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Does your BDM have one foot out of the door?

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Australian Broker | 19 Jun 2013, 03:00 AM Agree 0
A whopping eight out of 10 BDMs are planning to leave their current role in the next three years
  • Gold Coast broker | 19 Jun 2013, 08:13 PM Agree 0
    Most of the bank BDM:S just rotate and cant help and wont return phone calls
    they all go to the MFAA to find the next GIG
    there are some really Great No Bank BDM"S
    who answer there phones
  • Papery | 20 Jun 2013, 10:09 AM Agree 0
    Me thinks this article relates primarily to the Financial Planning Industry. Traditional (Mortgage Broker) BDMs are less effective than a few years ago with many of the office based call centre Broker support staff more able to sort out issues with live deals in progress.
    A lot of BDM's are good spruikers for their employers, great for the occassional lunch but you cant really rely on any pre submission promises from them until the deal hits the credit assessors desk.
    Many of the Lenders have policies which curtail escalation requirements we put to them, which is usually a critical function & where Brokers do ask for BDM support. I dont need to pester a BDM to tell me about their published policies, processes IR & current offers...but I do need them to help get through sticky deals & escalate with approvals, vals, docs, pre settlement certifications etc when timeframes & Bank work flows get tight.
    Do they deserve salaries of $100k+ gpa.... I dont think so, but I wouldn't mind a piece of that!
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