That’s a perverse decision!
Why would you do that?
It makes no sense whatsoever and that tells me that you have no understanding of value of the advisers you deal with.
A client asked us to put forward a complex solution, in a difficult market. Having conducted a substantial piece of work for them, we delivered a solution that saved them over £3,000 and delivered terms and conditions that were better than they had previously enjoyed. They were #openhonesttransparent working on a fixed fee, not hidden commission.
Did they say thank you?
Did they place the business with us?
Not a chance. What they did was feed our price and terms back to the incumbent and asked them to match or beat it, and this is after they had already been offered a solution that was over £3,000 more expensive than ours.
The incumbent reduced their price and altered their terms to match ours to keep the business, and on the grounds of consistency the client decided to stay where they were.
Why would you do that?
It doesn’t matter if you’ve known them for several years, or that you want consistency. What you will continue to get is:
- Consistently bad service
- Consistently lazy broking
- Consistently higher pricing
Had the broker been any good, they would have found the solution we sourced, in a particularly difficult market sector.
If they ever approach us again, I’m afraid the answer will be NO THANK YOU!
There are some clients and some opportunities which are not worth your time and effort, learn to identify the tyre kickers and decline the opportunity.
They will inevitably get their just reward, one day.
Have a great day
