How to Get More Leads as a Finance Broker by Prioritizing Transparency and Trust

The traditional way to generate business as a finance broker is to advertise an unrealistic rate and collect phone numbers from people who want to see a quote. This typically converts one in twenty phone numbers into a deal, and experience tells me that less than one in 20 will get the advertised comparison rate. This method has the best return on investment from a profit and loss point of view.

I have tried many different quote tools. They all capture the client’s details to get a quote, and they mostly give unrealistic results.
So, I decided to build my own. My tool is realistic and straightforward, and the best part is that you don’t have to give away your details to see the quote.

In an industry often driven by quick conversions and misleading tactics, I’ve chosen to take a different path in my finance broker business. My approach is rooted in transparency, honesty, and a genuine commitment to helping clients make informed decisions. Here’s how I’m challenging the status quo:

1. Embracing Transparency at All Costs

I believe in sharing all sides of each financial scenario with my clients, even if it means losing their business. This approach:

• • Put each client’s best interest first.

• • Highlight any relevant small print

• • Treat others like I would like to be treated myself

• • May result in fewer immediate conversions but leads to more satisfied and loyal clients

2. Rejecting Misleading Advertising Practices

The traditional model in finance brokerage often relies on:

• • Advertising unrealistic rates to attract potential clients

• • Collecting phone numbers from interested parties

• • Converting approximately 1 in 20 leads into actual deals

I’ve chosen to break away from this model, prioritizing honesty over quick gains.

3. Developing an Innovative Quote Tool

After experimenting with various quote tools that often provided unrealistic results, I decided to create my own. My tool stands out because it:

• • Offers realistic and achievable quotes based on individual profiles

• • Doesn’t require users to provide personal details to view quotes

• • Prioritizes simplicity and user-friendliness

4. Empowering Clients with Information

Unlike traditional methods that withhold information to secure contact details, my approach focuses on:

• • Providing comprehensive information upfront

• • Allowing users to access quotes without surrendering their phone numbers

• • Enabling potential clients to make informed decisions on their own terms

5. The Long-Term Vision

While this unconventional approach may not yield the same immediate results as traditional methods, I firmly believe that:

• • Doing the right thing for clients will ultimately attract more business.

• • Building a reputation for honesty and transparency will lead to stronger client relationships

• • This model aligns with a more ethical and sustainable approach to finance brokerage

Conclusion

By prioritizing client interests over short-term gains, I’m not just running a business – I’m working to reshape the finance brokerage industry. This approach may be unconventional, but I believe it’s the key to long-term success and client satisfaction in an industry that desperately needs more transparency and trust.