Accord has reduced the number of BDMs it has on the road from 33 to 28 and has adopted a broker-based, rather than postcode-based, method for dictating where its workforce will be distributed; allowing for greater emphasis on the South East.
The topic of BDMs has been highly contentious in recent months, with new entrants paying big money to recruit the best people. Accord’s move is a response to the changing environment.
Linda Will, managing director at Accord, commented: “We are now three-and-a-half years in and with our eye on the future and where we get our business from, we have completely restructured our BDMs. Accord has traditionally not lived up to expectations in the South East and at the minute, this is where a lot of business is being conducted. The key message is brokers won’t notice anything different but we will be able to up the ante in the South East.”
The introduction of the new entrants has pushed BDM costs up and Accord admitted it had been affected, with BDMs leaving, while the packages for those at the lender had improved.
Will believed the restructuring would help Accord get more value for money from its BDMs and allow them to give more support to those brokers proving them with regular business.
Paul Hunt, head of marketing at Platform, agreed the role of the BDM was changing.
“BDMs are valuable, but also an increasingly expensive resource. The feedback we’ve got from brokers is they want to see more of them. However, their role has changed from a few years ago. Brokers want BDMs to add value to their business and not just tell them about the products and services that are on offer so we have to provide the tools to meet their requirements.”
