brokers are leaving money on the table

Brokers are missing out on revenue by not fully investigating their clients’ business financial needs.

  • November 6, 2021
  • 4 min read
  • Thornmoney

  • November 6, 2021
  • 4 min read
  • Thornmoney

many brokers are missing out on easy revenue

We spoke with one of thornmoney BDMs, Aris Lockhart to get his perspective, on the ground.

There is a truth that many brokers know about and even have access to a range of business finance solutions nowadays. However, most aren’t going into detail and confidently discovering the clients’ full financial needs. Sometimes, your clients, beyond the main application for their mortgage or commercial loan, might need a more efficient finance option.

“Those brokers who are firmly adding products such as Debtor finance and Invoice financing into their product suite, and needs analysis, are creating a new realm of passive style income for their business,” Aris said. 

One broker who does this well is Peter Nikolaou from Peak Capital. Primarily, as a commercial finance broker, Peter seized the opportunity to ensure his clients can access all the funding solutions they need, in one place. 

“A common time I would use these facilities is when my client has already reached their property lending limits. The clients’ invoices are another asset within the balance sheet, my clients can utilise to easily top up their cashflow needs.” Mr Nikolaou, said. “Generally, all I need to check is which accounting software they’re connected to and confirm they are invoicing upon completion of the sale or service.” 

why does this happen?

One of the reasons why many brokers are not extending their product suite is a lack of awareness and understanding. Business finance solutions have taken a huge leap forward in recent years. Consequently, this enables mortgage brokers to easily assess and provide more solutions to their clients. 

Our products require almost no work on the broker’s part, except for asking a few questions to reveal how you can further assist your client to grow their business. Besides, our products now use cutting-edge technology to take the pain out of the client signup, and a broker referral. 

Your clients can quickly and easily connect our thornmoney platform to their accounting software. The platform enables them to access funds to grow their business in as little as 24 to 48 hours, once connected. This means you get paid quicker too! Gone are the times, as a finance broker, waiting for days to receive a scenario answer, only to miss the deal and waste valuable time.

thornmoney’s solution

Thornmoney has four accessible BDM’s to support brokers to learn about our products and answer any questions. Aris, Jerome Boadu and Andy Cusworth support the NSW, ACT, QLD, & NT regions, whilst Chris McCall and Gail Worsley look after TAS, SA, VIC & WA brokers.

“As a thornmoney BDM, I spend most of my time speaking to brokers and simply connecting them to our digital solutions hub. Once my brokers find out how easy it is, they can’t wait to just get started. It’s one of the easiest ways to grow your business revenue. I mean, if you’re already dealing with business owners or want to break into this sector fast.” Aris added.

Aris concludes “Many of my brokers have scaled their business using this low-touch product. Some are simply contacting their existing clients and writing new business every week, easily. There’s not much else for you to do, really!”

Thornmoney offers flexible invoice finance solutions, allowing your clients to access fast business funds when they need them. The signup is paperless and connects directly to their preferred accounting software, so it’s quick and easy. Best of all, there are no monthly fees, and the client only pays for what they use.

Find out more details about the thornmoney simplified business funding solutions, and connect with your allocated Business Development Manager.

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