The ‘AR broking services’ concept is a compelling one. The argument for it runs roughly 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 lives.
Too often, however, the Account Executive who does not feel fully in charge of his/her own destiny and might consider ‘going it alone’ and becoming a new Broker Principal, but is concerned that…
… as a new Broker Principal, too much of the time will be spent unproductively in meetings, doing things other than the client-facing work; such as securing markets and service levels, plus day-to-day admin, accounts reconciliation etc; which, alas, is true.
This is not to mention all the problems of employment, dealing with system suppliers and, of course, FCA compliance, it’s not easy to manage everything.
The solution is perfectly straightforward; just get rid of anything that is extraneous to the client-facing side of the business; quite simply… outsource it.