This year, Asset Finance Solutions (UK) Ltd proudly celebrates its 20th anniversary. From humble beginnings to becoming one of the leading networks in the asset finance industry, the journey has been remarkable. To mark this milestone, I sat down with the founders—Nick Simpson, Justin Ford, and Mike Geddes—to discuss the secrets behind their success, the evolution of the industry, and what the future holds for AFS.
Q: How does it feel to have been in business for 20 years?
Nick Simpson (NS): It sounds old-fashioned, but the time really has flown by. There’s an adage that if you do something you love, you never really work a day in your life, and for us, that’s been true. Alongside setting up and running the business, we’ve also become lifelong friends. The tremendous support we’ve received from across the industry has been incredible and I am truly grateful to all that have supported us along the way.
Q: What has changed in the last 20 years?
Mike Geddes (MG): My hairline and Justin’s waistline, for a start! Joking aside, there has been so much change—the economy, regulations around business finance, and even the profile of people joining our network have all evolved. We’ve navigated economic downturns, a pandemic, and rapid technological advancements while staying true to our core values: honesty, integrity, and transparency.
Q: You mentioned people—how has the profile of brokers changed?
Justin Ford (JF): We’re seeing a lot more young people joining the industry, which is fantastic. Ten years ago, the industry was at a crisis point in attracting new talent—public perception of finance had suffered post the banking crisis. However, in recent years, we’ve seen a wave of younger professionals entering the sector, bringing fresh perspectives and enthusiasm. Regulatory changes have helped, but the real shift has come from a more diverse group of brokers dedicated to raising industry standards.
Q: With the changing profile of brokers, how have you evolved your services to remain relevant and competitive?
NS: Our core purpose has remained constant—to provide brokers with all the tools and support they need to set up, run, and grow their businesses at a service level and price point they couldn’t achieve alone. Our wide funding panel, comprehensive compliance support, and the expertise of our head office teams are all critical to delivering this.
MG: Alongside this, we’ve invested heavily in IT and systems—not just for efficiency but to ensure full compliance and transparency. With ever increasing scrutiny in the finance sector, having robust processes is essential. The brokers joining us today are digital natives—they expect intuitive software that helps them get insights into their business rather than being a hindrance.
JF: We’ve also enhanced our Broker in a Box offering with marketing support and partnered with the Finance Education Centre to provide specialist training for brokers at all career stages. Regardless of how long they’ve been with us, we see our members’ drive to grow their businesses and develop professionally, and we want to support that ambition.
Q: AFS has always prided itself on being different. How do you maintain that fun-loving culture as you grow?
NS: It’s a challenge. In the early days, it was just us and a small team, many of whom were
friends and family. As we’ve grown and attracted talent from across the country, we’ve had to be more intentional about maintaining our culture. We’ve set up additional offices and emphasised communication, ensuring everyone feels connected. Finance is a serious business, but we want to keep things fun along the way.
Q: Some critics say AFS has become ‘too big’ or ‘too successful.’ How would you respond to that?
NS: I’ve occasionally heard that from competitors, and I’m not really sure what it means. What defines a business as ‘too big’? Yes, we’ve scaled to meet the needs of our brokers, but we remain relatively small in terms of employee numbers. Having a large funding panel simply means offering more choice to end customers. Our financial stability provides security for our brokers and employees alike. As long as there’s ample market opportunity for our brokers—which reports show there is—then size isn’t an issue.
Q: If you could do one thing over, what would it be?
NS: That’s a tough question. I’m sure we’ve all been in situations we would have handled differently with hindsight, but ultimately, every decision—good or bad—has taught us something and brought us to where we are today.
Q: What has been your proudest moment from the past 20 years?
NS: I’m proud of how we’ve grown without losing our personal touch. We still get out to meet our brokers and mentor them, which is incredibly rewarding. It’s easy to think of finance as just numbers, but behind every transaction is a person—someone building their own business, achieving their personal and professional goals, and supporting other business owners along the way.
Q: What does the future hold for AFS?
JF: As Nick mentioned, we want to stay true to our core mission—helping brokers thrive and creating an industry with high standards where the brokers are valued and respected. How we achieve that will continue to evolve, but our purpose remains the same.
Nick, Mike, and Justin—congratulations on this incredible milestone. Here’s to many more years of success!
