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The importance of brokers when it comes to small business lending was highlighted at a summit earlier this month.
The 2018 FAST Commercial and Asset Finance Summit is specifically designed for commercial and asset finance brokers and it includes workshops as well as regulatory and industry updates and panel sessions.
Keynote speakers at this year’s event included Institute of Public Accountants (IPA) CEO Andrew Conway and NAB general manager of performance and operations Nicole Devine.
FAST CEO Brendan Wright said the quality and level of discussions focused on good customer outcomes was a stand-out at this year’s event.
He added, “We’re committed to supporting brokers to thrive and build successful and sustainable businesses. It’s no coincidence that FAST brokers account for more than a third of all commercial loans originated via the third party channel.
“In my mind, this largely comes from FAST brokers having a deep understanding of business and a client-first approach, which I’m proud to say came through, perhaps stronger than ever before, at this year’s Commercial and Asset Finance Summit.”
FAST’s 2018 Commercial and Asset Finance Summit also reinforced the opportunity for brokers and accountants to work together to meet the needs of SME clients.
In his keynote address, Conway highlighted some initial findings of the IPA Small Business White Paper developed in partnership with Deakin University, due to be released later in the year.
He said, “A startling point to come out of our latest round of research is around mental health. The results suggest 69% of small business owners are stressed, anxious or depressed and 70% cite their small business as the primary cause of this. Encouragingly, 95% of respondents said engaging a professional adviser, such as accountants or brokers, reduces that stress.
“All of this points to the important role accountants and brokers play, not only in helping small business clients achieve their business goals, but also in improving their personal life.”
Founded in 2000, FAST is one of the largest and most established aggregators in Australia, supporting more than 1,300 brokers to arrange more than $20billion in residential and commercial lending for customers annually.
