Placing labels at a specific offset and rotation from point

[BillSands]

Hi,

I've made a symbol which creates a view cone, similar to that shown below (black line), which illustrates the location (point of the cone), the angle of rotation (red dashed line, not shown on the symbol), and the angle of view of the image at that location (driven from the point's data).

I now need to add a label to this point, driven by a field. I want the centre point of the label to sit on the blue dot (just shown for illustrative purposes). This will be a standard offset from the insertion point, and correspond to the rotation of the symbol.
I can't see any way of doing this in the standard label tools.

Can anyone point me in the right direction as to how I might achieve this?