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The commercial brokerage is offering owner-operator brokers a new service to help them add value to their business and succession plan.
Specialist asset finance broking house Moody Kiddell & Partners (MKP) has launched MKP Platinum to owner-operator brokers, a new offering that aims to help brokers build value and reduce key person risk.
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The offering is available to commercial asset finance brokers writing in excess of $25 million in asset finance per annum and with an established client book.
MKP Platinum provides brokers with a range of services that include processing, marketing, and centralised operations services that aim to help the broker owner reduce key person risk, take periods of leave, and – eventually – exit the business.
It highlighted that its centralised management services cover marketing, as well as finance and IT infrastructure, while its centralised operations services provide end-to-end loan processing, accreditation management, and the use of MKP’s proprietary Skybolt system – a CRM that allows brokers to see their opportunity pipeline, settled deals, manage opportunity status, and calculate repayments easily.
MKP Platinum aims to help brokers take four weeks of holiday relief per year and provides brokers with an option to sell their business to MKP should they choose.
It said that it has an “asymmetric contract term”, locking MKP for an extended period, but allowing the broker to break the contract at short notice.
Speaking of the new MKP Platinum offering, the chief executive of Moody Kiddell & Partners, Alex Moody, stated: “Owner-operator brokers don’t really have the opportunity to take any decent breaks. If they want to go away, they either have to keep taking calls or risk losing clients and, importantly, introducers.
“It is a tragedy that many owner-operator brokers get to the end of their career and simply close their doors.
“All the value in their business disappears. MKP provides all MKP Platinum brokers a built-in option to sell to us using a pre-agreed formula, offering market-leading valuation multiples for businesses this size.
“One reason why so many finance brokers’ businesses end up valueless is because they don’t have any data on their clients.
“When a broker joins MKP Platinum, they will start to use Skybolt and build in all this rich data about their client.
“Their business will be more valuable whether they look to sell it or keep it in their family.”
The move is the latest support offering to roll out to asset finance brokers, as more associations, lenders, aggregators, and brokerages look to provide services to this growing segment of the broker channel.
[Related: SMEs unfairly ‘penalised’ by credit scoring system, brokers warn]
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