BN25: Why we need to shine a spotlight on the broker sector

WHEN Ralph Morton contacted me with the idea of the BN25 I was absolutely thrilled – it was a real “why has no-one done this before?” moment.

The FN50 has been around since I joined the industry at the turn of the century, and with the brokers now accounting for 13% of the UK fleet (a conservative figure that’s likely to be more), it’s remarkable that it has taken this long for the sector to get an equivalent platform for recognition.

Brokers are a vital part of the UK vehicle leasing industry, providing funders and OEMs with a flexible, innovative and responsive route to market. As the market continues its shift toward subscription models and online sales, I am firm in my belief that the broker sector is only going to grow in importance.

I’ve seen the sector respond to challenge after challenge over the years: the global financial crash, COVID-19, supply chain disruption, the EV transition, and the regulatory pressures of recent times. Plenty of less adaptable industries would have struggled to survive such a relentless pace of change, but brokers have come through it all. The operations we’ll be celebrating on the 5th of February are a far cry from the old stereotype of the “bedroom broker” – these are sophisticated, scaled businesses processing more orders than ever before. The recent announcement of a broker completing more than 1,000 orders in a single week speaks for itself.

Given this growing scale and significance, it’s high time the sector gets the recognition it deserves. That’s why QV Systems is so proud to be the headline sponsor of the inaugural Broker News 25 Awards.

We are sure this is the first of many years celebrating broker excellence, and we’re looking forward to seeing many of the businesses we work with recognised on the 5th of February in the Swallow Rooms at Richard Corrigan’s restaurant in Mayfair – Bentley’s Oyster Bar & Grill.