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Let me tell you a story about an accountant who used to introduce clients to me about 12 years ago. He was a Chartered Accountant and according to the charter he couldn’t be paid a fee for arranging anything financial for his client. In other words if he had recommended a client to a financial advisor, who in turn arranged a pension or a mortgage for his client, he couldn’t be paid a fee by the advisor for the introduction. If he accepted a fee he had to declare it to his customer and reduce his charges by the same amount. Now this is fine but at the time he was introducing a lot of business to me and whilst I took him out for lunch and occasional dinner I felt guilty about not paying him a fee for all the business he was providing me with.

But each time I brought the subject up he insisted that I owed him nothing. That was until one day I asked if he would like me to make a charitable donation on his behalf. He had been enjoying at least 2/3rds of a bottle of wine and he said “OK Graham, I’m going to put my cards on the table.”

He went on, “Whenever I get onto the subject of car finance with clients, especially leasing, I feel I’m out of my depth. So when a customer asks me questions I forward them onto you and you, very eloquently, answer the questions. I then take what you have said, cut and paste it into a letter, add a few words of my own and send it to the client.”

I couldn’t believe it. He continued, “I then send the client an invoice for my time in providing this essential advice. So you see Graham I have actually done very well out of our relationship without doing anything that breaches the charter.

I’ve been asked for advice and I’ve provided it” Of course he was happy, when he told me how much he normally charges it turned out he was earning more than me! Why have I told the story? Because many clients have said recently that they won’t lease because their accountant has advised them not to.

Unfortunately, in most cases this is bad advice. I am an expert in vehicle finance. I know more about it than any accountant, I probably know more about your legal position than most lawyers and I tend to know more than any dealer – that’s what makes me an expert.

You see whilst you may know a surgeon who carried out a highly successful operation on an ingrown toenail, enabling you to walk properly again, would you want him operating on a heart condition. He may know most of the technical procedures but he’s not a specialist.

You may have a solicitor who looks after all the legal requirements when you move house but if you are accused of a crime would you want him representing you in court or would you seek out a highly qualified and expert criminal lawyer? Taking advice from someone who is not fully trained in a subject can end up costing you dearly.

That’s probably the reason why I have a very loyal group of clients to whom I am eternally grateful. Have you taken advice from an accountant or a dealer and thought it could be wrong, if so ask me, I’ll let you know. By Graham Hill