The Argument

The ‘broking services’ concept is a compelling one. The argument for it runs roughly and simply as follows:-

The vast majority of Account Executives or Broker Principals like what they do and enjoy the part of the job that they are good at; typically the client-facing element of their daily lives.

Too often, however, the Account Executive does not feel fully in charge of his/her own destiny and might consider ‘going it alone’ and becoming a Broker Principal, but...

Unfortunately, as a (small) Broker Principal, too much of your time is unproductively spent doing things other than the client-facing work; such as securing markets and service levels, the detail of administration, competing unequally with a growing number of aggressive larger brokers.

This is not to mention employment problems, dealing with system suppliers and, now, regulation etc.

The solution is perfectly straightforward; just get rid of anything that is peripheral to the client-facing side of the business; simply outsource it.

Drastic: yes. Outrageous: yep. Practical: yes. Profitable: yes.

Further Information

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