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Heavey to leave segmentation legacy

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Australian Broker | 29 Jul 2011, 06:00 AM Agree 0
St. George's Steven Heavey has named broker segmentation as a key achievement made during his tenure at the bank, as well as the recent resurrection of year one trail commission
  • JB | 28 Jul 2011, 04:27 PM Agree 0
    This was on the cards for a while. With St George underperforming badly in the broker space one would expect more changes to the way they do business in the upcoming months. Actually supporting all brokers with a viable BDM structure would be an excellent start.
  • Ozboy | 28 Jul 2011, 04:41 PM Agree 0
    Forget the viable BDM structure, just get your current credit policy's and qualification calculator onto the broker website then we would feel confident submitting deals.
  • Dean | 28 Jul 2011, 04:49 PM Agree 0
    Why don't you try writing some business with them JB. Our BDM is the best around and we've got a great branch manager who also looks after our clients every time. If you were a BDM would look after ALL brokers or would you focus where most of your business came from.
  • Garry | 28 Jul 2011, 05:59 PM Agree 0
    Spot on Dean. You wont get support if you dont give it.Has to work both ways.
  • larrywalker | 28 Jul 2011, 06:01 PM Agree 0
    Since the broker site was changed I also fell into the trap of thinking the calculators were missing. In fact if you scroll down an almost empty page you will find them on the next page. If they lift there game and assess applications in a timely manner I will consider using them again.
  • GregS | 28 Jul 2011, 06:20 PM Agree 0
    There calculators have to be the most annoying - access to their policy information is even worst
  • Ozboy | 29 Jul 2011, 07:59 AM Agree 0
    Hey larrywalker you are right, unfortuneatly these are not the calculators that the assessor's use, neither are the credit policy's listed on the broker website, so we try the broker support phone line and get wrong information about the policy....luckily they (and us) tape our conversations so they have admitted their mistake but it's 3 days of drama's and tooing and froing that we could all do without. Our BDM is good and has taken this issue's up with senior management but nothing has happened. When you add this to the fact that our commission is based on quality applications it's hard to reconcile what they say in the press with their actions.
  • King Wally | 29 Jul 2011, 08:59 AM Agree 0
    The Westpac brand will leave the broker market first quarter 12, STG and BoM will fill be the broker brands, WBC Retail and RAMS niche markets, makes sense. Watch for a whole lot more change. The majors don't love nor care for brokers "that much"!
  • Mark | 29 Jul 2011, 09:03 AM Agree 0
    Outdated policies - i referred a deal to them in May and they messed about with it for 5 weeks so I referred the deal to ANZ and bang it was approved. They have really outdated system too. I went to log the application via my mac and realised you need internet explorer.. come on st george you are bank for god sakes
  • JBJB | 29 Jul 2011, 10:10 AM Agree 0
    Dean & Garry, I'd be interested in writing business with them. However, I know from experience this is not easy. If you are not a big supporter you are unable to contact a BDM. Therefore you are consigned to a call centre for answers - a call centre that doesn't have all the answers and doesn't particularly care. A BDM will never call by seeking to promote their products/systems and so the cycle of non performance continues. By your suggestion, I should now persist with this until I am finally able to show I support St George and then they might consider actually assisting my business? Are you nuts? Do I need St George that much? Are my clients begging me for St George? And who is the customer here? If they want the business they need to go out and get it. If they can get their heads around this they might be in with a chance. From the latest move, they just may be starting to understand.
  • Keith Bridges | 29 Jul 2011, 11:54 AM Agree 0
    Changes in this ever changing landscape inevitable, but credit where credit due, Steve Heavy has succeeded in alligning segmentation and support for the broker channel a very difficult environment, a Westpac buyout, GFC, tigher lending guidelines and a property market slow down. I wish Steve the best in the future.
  • oldBroker | 29 Jul 2011, 12:01 PM Agree 0
    King Wally... you are suggesting Westpac is leaving the broker market; how solid is this rumour?
  • Not a happy Jan | 29 Jul 2011, 12:58 PM Agree 0
    OzBoy - do you let the STG call centre know you are recording them? You do realise that it's illegal to record someone without their consent. You're lucky STG haven't found out or I doubt you'd be writing any business - STG or otherwise with such a massive privacy breach.
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