You have to understand the why, why is he not marketing the TA?  I think he is making the right move by saving in the shortterm on marketing expenses.  

The TA in itself is not unique, it offers the same services and competitive prices other Transfer Agencies have.  It costs money for companies to move to a different TA, so why switch TA's if you are going to be getting the same services?  Matt wants to make our TA services unique.  To do so he needs to offer something in addition to and the brokerage firm will help give BCAP an edge and make it worthwhile for companies to switch TA's.  You have to consider all the parts of the business plan and how they will benefit the other parts.  The whole will be better than the single part.