We spoke to CEO and co-founder of The Broker Hub Philip White, to find out why he felt there was a need within the broker and lender industry which needed to be addressed.
Philip, you have been devising The Broker Hub concept and proposition for over a year – what was it that prompted you to start this journey?
“I’ve worked within the Asset Finance industry as a broker and a lender for over 30 years and in that time, I’ve seen a number of challenges affecting both brokers and funders which has given rise to the potential of inadvertent friction.
“After my accident in 2019, I wanted to focus my attention on solving these challenges and get to the bottom of the issues and finding a solution. Based on 12-months of formal and informal round tables and workshops, often over a coffee, sometimes over a beer and working with brokers and lenders alike, I identified the “industry trilemma” facing the finance community, being technology, compliance and capital.
“What was clear is that all parties were looking for the same desired outcome but viewing their solutions through their own lens. I believed there was an opportunity to try and help bridge the gap between brokers and lenders. In doing so we could help create a future where brokers can have a platform to thrive, build and maximise their business expansion.”
“By providing access to technology, resources, and capital, The Broker Hub aims to empower these brokers to establish themselves as business owners.
“We wish to work in partnership with ambitious/entrepreneurial finance professionals to build a new breed of high calibre finance brokerages. Who will then serve the needs of UK SMEs, whilst simultaneously assisting business owners in achieving their long-term financial independence, providing outstanding quality and excellence with their funding solutions. In turn they will deliver proposals to the lender community which have depth and quality which in turn will improve conversion ratios.”
What makes The Broker Hub different?
“The Broker Hub focuses on nurturing a specific cohort of brokers, typically aged 25-35, who possess the drive and potential to grow their own businesses but lack the necessary capital. It will be at the forefront of delivering a succession plan for the broker industry. The aim is to encourage new, young talent into the broker world.
“The platform offers all of the sales, marketing, and credit tools needed to provide an efficient digital-first environment allowing brokers to work more efficiently with a broad spectrum of lenders. By partnering with leading technology providers and fintech compliance consultancies, The Broker Hub ensures that brokers have access to best-in-class systems and processes allowing them to concentrate on meeting the needs of the customer.”
“One of the significant differences The Broker Hub offers is working capital, this comes in the form of shareholder loans of up to £50,000. This capital injection is aimed at ensuring the right people join the platform at the right time and receive the support needed to grow their businesses. Additionally, The Broker Hub provides management accounting services, detailed reporting, and year end accounts. It guides brokers through the compliance journey, ensuring adherence to regulatory requirements from both a broker and lender perspective.
“The Broker Hub represents a transformative platform that brings brokers and lenders together in a collaborative and compliant environment. By leveraging technology, capital, and compliance support.”
What is your vision for The Broker Hub?
“Ultimately, I want The Broker Hub to empower brokers to become successful business leaders, driving growth, and optimising enterprise value. Through data-driven insights and strategic partnerships, the platform aims to revolutionize the broker-lender relationship, ensuring mutual success in an ever-evolving finance market. “
If you are interested in becoming a partner of The Broker Hub, please call the team on 0208 135 9870.
