Why partnering with a currency broker is a win for you and your clients
Contributed by TorFX
20 June, 2017
Being able to help your clients manage their international payments is an important string to your bow, but you could be going a step further than that by helping them save time and money in the process.
Your clients could be losing out on a significant amount of money if they're using a bank to make their international payments rather than a specialist currency exchange provider. By partnering with a broker you can improve on the service you're offering your clients while you both benefit financially.
Help your business clients minimise their costs
A key reason businesses turn to tax advisors is because they need help minimising their costs, maintaining a reliable cash flow and improving their profitability.
Introducing them to a currency transfer provider is a simple and logical way of freeing up more of their money and minimising the Sterling cost of any overseas liabilities. Leading currency transfer providers can offer great exchange rates, free transfers and a range of hedging tools. On top of this, your clients will also benefit from regular market updates and the dedicated service of an expert Account Manager. With their insight and support your clients can mitigate the impact of exposure to the currency market and budget for foreign transfers more effectively helping them maximise overseas profits and minimise overseas expenditure.
By taking advantage of basic risk management tools like forward contracts and limit orders, they can better control and forecast their cash flow, which is beneficial from a tax and accounting point of view as it makes it much easier to keep track of earnings and profit.
Help individuals keep more of their hard-earned cash
Sending money overseas or repatriating it home at a poor exchange rate can also see your private clients lose out on a lot of money. On larger transfers the difference can add up to thousands; thousands your clients would undoubtedly prefer to save, or have available to spend.
As well as making money go further, currency brokers can help your clients pick the best currency transfer option for their needs, whether that means setting up regular overseas payments or using a forward contract to fix an exchange rate up to two years in advance.
Make your job easier
Exchange rate volatility complicates financials by adding an element of uncertainty to regular or one-off international payments. On large transfers, or during periods of heightened market turbulence, this can mean you have to leave a wide margin of error in your forecasts.
Businesses and individuals that use the range of tools offered by a currency broker are better able to plan their expenditure and forecast their income. This means you have a more accurate view of their cash flow and so can better assess their liabilities.
Help a wide range of clients
Reputable currency brokers offer a range of services that can help all kinds of clients with a range of payments for any purpose. Leading brokers have no upper limit on transfer amounts and can make payments of as little as £100 through online trading platforms.
Competitive exchange rates and risk management tools are available to all kinds of customer, meaning that those sending pension payments overseas, buying a property, managing a payroll, emigrating, making investments, repatriating profits or handling import/export costs can all benefit.
Generate additional revenue from your clients
Many of your clients are likely to have foreign currency exchange requirements.
By referring these clients to a broker, you're providing them with a valuable service that helps them save money, better manage their funds and free up time. You'll also earn commission on transfers made by the clients you refer, meaning you can save your customers money on their international payments while also transforming this into a new source of revenue for your business.
It's a simple way of upgrading your offering while generating additional income and your clients will enjoy the benefits of saving money too.
Partnering with TorFX
To find out more about adding additional value to your services and helping your clients save money while you enjoy a new revenue stream, check out the reasons why you should partner with TorFX (FCA regulated, award-winning currency brokers) on their Partners site or contact Natalie Collins, Partnership Manager on +44-(0)1736 335234 or firstname.lastname@example.org
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