Home > Uncategorized > Am I being churlish?

Am I being churlish?

Today a good friend asked for advice on behalf of a friend of his. I was asked “what were X like” (in the invoice financing market).

Im always happy to assist but I had to ask, who wanted to know and why? The answer is that they were a “mortgage broker” who “did invoice financing”. My response was brief and to the point.

The fact is you cannot simply dabble in invoice financing. There are too many variables and too many options to not give the market your full attention. That means daily conversations with lenders and many many meetings. What was also shocking about the question is that the lender was very high profile and should be very familiar

This broker is simply cheating his clients if he is not fully aware of all the market options

His lack of knowledge of this lender was disturbing enough but to have not even framed the question around a specific (i.e., are they good at export? are they happy with high concentrations ? etc etc) is a giveaway. He is clueless.

Personally I thoroughly enjoy exploring and keeping up to date with the market but it is  certainly close to being a full time role.

“Brokers” such as this give the industry as bad name. The wrong deal brokered by someone with the knowledge experience and dedication to endsure that all angles are covered, can be extremely dangerous for the client

Having said that it is up to the clients or their referers to ensure that the right broker is appointed.

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