For our “Meet the Team” series we sit down with Alan Beardsworth, who is responsible for client relations at Renaissance Asset Finance (RAF), the asset finance subsidiary of Arbuthnot Latham.

What does your role entail?

I manage a small number of large-volume production brokers who have specialities in niche sectors such as supercars, classic cars, environmental, private ambulances, and commercial vehicles. I also deal directly with HNWIs (High-Net-Worth Individuals) with whom I have built relationships over the years. They have stuck with me since I entered the world of financial services at 19 (now 45!). I try to provide the best level of hands-on service.

As of February, what trends are you seeing in the asset finance industry?

For me, specialising in wheeled assets, the market is strong in all areas – from drainage to high-end vehicles. The lack of new stock coming through has driven the price of used stock to astronomical levels, this will change in the future, but this may not happen for at least the next one to two years.

Clients are looking to change vehicles due to the high trade-in price they are receiving from dealers. The strong residual values are also a real benefit for our current live portfolio. One of my clients de-fleeted 500 commercial vehicles last year and received 20% over list price, having initially received a 40% discount on day one. This meant a strong return on his investment in these vans due to market conditions.

How can asset finance support your clients?

In two ways. For my HNW (High-Net-Worth) clients, it allows them to fund their dream car for a personal collection. This then leads to other opportunities across Arbuthnot Latham in terms of banking which we have seen last year as a real benefit to both RAF and the client.

Asset finance also supports growth by supporting new contracts. Clients need to purchase assets to fulfil the contract requirements. This is where RAF comes in, supplying the funding to support these contracts. A good example of this was when an independent ambulance company won a new contract to supply 90 vehicles (14 new Electric) for a globally renowned children’s hospital. We are in finalising the funding for these 90 vehicles at £90,000 each. The client also has a link to Arbuthnot Latham through the asset-based Lending team who provide the Invoice Discounting facility.

What would you say is noteworthy about Renaissance Asset Finance?

We at RAF are renowned for service and getting to know our clients. We are not a distant lender – we are hands on and meet clients to learn about their business, life, and needs. This allows us to cement relationships now and for the future. Being a tight-knit team enables us to do this. Even as we grow further, this will not change.

Are there any personal or professional highlights so far this year for you?

For me, I would have to say the most recent highlight was financing two of the most expensive supercars in the world. Collectively they cost over £5M. Funding these two cars was great and show how important RAF is to the broker market as a specialist bank.

Finally, do you have any hobbies/interests outside of your role?

I have three children, two girls (16/14) and one boy (8). My boy is football mad, so I spend every weekend at training on Saturdays and Sundays at the match (which I really enjoy). He supports Man United (I do not). The girls keep me busy as their own personal weekend taxi driver. I play a lot of golf, playing in a local Society and Worthing Golf Club. I enjoy going to the Rugby at Twickenham. During the ages of 11 – 16 I played Badminton at a high level and reached number one in England. I then found College and decided to give up the game, but I still play now.