Whilst the firm’s name suggests that we specialise in providing advice to the medical profession, the firm has always welcomed clients needing financial advice from both inside and outside the medical world.
In the early days of the firm one thing became abundantly clear – junior doctors do not have a great deal of time. This did not negate their need to give careful thought to their finances, especially those who had young families.
What medical professionals need, and indeed what people from outside the medical profession need and increasingly demand, is guidance through the complexities of their financial arrangements, delivered in a professional yet highly personal manner.
The principles and ethics that form the backbone of the firm apply to everyone equally and whilst the medical profession is at the core of how we began, we offer the same quality of service and integrity to every new client of the firm.
The foundation on which financial advice is based is one of trust and which requires clear, open communication.
Our philosophy has always been based on the fundamental belief that the best interests of the client are the most important consideration, as the client is at the heart of the advisory process.
MI & AS traces its roots to 1974 when the original two partners as Richmond Associates arrived at the view that medical practitioners, particularly junior doctors and housemen needed help with their finances.
As the firm developed, the partners established contacts with other professional firms focussed on the same niche market including Williamson West.
The associations continue to this day, to the mutual benefit of clients and the firms alike.
We advise people from all walks of life that find themselves requiring financial planning or advice, be that advice on NHS pensions, guidance on ever complicated pension regulations or a review of existing financial arrangements, to name but a few.
Due to the longevity of the firm, we now find ourselves advising 2nd and 3rd generations of some clients.
The concept of TCF was introduced by the regulator, the Financial Conduct Authority (FCA), with the purpose of delivering improved outcomes for retail consumers.
It has always been at the heart of our business and so required no change in the way in which we conduct business with our clients.
The advice we provide is based on the clients’ circumstances, requirements and approach to investment risk which is central to ensuring that it is appropriate.
This will ensure that in a discussion with the client, an explanation of all the options available is given and how the advice being recommended was reached and why.
Once an arrangement has been in place it will be reviewed and, if needed, changes to the arrangement made.