Why you should consider getting financial advice
Doctors’ finances are complicated. Traditional financial advice can fall short of the expertise that you need as a medic. Our financial advice partner, Fidelius Medical, understands these complications. They take time to get to know your circumstances and find solutions with you, and through
honest conversations, they’ll work
with you to reach your goals.
Get independent financial advice
I'm incredibly busy and don't have the bandwidth to think about my finances! I need an expert I can delegate to.
How can I improve my work-life balance without compromising my family's financial future?
I'd like to be able to retire early and cut down my hours before then. How does this impact my pension?
Services
Fidelius Medical is completely independent, chartered, and can access the whole of the market, giving you peace of mind. They can tailor solutions to your needs on topics like:
Pensions and leave
- private and NHS pensions
- planning your retirement
- adjusting your work-life balance
- the McCloud remedy and its impact on retirement planning (applicable under the cost claim back scheme. The NHS Cost Claim Back Scheme is for members affected by the Public Service Pensions Remedy)
- annual allowance and the impact of scheme pays.
Mortgages
- first-time buyers — even in challenging circumstances like changing employment
- buy-to-let mortgages
- commercial mortgages.
Savings, investments, and planning
- financial planning and projections (simple or bespoke)
- savings options
- investment portfolios.
Protection
- life and critical illness cover
- income protection.
Legacy planning
- inheritance tax issues
- tax planning.
Get independent financial advice
Evolve
Making financial advice relevant to all doctors
Fidelius Medical recognises that the need for financial advice will be different depending on your circumstances. Just starting out in your career, for example, you may have less complicated financial needs, or concerns about the cost of expert advice. Being proactive now to secure your financial future offers numerous advantages, so they also offer Evolve, a more cost-effective option that concentrates on earlier life stages. You receive a personalised Evolve recommendations report, tailored to your situation, regarding:
- protecting yourself and your family against the impact of incapacity or death (eg term assurance, critical illness, life cover, income protection)
- investments including cash, and stocks and shares ISAs
- retirement planning
- mortgages.
Even at the beginning of your career, understanding your finances and having a solid financial plan can make a significant impact on your future wealth. It’s never too early to plan for the life you want.
It is important to note Evolve does not cover advice on the NHS Pension Scheme.
- Book a free phone or video call with a financial adviser by selecting ‘Evolve’ on the contact form. This call will assess your needs and inform you of any fees for advice if you would like to proceed
- If the service is right for you and you’d like to go ahead, your adviser will research the market, and you will receive a recommendations report with measurable and specific objectives tailored to your circumstances and a follow-up call with your adviser
- Choose whether you’d like to purchase any of the personalised product recommendations, and whether you would like ongoing advice
- Your adviser will get in touch to see if your product choices are still the best options for you a year later if you have signed up to the ongoing annual review service.
Why choose Fidelius Medical
We are proud to call Fidelius Medical our trusted independent financial partner because of their dedication to delivering outstanding award-winning service.
The BMA offers support and guidance on a wide variety of financial issues affecting doctors including pensions and tax, provided by our expert staff, in addition to our lobbying activity on related government policies. This support includes guidance and tools on our website and information provided by our specialist teams.
As the BMA is not regulated to provide financial advice, we have a partnership with Fidelius Medical, who specialise in independent financial advice to the medical profession.
Although we do encourage our members to seek independent financial advice to ensure they are fully informed before making any decisions on their finances, BMA members are under no obligation to use the services of Fidelius Medical.
Members need to be sure that the services provided by Fidelius Medical, or any other financial adviser, meet their specific needs.
As part of our agreement, BMA members receive a complimentary initial consultation with Fidelius Medical before taking up their services, for which there is no charge. Fidelius Medical also arrange a number of complimentary events for members across the UK.
The BMA receives a percentage of any paid for financial advice that members receive from Fidelius Medical. This does not impact on the charges set by Fidelius Medical, and all income received from the BMA is reinvested into our member services.