If you own or manage a financial services business, you know there’s rarely a dull moment in your week. Financial services is an exciting industry with incredible professionals, but it requires diligence, planning and attention to detail.
So if your organization is looking for additional ways to add profit to the bottom line, it can be a little daunting. Where are you possibly going to find extra hours in the day to map out a side business, get it off the ground and train the people you’ll need to run it successfully? If these fears have crossed your mind, you can rest assured we’ve heard them from other financial services professionals, too. Too many American workers in general feel they are working harder than ever, even more so in the fast-changing finance sector.
We’ve got good news: By partnering with our team of experts, you can integrate a new profit center into your existing business without adding a lot of burdensome red tape. In fact, we can help financial services companies leverage their resources and maximize their time so they can focus on the task at hand.
Top tips for financial services firms seeking to grow
If this all sounds too good to be true, we’re pleased to report this is the exception. This type of arrangement is achievable, and it’s happening in more places than you might think. If you are considering such a business model and need some practical steps to move forward, we recommend taking advantage of the following tips.
Find a business partner that understands financial services. Too many startup financial companies make pitches that sound as if they were pulled from an “As Seen On TV” advertisement. We tend to advocate for the old rule of thumb that if it sounds too good to be true, it probably is. Our firm is committed to serving your business for the long term. We’re not a fly-by-not operation.
Revisit the benefits of premium financing. Your organization is already preparing premium financing. Why not take those efforts to the next level? We provide you with a completely turnkey solution. By turning the steering wheel over to the COST team for this portion of your business, you will free yourself up to do the important work of leading and managing the people on your team.
Discover additional profit opportunities. Few businesses would turn down the chance to add revenue to their bottom line. By redirecting revenues away from outside sources and back toward your company, you’ll be amazed at the financial incentives to switch to the model we’ve developed. Best of all, our clients generally realize benefits of between $30,000 and $40,000 net profit per million financed.
Add efficiency with best-in-class technology. Automation is adding efficiency to many businesses and helping them keep track of increasingly complex data sets. Our team uses a valuable online quoting and management system that’s not only easy to learn but also easy to use and apply to your individual situation. Our tech vendors are top-notch and can customize the platform to help your premium financing business succeed.
Reward customers with outstanding service. The true test of any business is the care and concern it shows for its clients. Premium finance is a breeze with our suite of customer-facing benefits including electronic billing, online management tools for accounts, around-the-clock phone support and payment capabilities online or via phone.
If your financial services business is interested in pursuing a better kind of premium financing program, our team at COST Financial Group would be happy to walk you through the kinds of partnerships we can establish. Contact us at 800-844-2678 or via email at info@costfinancial.com.