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Steven Cross
Business development managers play a critical role in influencing which lender brokers decide to place their business, new research has revealed.
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According to The Adviser’s latest straw poll, just under 50 per cent of all brokers said BDMs “significantly” influence where they place their business, while a further 32 per cent agreed that they do play a role in their business decisions.
Of the 542 respondents, just 8.9 said their BDMs did not influence their business decisions.
Bankwest BDM Adam Baker said he wasn’t surprised by the results.
“It is clear 90 per cent of brokers believe BDMs play a pivotal role in ensuring the customer obtains the most suitable product and the best banking experience they can,” he said.
According to Mr Baker, the better the BDM and the more contactable they are, the more likely brokers will be to do business with them and a particular lender.
“I pride myself on being contactable and readily available which gives comfort to brokers that their questions, queries or urgent matters can be rectified within a timely manner,” he said.
“It's vital I stay up to date and knowledgeable on Bankwest products and policies to ensure I can handle any matter raised by my brokers and deliver the service and accurate information they deserve.”
Mr Baker said that his job sometimes requires him to have ‘difficult’ conversations, but stresses that if he wasn’t upfront with his brokers, they would suffer down the road.
“Transparency and being up front at all times is the most valuable service I can provide my brokers.
“There are days when conversations around deals are not what the broker or customer wants to hear, however I respect the importance of providing my brokers with the information they require to do their job and more importantly get an end result for the customer.
“Brokers appreciate knowing they can call someone and obtain direction on deal scenarios, or support for deals which require a little more attention.”
This research is also reflected in The Adviser’s Third Party Bank Ranking, where brokers make it abundantly clear that the quality of BDMs directly impacts upon the overall success of a lender.
