Unfortunately the reality is often far from the truth as the popularity of the internet has seen a surge in internet only “brokers” who in reality are little more than clever website designers attracting leads from interested parties to pass onto a third party for a fee, whilst many of the rest are anything but independent.

The unsuspecting customer may expect to be receiving unbiased advice from an experienced factoring broker but that is seldom the case as many of the high profile factoring brokers are anything but independent or unbiased.

Leaving aside the high profile broking outfit that is actually owned by the Bibby Factors group, several of the others earn the major part of their income by carrying out audit and other work on behalf of the factoring companies on a mutual back scratching basis and if they ceased producing leads for the factoring companies their lucrative quid pro quo accounting work would soon dry up.

Unfortunately there are neither professional qualifications needed nor a regulatory body but at least the Association of Independent Factoring Brokers will attempt to provide some degree of transparency and a quick look at some of the web pages on this site ( links on the right) may prove to be illuminating.

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