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Distracted brokers?

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You may or may not be aware of how asset finance brokers make a living. Simply put we are paid a percentage of the clients service fee on a monthly basis. It works because the incentive is to find the best long term solution for the client.

Of course a broker should not need an incentive to do so. There should be no other criteria

The key to finding the right lender is not in how much they pay but how they will support your client. All lenders paid the same rate of commission. Until now

A significant lender is just about to double the commission rates paid. This is an exceptionally aggressive move in the market. and I do question whether they needed to go quite so high.

It will create a lot of turmoil but not at CPCM. However this also creates a difficulty.

When engaging with a client it has been a relatively simple process to explain that nearly every lender pays the same rate. Now I have to explain that one lender pays over the odds but also assure that it will not affect my recommendations. Tricky

Either way I know my own mind and will solely work hard for by far the most important partner in the arragement.

The client

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