21st July 2015

Apprenticeship scheme to attract the next generation of commercial finance brokers is welcomed.

The commercial finance market is changing dramatically, with new products, new lenders, and new technology to name just a few areas. This alone should be sufficient to attract the next generation of commercial broker to a market undergoing a revolution. However, a new structured apprenticeship scheme should be applauded for both its proactivity and the sensible approach to educating a new generation of quality brokers.

We are all well aware of the changes being experienced, with the rise of the Alternative / Non-Bank Finance industry. The broker community, led by the NACFB, understand and embrace this revolution and the new perspectives it brings. FinTech, Aggregators, new niche products delivered by a variety of different and new lenders, in addition to the ongoing requirement for education, are all things that require the next generation of commercial broker to offer traditional broker services, but also keep up with, communicate, and, most importantly, be involved in the helping to shape the market. Any healthy market offers choice and brokers need to be aware of those choices and be able to communicate them effectively to their clients.

As with any apprenticeship programme, its success or failure will depend on the quality of candidate it attracts, the quality of the education process and its mentors. I have no doubt that the apprenticeship scheme announced by the NACFB and Hitachi Capital has the ability to attract high calibre candidates and, with the correct programme structure, can bring the next generation of broker through to the benefit of the whole market. If this scheme proves successful then I’m sure it will grow with the expectation of involvement from more lenders and commercial brokers alike.