Top Tips for Finding the Right Finance Broker for Your Business

Finding a good finance broker can be a daunting task, but it doesn't have to be. To make the process easier, it's important to do your research and select an experienced and reputable professional that can provide you with the best financial advice possible. Read on for five essential tips for finding a reliable finance broker.

Do Your Research.

Before selecting a broker, make sure you do your research. Ask friends, colleagues and other professionals who they have used and recommend. Read the reviews and feedback to ensure that you have the right people in place to support your business. Take your time and compare different brokers so you can find one that offers what is best for your needs.

Make Use of Recommendations and Referrals.

Word of mouth recommendations from colleagues and friends can be invaluable when selecting a finance broker. Ask trusted people in your network about their experiences with any brokers they may have used or had dealings with in the past. Get referrals that are based on personal experience and those who have knowledge of the industry you’re in. Compare services, fees and get a feel for their customer service approach. These can all be beneficial to help you make an informed decision.

Speak to a Range of Brokers.

It’s important to contact multiple brokers in order to get the scenario that best suits you, both from a service and cost perspective. When speaking with a broker, ask them about their experience in your industry sector and for any case studies outlining successful outcomes for other businesses. This can give you an insight into how they may be able to help you in your current situation.

Review Their Qualifications and Backgrounds.

It’s important to ensure your finance broker is qualified and knowledgeable. Review the task of qualifications they hold and speak to them about their experience. Ask detailed questions during this process such as: How long have they been a finance broker? What products do they specialise in? Do they offer any advice or insight which can benefit you? Have they reported any breaches with ASIC (Australian Securities & Investment Commission)? All of this information will help you determine the right fit for your business needs.

Compare Fees and Services Offered.

Remember that cheapest is not always best! When you’re looking for a broker to assist you with your financial needs, it’s important to compare fees and services offered across each different provider. Inquire about their rates and fees they charge, including any hidden and additional costs. It’s also important to make sure the brokerage fee is clear up front. Furthermore, enquire about the products and services they offer - such as home loans, car loans, personal loans, business loans or insurance. Having an understanding of the services provided will help narrow down your search and match you with the right finance broker.

Always talk to the team at Finance Brokers Tasmania. With our team of highly skilled brokers, you won't be disappointed