Small brokers often offer far better service, better marketing strategies and they are much more likely to negotiate their fees (especially very small firms).
Not exact matches
Even though a loan
broker may review loads of financial information each day, the
smaller details of their own brokerage's money matters are
often overlooked.
«If you pay bills in cash or rely on a line of credit or loan, like a
small business owner
often does, then you'll have a terrible credit score even if you always pay your bills on time,» explains Michael Brattman, vice-president of personal insurance at Erb Insurance
Brokers.
For premium
brokers, the account opening requirements is usually higher and
often beyond the financial capability of the
small retail trader.
Brokers who are beginner friendly and cater to
small time traders
often provide their traders with micro and mini trading accounts.
Direct lenders originate loans, and wholesale and correspondent lenders purchase loans, from Mortgage
Brokers or
smaller lenders, most
often with the intent to resell those loans into the secondary market, packaging them into MBS.
I decided on the latter because BMO
often offers a
small bribe ($ 250) for those switching from another
broker with at least $ 100,000 in assets.
Yet this ignores the fact that what
small savers
often get from
brokers is not true advice, but rather a sales pitch disguised as advice.
When talking to
small business owners, you will
often see a misunderstanding between the roles of agents,
brokers, and underwriters.
And
brokers at
smaller firms
often don't even have that option and have to build the materials themselves, which can lead to inconsistencies in the company's branding.