Brokers are workaholics, says United Trust Bank

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Nearly half of the brokers working in property and asset finance regularly work more than 50 hours a week, according to United Trust Bank.

The firm found 47 per cent of brokers work 50-hour weeks, far above the national average of 37.5 hours.

Three quarters (76 per cent) of brokers who responded to a recent United Trust Bank sentiment survey said they often work 40 hours or more per week.

Twenty-three per cent say that they work 56 hours or more in a week if evenings and weekends are included.

However, for many brokers those extra hours are being devoted to other tasks than generating business.

One third (33 per cent) of brokers are spending 6 to 10 hours per week dealing with issues such as regulation, accounting, staff management and IT.

A further 28 per cent spend more than 10 hours a week on administration rather than business generation.

United Trust Bank group managing director Harley Kagan says: “This survey proves what we already knew; that brokers are working harder than ever to help their clients source and secure the funds they need to invest and grow.”