Guardian Jet was a proud sponsor of the Corporate Jet Investor London conference, which was held this past January 30-31.
It happened to be the second year second that I (Don Dwyer) spoke before a sizeable audience of our aviation peers.
Alasdair Whyte, the editor and organizer of Corporate Jet Investor content and events, asked me to talk about the evolution of the high end aircraft brokerage business, and where I think it’s headed.
For those of you who’d like to watch my CJI17 address, it’s embedded below.
Here’s a brief recap
To recap what I shared with our peers that morning, I first posed the question, which was asked by Alastair: “Do we have an image problem in the brokerage business?”
Then I offered some evidence to support my strong belief that, no, I don’t think our image is suffering.
That’s because the high-end aircraft brokerage and consulting firms that people entrust their money to see us as a valuable partner in the transaction.
What we do suffer from, however, is what I refer to as a “fragmentation problem.”
In light of the numbers of different aircraft models and the corresponding number of transactions and brokerage companies, I pointed out that it’s impossible not to be somewhat fragmented.
I shared how I think of this industry—this brokerage business—as a very sophisticated “cottage industry.” We have a lot of small players that are impacting the customer experience.
And, because our business occupies a highly unregulated space, it creates a lack of transactional consistency from region to region.
And this leads to a significantly varying degree of competency.
Another issue I raised is how a plethora of regulatory issues are affecting the brokers’ ability to effect competent transactions, and how ballooning financial issues are also affecting those sales.
And then I got into another issue: the ethics that guide our business, along with the ethics underlying broker/customer “exclusivity” and “non-exclusivity.” I shared how the latter can open the door to problems with “bad actors” in our brokerage industry.
Along with all these challenges, however, I reported the good news that I think the aircraft brokerage industry is evolving and maturing. And, as it does, the marketplace is demanding more because brokers are delivering more.
So where are we headed?
In my opinion, we’re headed toward greater transparency, and a more educated customer base.
Corporations and high net worth individuals are more educated because the brokers are making a greater effort to communicate with their clients in a more honest, straightforward manner.
The last item on my list of topics was innovation.
At our company, Guardian Jet, I know that we focus on building our business by being smart about capital, and we’re fine-tuning our consulting business before we build the brokerage.
So it’s great for our customers and, by the same token, it’s great for us.
I finished my talk by encouraging everyone in the audience to make sure that they pick a great broker to work with, one with the right level of expertise and savvy to bring their transaction to a happy conclusion.
And I encourage you to watch the video to hear a much more expanded discussion of these critically important topics in our industry.
Below are some additional images from the 2017 Corporate Jet Investors London event:
You can watch the entire talk on Guardian Jet’s YouTube channel.