So you want to be a BDM for this packager? Don’t bother

From Andrew Brownlie

This is a warning to anyone thinking of joining a new packaging company by the name of Britannia Finance and Mortgages.

I joined the company on September 14 as a BDM after turning down another good position due to Britannia Finance’s persistence and good offer.

The thing I questioned on accepting the offer was the targets Britannia Finance had set. They expected me to bring in 10 new introducers per month (not a problem), but each one of those introducers was expected to send in 10 cases per month for packaging.

Is there a broker out there writing 10 sub-prime cases per month? If so, would they send the lot to a packager they have probably never heard of?

I raised this with Britannia Finance and was told I would be given time to settle in and achieve the targets.

On November 11, I was sacked, along with at least two other BDMs, for not generating enough business. In the eight weeks I was there I signed up 23 introducers and pulled in at least 29 cases. I had no support, no feedback, no training – in fact, nothing. Us BDMs were simply sacked on the spot and without warning.

Be warned, if you find yourself walking through Britannia Finance’s door for a job, turn around and walk right out again. Save yourself the time and trouble. I would not treat my enemies the way Britannia Finance treated us BDMs.

Oh, and if there’s anybody out there looking for two or three BDMs, I know some good guys.

Andrew BrownlieEx-BDM,

Britannia Finance and Mortgages

By email

Send your duff leads to me and we can compare lists

From Vijay Patel

I frequently read letters regarding advisers’ experiences with lead generation companies. I would like to relate my experience with paaleads.com.

Of the first seven leads emailed to me, three never answered or returned my phone calls. I got the strong impression these people did not exist. To date, I have had precisely no conversions in spite of not charging fees. So much for the advertisements claiming 39% conversion rates.

I would like advisers with similar experiences to send me names and addresses of leads who did not answer any calls. We can then see if the same contacts keep cropping up.

I have decided I’m not going to waste any more money on lead generation companies. I’m better off giving to my favourite charity as at least I know it’s going to a good cause.

Vijay PatelBy email