The present invention provides an EMI shielding device including a flame retarding, thermal interface material composite with a through plane thermal conductivity of no less than 30 W/mK and a dielectric withstanding voltage of no less than 1 kV/mm, where the composite includes at least one dielectric layer of self-aligned, carbon-based materials associated with superparamagnetic particles and at least one layer of fillers including a blend of dielectric heat transfer materials with a thermal or UV curable polymer or phase change polymer. The anisotropic heat transfer carbon-based materials associated with superparamagnetic materials are aligned under a low magnetic field strength of less than 1 Tesla to an orientation that results in a high thermal conductivity direction which can conduct the maximum heat from the adjacent device of the present composite. The present invention also provides a method for preparing the composite.