Thomson's, the UK arm of European IFA AWD is signing a deal with MIA General Insurance to target medical and dental professionals for financial planning advice.
The deal will allow MIA and Thomson's IFA offer each other's products to their medical professional customers. Thomson's will provide specialist advice and products such as investment strategies, portfolio management, tax, trust and estate planning, retirement planning, savings, protection, long-term care and mortgages.
Thomson's already offers a financial planning service to members of the Dentists and General Mutual Benefits Society and intends to recruit or train another 30-40 specialist advisers in the next two years to specialise in this area.
MIA offers products specifically for medical and dental professionals including professional indemnity cover.
Thomson's has worked in the professional connections market offering specialist services to solicitors and accountants since 1969. Its existing partnerships operate through a number of different channels including individual referrals, on-site advice surgeries, a permanent on-site adviser and a joint venture company. Thomson's chooses the process to adopt for the level of demand and practice size.
Thomson's Wealth Management managing director Eric Stables says: “People working in the medical and dental industries often have very specific and specialist tax and pensions arrangements. Thomson's has a number of advisers across the UK who are specialists in this field.”
MIA general insurance managing director Nick Sharp says: “Feedback from existing MIA customers confirmed there was a need in this area, and they will benefit from independent financial planning frame the leading specialists.”