If you are a finance broker or are about to join the broker market and you are currently investigating how to obtain the necessary FCA broker permissions to trade compliantly, then you’ve probably already discovered the horrendous amount of time and the enormous cost commitment required to negotiate the frustratingly difficult direct authorisation route. If on the other hand someone said to you that they could provide full FCA compliance in less than one week … and at a fraction of the cost of direct authorisation …then wouldn’t it be worthy of a second look?
It might sound as though we are exaggerating but that is precisely what Synergy Commercial Finance achieved for one of our new network brokers very recently.
The person in question had been involved in the finance sector for many years and she was planning to establish her own independent brokerage. Obtaining the FCA broker permissions to operate compliantly is now of course a pre-requisite for brokers, but having investigated the authorisation requirements our enquirer quickly realised that obtaining the necessary broker permissions via the direct authorisation track could take several months. A simple fact that would severely restrict her status to operate as a legally compliant broker and would without doubt drastically handicap her ability to establish and grow her new business.
Having read about why Synergy could help with its already successful franchise/AR proposition, she decided to approach us to discuss the opportunities we offer.
The upshot was that after learning more about our franchise opportunity, our finance products and our compliance capacity she quickly decided to join our network and was amazed that in less than one week she had obtained the FCA broker permissions she required to proceed with the development of her business.
As a bonus to being able to trade legally without any delay, the new broker was also hugely impressed by the size of our extensive funding panel that gives her direct access to over sixty independent lending sources.
The fact that Synergy also provides the on-going compliance support that will enable her to maintain her authorised status without detracting from her everyday business commitments was an additional and much appreciated benefit.
If you are currently struggling to obtain the necessary FCA broker permissions or are daunted at the prospect of the huge direct authorisation obstacles before you, then please don’t hesitate to contact us to discuss how we can help you to operate compliantly within a matter of just a few days. Call us on 01904 481 786, email us at: email@example.com or use the online form you can find on our Contact page.