News Review: BDM
Paying current account referral is a first step by
Marc Callaghan, business
development manager, Santander Intermediary Distribution
I’m delighted to have been asked to write Mortgage Introducer’s inaugural BDM viewpoint column, which has been launched to pro- vide a different perspective to the existing commentary on the market and I’m sure will prove a very popular addition to the magazine. I’ve been in the role for
six years now and as a BDM you’re very much there through the good times and the bad with the intermediar- ies you support, which may be why some describe us as relationship managers but others go further and call us counsellors. Life as a BDM is always in-
teresting and the opportunity to cover the City of London area for the past year has been a great experience, the only downside being that a good part of my life nowadays is spent travelling on the North- ern and Central lines. A typi- cal week for me would involve up to 20 appointments and a lot of time spent on the phone and Blackberry, proactively contacting intermediaries but also managing reactive queries and resolving any problems. We’re also there to guide intermediaries through difficult cases and help them navigate lender systems more efficiently. It was great to see London
host such a fantastic Olym- pics and Paralympics Games and for Team GB to inspire the country like they did and
the good news as a London based BDM was that busi- ness levels in the capital also held up well over the summer months. More good news for the wider market came in the form of increased competi- tion and the launch of our own Key Account exclusive with a market leading rate of 2.79% drove an increase in new business of more than a third in just one week.
Focus on quality With one of the biggest sales forces in the market, service is key to Abbey for Interme- diaries’ offering and it’s inter- esting to have witnessed first hand how the role of a BDM has changed across the indus- try over the past five years to
“The good
news as a London based BDM was that business levels in the capital also held up well over the summer months”
accommodate the new world we all operate in. Our role is no longer just about placing as much business as possible but working together to place quality business and key to this is supporting intermedi- aries on metrics such as the successful packaging of cases and the conversion rate of ap- plications to offer.
Putting it in practice As a BDM, I’m there to offer intermediaries information
14 MORTGAGE INTRODUCER OCTOBER 2012
to our core mortgage offering and general insurance prod- ucts, I’ve also been talking to intermediaries about the range of cash management products available through Cater Allen, which mortgage intermediaries are able to sell. While cash management
London BDM: Going underground
on our policies and proce- dures and also to provide tips that will help them avoid case delays. For instance, the high- est levels of referrals to our underwriters relate to cases involving either a background property or a self-employed borrower and the provision of incomplete information in such cases is something we want to work with intermedi- aries to overcome.
Diversifying Diversification is essential in today’s mortgage mar- ket and my role as a BDM for Santander Intermedi- ary Distribution has evolved throughout 2012 to reflect this. Our vision is to become the intermediary partner of choice and as a sales force, we’re focused on helping in- termediaries meet the wider holistic needs of their client to enhance the service they offer. From the intermedi- ary’s perspective, establishing themselves as a one stop shop for the client will not only help them generate additional income at a time when mar- ket conditions remains chal- lenging but also support their client retention and referral levels. What this means for me on the ground is that in addition
has been a learning curve for most parties the reaction so far has been positive, with intermediaries mindful that although the implementation of the Retail Distribution Re- view at the start of next year won’t directly impact the mortgage market, the advent of fee charging in the IFA world is likely to impact con- sumers’ expectations of their advisers. More than ever, cli- ents are going to be looking for an adviser who can offer them a more holistic solution and someone who can really add value.
Current account referrals As a provider that wants to distribute more products through intermediaries, we’re always working hard to sup- port intermediaries with great products and service. Devel- opments to watch out for over the coming months include a new platform which will al- low intermediaries to refer their clients to Santander to open a new current account and in return receive an in- troduction fee for all success- ful account openings, plus a new tool to help intermediar- ies on the move. At Santander Intermediary Distribution, we’re looking forward to a strong Q4 and on behalf of all the team, we will be continu- ing to work closely with our intermediary partners to sup- port them the best we can.
www.mortgageintroducer.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52