Our heritage makes us who we are today

by Laurence O’Connor

Whilst many of our competitors seek to use new developments in technology to remove face to face interaction with clients, we remain committed to the delivery of a traditional comprehensive service at a comparable cost to online or streamlined alternatives.

In 1971 my Father, Michael O’Connor, was the financial controller at Associated Co-Operatives Creameries looking after the milk supply to the North East of England. Whilst trying to organise the insurance renewal for the group in 1971 he became increasingly frustrated that despite paying a hefty £10,000 in insurance premium (£140,000 in todays money) the insurance broker would not visit him to go through the renewal in detail and answer his queries.

Resourceful as ever Michael took the paperwork home and spent hours working everything out himself, it was at this moment Financial Affairs was born. In 1972 He left accountancy behind, with a vision of establishing a brokerage that would allow face to face access to insurance expertise that organisations of this size could not justify retaining in house. At the time there was no name for this type of practice but since the 1980s it has commonly become known as outsourcing.

It is testament to Michael’s vision and business model that these same principles, evolved to include Financial Planning and Personal Insurance services, still form the basis of our client service proposition today.

The name Financial Affairs encompassed all aspects of what Michaels vision was, he didn’t want just another O’Connor & Partners name that didn’t mean anything he wanted something that showed his commitment to providing a full range of services and looking after all a clients Financial Affairs.

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