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5 Top Tips to Find the Ideal Finance Specialist


So, you have decided to set up a small business operation or a professional practice. You have worked through your business plan, applied for the relevant licences and put the word out. The only hitch is that you do not have access to sufficient levels of finance to bring your dreams to life. While banks are the first stop for most people seeking a commercial loan, they are not always the best option. In fact, they may frequently be the worst.

On the other hand, approaching a specialist finance firm or finance broker is a smart way to acquire affordable, flexible loans, with much quicker approval rates. If your heart is set on pushing forward with your new business – or an asset acquisition of some kind, contacting a finance broker might be the best idea. While finance brokers are generally a better option than conventional lenders such as banks, not all are created equal, so it is important that you make your choice carefully. Here are five important factors to consider.

Membership of Regulatory Bodies

It is very easy to get your fingers burnt in the world of finance. Poorly regulated finance brokers, lenders and other industry players have a tendency to engage in unscrupulous business practices, which lead to clients such as yourself losing money at the end of the day. In the UK, the appropriate regulator for finance firms is the Financial Conduct Authority (FCA).


Some finance specialists and brokers have secret links to the lenders they source from. The risk with using these types of firms is that they tend to put their interests and those of the lender ahead of yours, which may mean that you get the worst possible deal. The best finance specialists are those who are completely neutral, and put the interests of the client first.


In the heavily competitive world of finance, survival implies that a firm has a track record of success. When sifting through competitors, while there may be some decent firms with a shorter history, it is not recommended that you take any chances with your financial future, especially when you have so much riding on your success.


A firm’s willingness to show transparency goes a long way in the world of finance. Is the firm open about who its owners and directors are, as well as its pricing, partnerships and terms of service? Transparency creates accountability so if they aren’t, this should be taken as a strong warning.   


When using a finance broker, your primary objective is to acquire the funding that you need while keeping your lending costs as low as possible. While a good firm will charge you a competitive price for its service, you should be wary of brokers whose fees seem inordinately high.
Finance can be the difference between a dream coming to life or not. While finance specialists and brokers can often help you get the best deals, you must be wary not to plunge into any arrangement that will cost you more than it has it to, particularly in terms of long-term obligations. Consider the tips outlined in this article and you will be fine!


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