The National Association of Commercial Finance Brokers (NACFB)
has made good on its promise to increase its engagement with
Britain’s leasing and asset finance brokers in 2009, announcing
plans for further high-profile discussion events after the success
of two round table meetings held in Manchester in February, and
London at the end of March.
The meetings, held between the NACFB board and more than 60
brokers, were aimed at setting out the concerns and issues
affecting the role of business introducers in the ongoing
recession, key among them being the continued blockade on
bank funding being experienced by many brokers.
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NACFB CEO Adam Tyler, commented: “We said at the outset that the
outcome of this and future meetings will form the Association’s
policy for the future – and this process is still in its very early
stages.”
He mentioned that topics under discussion included “the lack of
Tier 1 funders in the broker market; the issue of broker-to-broker
business; commission clawbacks; and the frequent changes to
lessors’ credit policies”.
“We also want to look at some lessors’ current volume-driven
business models. We would like to question the assumption that a
flight to quality can always be achieved by selecting brokers who
deliver quantity,” he added.
According to Tyler, the next step planned is for the NACFB to
act as an intermediary in an organized dialogue with funders – but
he made mention of oil tankers and turning circles when discussing
a possible timescale for results.
“The next stage will be more challenging, but we look forward to
speaking with Patron funders of the Association to see how we can
progress matters One of the key concerns for many leasing brokers
is simply the lack of funders in the market: they have plenty of
deals coming across their desks, but no-where to place them. We
want to ensure that funders look upon the NACFB logo as a badge of
quality and brokers who wear that badge are the ones they want to
do business with.”
Fred Crawley
