NACFB set to conduct 2500th broker review

Milestone follows decade of supporting higher industry standards

LONDON, Thursday 21st March 2024 – The National Association of Commercial Finance Brokers (NACFB), the UK’s largest independent broker-led trade body, is poised to mark a significant milestone with the conduct of its 2500th review of a commercial finance brokerage. The landmark achievement highlights nearly a decade of dedicated efforts in championing higher intermediary standards.

With the NACFB reaching record-breaking membership levels earlier this year, it is evident that brokers across the full spectrum of commercial lending are increasingly recognising the importance of demonstrating business integrity, robustness of processes, and regulatory adherence. This shift reflects a growing awareness of the need to uphold professional standards to both their clients and lender partners.

James Hinch, the NACFB’s head of compliance, shared his perspective on the upcoming milestone: “Building upon the best part of a decade’s worth of insight, experience, and relationships, the NACFB approaches this significant milestone unwilling to rest on our laurels. We remain dedicated to championing higher standards and are already preparing for the next 2500 reviews to further empower the broker community.”

Last year, the NACFB’s longstanding Minimum Standards Review was refined and repositioned as an Assurance Consultation Process. The innovative approach has empowered NACFB Members to share their status with third parties, reinforcing the inclusive nature of the reviews and the trade body’s commitment to supporting all willing brokers in achieving recognised professional standards.

Lynda Bradbury from asset finance broker TAFCO also reflected on her experiences: “Completing the NACFB Assurance process, with strong support from the trade body, has boosted my confidence in dealing with regulations, enhanced my grasp of our duties, and empowered me to proudly present our certification. In an era where the asset finance community faces intense scrutiny, this distinction underscores our unwavering commitment to excellence, and helps sets us apart in the eyes of both our clients and lenders.”

Speaking on behalf of one of the UK’s biggest brokerages, Watts Commercial Finance’s Phil Gray shared: “The NACFB Assurance process really was invaluable for the team here at Watts. It allows us to showcase our exemplary operations to clients, peers, and lenders, whilst identifying areas for improvement. Our trade body’s supportive and constructive approach truly brought the process to life, enhancing our standing and affirming our commitment to upholding the highest standards in the industry.”

Celebrating its 32-year history of fostering an inclusive approach to raising industry standards, the NACFB is set to invite more commercial brokers to embrace the opportunities that come with confidently attesting to professional integrity.

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