These are the most frequently asked questions by our introducers
1) Why do so many advisors refer clients to IBC?
There are various reasons:
- Most introducers recognise that, because we are trained lenders who have worked in commercial lending for many years, we are ideally placed to negotiate with lenders on behalf of their clients.
- They are reassured by the fact that we are authorised and regulated by the Financial Conduct Authority for credit related activities, including debt adjusting and debt counselling.
- They feel safe because they know we do not compete with them in any way.
- They value our independence and our dual capabilities for dealing with both banks and independent lenders.
- Some introducers like the fact that they do not have to risk accruing non-chargeable time by trying to deal with something outside of their area of expertise.
- Others are wary of potential damage to their reputation if problems occur after they have made a direct referral to a bank, so they prefer to refer their clients to us as a way of distancing themselves from this potential problem.
2) Will using IBC disturb my relationship with my client?
Our services are complimentary and we take care not compete with our introducers in any way. We are also aware of our own limitations and always ‘stick to our knitting’ for fear of making mistakes when trying to do work outside our area of expertise.
3) Will I lose income if I introduce one of my clients to IBC?
No. Because we do not compete with our introducers, or get involved in work outside our own area of expertise, then we do not take income away from them. Many of our introducers (accountants, for example) are better off by introducing us because of the non-chargeable time they might otherwise lose if they took on a financing job for a client but were unsuccessful.
4) Will IBC disrupt any reciprocal arrangements I have with lenders?
No. We have been working by referral since April 2000, so we are sensitive to the needs of our introducers. We realise that some of them try to cultivate a reciprocal arrangement with banks, in which case we will make sure that our introducer gets the credit for making a referral to a lender via us.