Maltin is returning to the wealth management industry with the launch of a boutique.
Called Ridgeway Investment Management, the business will be based in Aldbourne, Wiltshire and go live on 1 October under the Raymond James umbrella.
Maltin left Rathbones after an 11-year spell where he managed private client portfolios. Prior to that he worked at HSBC Investment Bank heading up the investment trust committee.
The new business will be 'investment led', Maltin (pictured) told Wealth Manager, with portfolios tailored to meet the requirements of specific clients across the risk spectrum.
He will mainly invest in direct equities but will also include some funds when appropriate.
Maltin told Wealth Manager that a portion of the boutique's profits will go to the Ridgeway Foundation to support smaller charities and people in less privileged positions in society.
'The idea behind embedding philanthrophy into the company is that thereby we serve not only our clients and shareholders but also the broader community, increasing our sense of purpose and enhancing the meaning of our work,' he said.
While the details of the charging structure are still being finalised, the service is expected to have a 1% management fee.
He added: 'Supported by Raymond James, I am confident that Ridgeway Investment Management will bring a valuable offering to the marketplace. As a small business we will be nimble enough to exploit market inefficiencies, whilst at the same time offer clients the security of being supported by a global financial organisation.
'The plan is to grow the business steadily over the coming years. We care far more about the investment results we deliver, than the number of client accounts we manage. Our focus is to look beyond quarterly performance and short term trends, and to maintain a strict investment discipline that looks to deliver excellent investment results over the long term.'
Cynthia Poole, director of relationship management and business support, commented: 'We are delighted to be supporting James given his excellent reputation and plans for his new practice. We intend to offer all the practical solutions that the new branch requires so that James can concentrate on delivering excellent investment results for his clients.'