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OBSR founders launch fund ratings service

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OBSR founders Richard Romer-Lee and Nigel Whittingham are launching an investment consultancy and fund rating business.

Called Square Mile Investment Research and Consulting, the new business will also have former Henderson director David Pickles as a co-founder.

Romer-Lee says: “Market has moved on with changes and regulation. RDR has turned a lot of businesses on their heads.

”There would be no point in an OBSR mark two. There is a big trend going on about burden of risk and a rise in the onus of responsibility, so there is a market for this.”

With the business still in the planning stage, Romer-Lee hopes Square Mile Investment Research and Consulting will be operational by 2014.

He adds: “We are hoping to have some services – such as fund rating – up and running by the new year.”

“Parts of the business will be FCA regulated, that is subject to discussion. We are still in planning stage.”

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