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In the Spotlight with David Spruce of Beech Finance

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In the Spotlight with David Spruce of Beech Finance

Loan Talk sits down for a chat with David Spruce, Business Development Manager at master broker Beech Finance, to find about more about his thoughts on broker technology, the viability of secured loans and seeing Tupac Shakur in concert…

1. Could you tell us a bit more about Beech Finance and your role there?

Beech Finance is a secured loan master broker, as well as a debt management company. My role is to bring in new introducers and partners to Beech Finance and increase business volumes and completions.

2. You started your brokering career at Beech Finance, before returning in 2012 after a stint at Blemain – what drew you back?

The opportunity to become the face of Beech Finance was too good to turn down for me - I had kept in touch with the staff at Beech and always wanted to return one day. Blemain were moving offices and I thought it was the perfect opportunity to progress my career.

We have had a great end to 2012 at Beech across all our departments and 2013 is already looking like it’s going to a good year to be involved with the firm, so I am looking to breaking the targets we have set.

3. How did your career in financial services start? Did you always want to be involved in the world of money?

Well, when I left college I quickly realised that I couldn’t afford to go to university and had to let my place go. I started working in a bar for a few months before landing a job in telesales. My housemate at the time worked at Beech, and I knew there was a job available as a junior secured loan processor… the rest is history!

Did I see myself as somebody responsible and as a part of the world of money as a youth? Definitely not... I just wanted to play football forever.

4. Beech Finance has recently celebrated its 20th anniversary – how has the firm changed in that time?

Beech was originally a one-man band and, at its peak, had over 30 members of staff. When the credit crunch hit, the firm reduced back down to four workers. Since then, they have done really well and built the business back to ten members of staff. The idea to bring me on board was to get us back to the heights of pre-credit crunch era and a point where we could fire on all cylinders.
5. You list hip hop and indie among your favourite music genres – if you could see any artist, dead or alive, who would you, choose?

Wow - this is a question that’s discussed at the table in the pub with friends! It’s a hard one and I’ll have to give you two answers:  on the band front, it would have to be The Smiths. Personally, I find them very uplifting and they are, for me, the greatest band of all time - Morrissey and Marr are just phenomenal.

In hip hop, it would have to be Tupac. The man was a genius, as well as an actor, poet, rap artist and political activist.

6. If you could ask for advice from any famous figure, who would it be and what would you ask?

Sir Alex Ferguson: I manage a Sunday league football team, a job which consists of all the usual delights of amateur football, so the advice would definitely be in relation to that.

7. Beech Finance recently signed up to use the Quickdox system – are you a fan of emerging broker technologies? Are there any that have particularly impressed you?

I am a fan, though I think some technologies are more beneficial than others are. A lot of brokers are spending thousands on systems that allow the introducing broker to create a quote for the customer by answering some questions on their website or an app for their phone. The problem is that they only ask qualifying questions and, in my experience, this can give a borrower false hope; what’s the point in quoting a client on a rate that may not exist for them?

If it was me looking for a quote, I would rather pick up the phone and get a realistic, ‘day one’ rate from speaking to a human. We are currently looking at ways to making submission easier for our brokers and I think that will help them get the most out of our website with very little effort.

8. In a film made about your life, who would you choose to play the lead role, and why?

Cuba Gooding JR – I’ve not seen a bad performance from that man, and I think he would portray my teenage years very well!

9. What are the biggest challenges that still face the second charge industry today?

For me the biggest challenge is still getting IFAs and mortgage brokers to use secured loans as viable route when looking to raise capital. New products released by lenders have so far been very refreshing, and I really believe they could benefit brokers who only use high street mortgage lenders.

10. If you were stranded on a desert island, what’s the one thing you’d want with you?

It would have to be a laptop with a live internet connection, so I wouldn’t miss out on any of Man United’s games (and check my work emails).


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