This qualitative study explores perspectives of 29 physician mentors on mentoring medical students in a well‐respected medical school’s formal, assigned, longitudinal mentoring program that has a curricular component in the second year. Using a phenomenologic inductive approach, common themes identified centered on mentors’ relationships with their students and the characteristics of the relationships. The researchers indicate the importance of the curricular component for providing a purpose and structure for relationship development and in facilitating relationship development in this assigned mentoring program.