Independent broking or not?
Below is an extract form a website called the Independent Factoring Brokers association. Im afraid to say that they are abolsutely right and it has to be said that any “broker” of a financial product putting themselves up as independent in the face of consumers, when it is obvious they are not, would surely have the FSA crawling all over them.
So why is this permittable in B2B circles?
No idea, but another fault with these sites is that the relationship element is removed. Believe me, when you are in one of these deals and there is what might be refered to as ” an issue” , you need to trust, like and know the people you are dealing with. That is the first thing I look for when broking on behalf of a client
Factoring and invoice discounting has seen phenomenal growth this decade and on the back of this growth has come a sharp rise in the number of brokers – all claiming to offer their independent advice and expertise to find customers the best deal.
Unfortunately the reality is very far from the truth as the popularity of the internet has seen a surge in internet only based “brokers” who in reality are little more than clever website designers attracting leads from interested parties to pass onto a third party for a fee, whilst many of the rest are anything but independent.
The unsuspecting customer may expect to be receiving unbiased advice from an experienced broker but that is seldom the case as many of the high profile factoring brokers are anything but independent and unbiased.
