9 Key relationships every asset finance broker should be exploiting
Referral partnership can be the key to sustainable business growth.
Building your asset finance business is challenging. It requires commitment, determination, and sound strategy to excel and rise to the top of the industry.
March 10, 2022
4 min read
We all know, developing a consistent flow of quality asset finance leads is paramount to being a successful broker. Having key support relationships is equally important. In other words, building quality referral and support relationships can be one key strategy to rocket your business upwards.
We’ve created our top referral partnerships below, however, although not in this list, your Aggregator and Lender BDM’s are a valuable support partnership not to be forgotten. By all means, building these relationships wisely and tightly will support the growth of your team and business.
Here’s our Top 9 key relationships every finance professional should be exploiting right now!
Accountants & Bookkeepers
Start with your own Accountant or bookkeeper. Set up a reciprocal relationship to leverage your expertise for their clients and their expertise and advice for your clients. In detail, your accountant or bookkeeper is a trusted expert and these referrals come with a commitment – the customer does not want to let their accountant down or damage their relationship. Now you can transfer that trust to your relationship with them.
Medium or Large Enterprises’ Procurement Department
Securing relationships with larger companies’ procurement teams can provide an abundance of referral opportunities both at company level as well as at staff level. Unexpectedly, they can provide asset finance opportunities.
Warehousing Businesses
These are a rich source for yellow-goods finance opportunities such as fork-lifts, hoists, stacking equipment and even company and delivery vehicles. Not to mention, there may also be other referral opportunities across these companies if you look closely, depending on the industry.
Trucking Companies & Auctioneers
These partnerships are often very effective but require a very tight and trusted relationship. The purchases are usually high value and require an expert asset finance professional to facilitate the transactions smoothly.
Building quality referral and support relationships can be one key strategy to rocket your business upwards.
Building quality referral and support relationships can be one key strategy to rocket your business upwards.
Fleet Vehicle Opportunities
Many service industry companies provide fleet vehicles for their staff. In many cases, they also require large amounts of equipment or IT hardware which often needs to be financed by a fleet finance specialist.
Local Medical Professionals
These professionals often require specialist equipment amongst other financing opportunities. These can be a solid source of referral opportunities.
Retail & Hospitality Businesses
These partnerships can be veryfruitful as there are many financing opportunities to keep a keen eye on, such as: white goods, shop fit outs, vehicles, small goods, signage, and other industrial equipment.
Marketing Specialists
Having a good marketing specialist will enable you to capture these leads digitally. Leads can be targeted and nurtured carefully to ensure you always have a good flow of motivated customers and partnerships. There are many agencies who can assist you with digital strategies such as Cocalex Consulting.
Specialist Lenders
Partnering with lenders like Thornmoney will ensure you are always on the front foot when it comes to access the latest finance solutions. Modern innovation and enhancements to technology allows you to gain fast assessment and settlement to delight your customers from start to finish.
funding solutions tailored to your clients
Thornmoney provides simplified cashflow solutions to help with the pains of business expansion.
If your clients are upgrading their fleet or business equipment, our asset finance products might be their answer. Moreover, our loans are available with tailored rates for your client and various payment terms up to 5 years.
Our business line of credit (also known as invoice finance) solutions allows your clients to turn unpaid invoices into fast funds within 24 hours since approval. With no lock-in contract, it is as simple as connecting their accounting software with our platform.
If you’re a broker who deals with small businesses, connect with our BDMs to learn more about how our innovative cashflow solutions can help you to create a complete financial strategy for your SME clients above and beyond just providing their primary home loan or commercial loan. Our BDMs are always happy to guide you through client scenarios and educate you on the latest cashflow solutions to meet your clients’ needs.
Contact us today to know more!
Disclaimer: This information is for general information purposes only. Therefore, the information contained herein does not constitute financial or professional advice or a recommendation. Ultimately, it has not been prepared with reference to your financial circumstances or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice as to whether or not this information is appropriate for you.