Mente Group CEO's honest advice well received at CJI Miami
Mente Group CEO Brian Proctor educated delegates on how to improve the ownership experience of business aircraft with a candid presentation at this year’s Corporate Jet Investor (CJI) conference in the US.
As part of the event, which took place at the Biltmore Hotel in Miami from November 28-29, Proctor used his speaker slot to dissuade potential buyers from taking advice from non-professional advisors such as pilots, claiming, “Would you let a doctor build a hospital for you?”
Proctor also warned attendees to use caution with management companies which present financial proformas that show a profit from chartering. He boldly submitted the opinion that chartering never makes money, stating, “If aircraft made money, everyone would own one.” Furthermore, he reminded everyone that the aircraft brokerage space is currently unregulated.
He advocated buyers focus on value rather than price, and outlined some common mistakes, such as not checking whether the value-add items on the specification are included in the purchase. Other potential errors he highlighted included buyers not carrying out their own pre-purchase inspection or taking pending maintenance into account.
Finally, Proctor shared with delegates his ultimate ingredient for ensuring a successful aircraft transaction: A dedicated team including a reputable broker, aviation legal counsel, a technical consultant and finance advisor, amongst others.
“The aircraft buyer’s landscape is full of potential stumbling blocks,” Proctor declared following his presentation. “At Mente, we pride ourselves on our business aviation expertise, and look forward to continuing to work with the rest of the industry to ensure that acquisitions always run as smoothly as possible.”
Proctor will also be speaking as part of the Corporate Jet Investor conference in London, which is taking place at the Landmark Hotel from January 29-30, 2018. His presentation on ‘The market in 2018’ will begin at 09:50 on Monday 29th.
With a BA degree in International Studies in Politics and Diplomacy from the University of Richmond and an MBA from Southern Methodist University, Proctor has served the industry for more than 15 years and been involved in over $5 billion worth of aircraft transactions and over $6 billion worth of aviation business planning. He was recently announced as the new Chairman of the National Aircraft Resale Association (NARA).