June 2019
By Clint White, Director at Fiduciam
Although many businesses say they are built on relationships, it is amazing how often we walk away from a transaction thinking ‘that person didn’t care about me or my needs, they just wanted the sale’. Unfortunately, in a busy world, especially one driven by targets, it can sometimes be difficult to get the balance between winning business and giving the best service right. Nevertheless, the long-term goal should always outweigh the short-term gain.
Building long-term relationships, by providing great service, listening to a client’s needs and finding a solution especially for them is vital to the longevity of our business. So, having good relationships with the brokers and intermediaries we work with is paramount. This was the main reason we chose to partner with FIBA, to get closer to the membership and show how the way we work is different.
Treating customers fairly isn’t something that stops with brokers, it should carry through the whole process. The best way to do this is to show that we are trustworthy and have their client’s best interests at heart.
The definition of a relationship in the Oxford English Dictionary is ‘The way in which two or more people or groups regard and behave towards each other’. So, it’s a two, or three or more, way thing. We don’t just want to feel we have good relationship with someone, we need to know that they feel the same about us.
Of course, there are times when it would be easy to do the minimum amount possible to get a deal over the line. But, how often do those occasions then end up in unforeseen problems or, worse, a less than flattering review. It is often said, and definitely true, that the best kind of advertising is word-of-mouth. Without relationships this just doesn’t work. So, it has always been our intent to garner solid, long-lasting relationships with everyone we work with.
We’re as happy to recommend as we are flattered to be recommended, and that’s what working together is all about.
We have said in the past that it is important for brokers to know their lenders, and of course this is vital for a balanced view of the market. However, it is just as important for us as a lender to get to know and understand the brokers and other partners we encounter, because everyone works differently and everyone has their own speciality. This is an incredibly diverse sector and it would be foolish to think that one size fits all.
Fiduciam is, of course, a lender but as much as we are about providing flexible funding solutions this never comes at the expense of the relationships that each transaction depends on for success.
Richard Branson once said “I have always believed that personal relationships are vital in business and that people should be directly accountable for their actions.” This sentiment is central to the way we do business at Fiduciam, and working with FIBA means that we have an even greater chance to build the relationships that are vital to our business and to that of its members.
For more information visit https://fiduciam.co.uk/home/