Results 1 to 19 of 19
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08-03-2015, 10:57 AM #1
ISO's- How Important Is A Dedicated AE?
I've managed to cultivate a great relationship with a particular AE for one of my funders. The guy is super aggressive and successful with getting manual looks done on deals that the automated system declines.
A few weeks ago the company transferred my account to a different AE. Nothing personal against her, but she is not as aggressive. I've sent management numerous emails requesting to be changed back to my original guy. My original guy has also spoken to upper management. After being told I'd be switched back, it hasn't happened.
I'm curious of fellow ISO's, how important an AE relationship to your business? I know a lot of companies don't have dedicated AE's, but some do. Those are the company's I prefer to send my business to.
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08-03-2015, 11:49 AM #2
Dedicated BD reps are given to ISO's that submit volume. Not really sure how much pull they really have in the UW process though. Their main benefit is that they are there to speak with UW'ing, as you are are not.
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08-07-2015, 11:23 AM #3
From my experience dealing with funders that have dedicated AE's vs. a blanket response (underwriting@directfunder.com) I always prefer having an AE to consult with. Even if the AE didn't have much, if any, pull during the UW process, it's great to get a more concise explanation of your declination. Helps educate yourself, your reps, and build a stronger relationship.
RYAN RIDGWAY Managing Partner, Strategic Capital
Office: 800.440.6448 | Direct: 816.298.0966 | Fax: 816.298.0857
10551 Barkley St. Suite 403 Overland Park, KS 66212
rridgway@capitalwithstrategy.com | www.capitalwithstrategy.com
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08-07-2015, 11:41 AM #4
personally I prefer to be able to talk directly to the underwriter.. The banks I have the most success with I deal with the person underwriting the file. It is a lot easier discuss deals when you dont have a middleman having your conversation for you..
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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08-07-2015, 12:06 PM #5
It is extremely important to have a dedicated account manager to train ISos on the funding products, policies, help with pricing or repricing in competitive situations, on site training if required, and to be the key liaison between you the selling agent or ISO and the funding company. It also helps if the manager has sold the funding products before and has experience to share about the industry And competitors to the sales channels they manage and what to look out for in competing offers across diff funders . Also, someone who will help you with commissions new and renewals and fight the daily grind for you day to day. However, if it's someone that is just tossed to you who just started in this business and knows very little, than yes, not very helpful-
Last edited by MCAVeteran; 08-07-2015 at 12:07 PM. Reason: Add
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08-07-2015, 05:26 PM #6
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It is very important, you need someone to call and hold responsible if you need something. Wether it's a contract or an offer .
Now when you have interesting situations. I agree it's better to speak to an underwriter or "credit committee " directly
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08-07-2015, 07:19 PM #7
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08-10-2015, 10:41 AM #8
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Cresthill offers Account Executives that act like "YOUR EMPLOYEE" on our payroll. they can be called as many-times as you wish and act as a conduit between you and our underwriters. They are also on premises 12 hours a day!
Signup today for 3-4 Hours offers / Double Digit Commissions.
bizdev@cresthillcapital.comLast edited by mcaguru; 08-10-2015 at 10:43 AM.
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08-10-2015, 11:38 AM #9
Clapman never misses an opportunity
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08-10-2015, 11:51 AM #10
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08-10-2015, 11:52 AM #11
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08-10-2015, 11:54 AM #12
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your making to much money to be eating Boloney !! BTW rumor is you like Cholent!
Last edited by mcaguru; 08-10-2015 at 11:56 AM.
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08-10-2015, 11:56 AM #13
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Having a good AE is less important than being honest. UWs keep notes of which ISOs lie, omit, and otherwise act shady. A good account rep can make sure things don't fall through the cracks or get a deal UW faster, but nothing can make up for the fact that UW doesn't trust your shop. A manual look from UW will only benefit you if the UW gives you the benefit of the doubt.
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08-10-2015, 12:48 PM #14
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08-10-2015, 01:14 PM #15
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As a funder, you should be doing both. As a funder, we do.
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08-10-2015, 01:25 PM #16
Any funder that says they honestly don't keep track of which ISO's submit good deals and which submit bad, or who sends all fraud, or who's deals always always back, I have to call Bu**sh*t on.. Every funder does and if they don't then they should think twice if they are in the right business..
What separates the good shops from the badf is reputation and deal performance. If a bank isn't keeping track it is bad business for them and bad business for me. Whats the point of doing business the right way as I do if banks don't notice???John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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08-10-2015, 01:52 PM #17
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08-10-2015, 01:57 PM #18John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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08-10-2015, 03:23 PM #19
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i wrote to many notes !
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