Home > Uncategorized > The hidden benefits of a broker. But do they have these skills?

The hidden benefits of a broker. But do they have these skills?

In the interests of market research I have posed as a potential borrower to a number of brokers, both online or offline. The reactions are interesting to say the least and whilst I will not comment directly on the frightening shortcomings and frankly dubious misrepresentations of some, it is fair to say I have found a couple of brokers ( both in the north of England) who’s approach was first class

So what sets apart a committed professional broker from the rest? Here are a few thoughts

– The broker will ring fence the client and will work for the client and only the client. No returned “favours” or reciprocal arrangements. The client has given the broker his trust and the broker must ring fence the arrangement.

– The broker will make every effort to understand the business. It is essential that a strong interest is taken and the clients business and there is a desire and dare I say, relish to do so

– The broker will within reason, always try to meet the client

– The broker will explore the full market. That is over 40 lenders.

– The broker will understand the debtors. Better still, they will have the knowledge to negotiate on the strength and weaknesses of the debtors. In my opinion, this is vital

– If invoice financing is not the right solution then the broker will say so

– The clients needs are paramount. Also their future plans are crucial. This is not about the here and now but about years down the line

And so on and so forth.

Ultimately you want the best for you and your clients. To put it rather strict and slightly legalistic soundng terms, failure to comply with the above does not deliver the best solution

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