Out go the BDMs
Newpark has decided it doesn't need business development managers anymore.
Wednesday, September 26th 2012, 7:12AM 
7 Comments
Dealer group Newpark says that it doesn't need to have business development managers anymore and has disestablished the four positions it had in this area.
Managing director Darren Gannon says when the group asked its 200-plus members what they wanted most business development managers came in at number 10.
Of Newpark's four former BDMs three are now advisers themselves and the fourth has joined another group.
The top request from its advisers was for leads. This is one of the reason Newpark runs two lead generation programmes for its group.
Gannon says they have been very successful and if the group was a life insurance company it would be the third biggest in the market on business written in the quarter with only Sovereign and Partners Life being bigger.
Number two on the list was help keeping out of trouble with the Financial Markets Authority and the number three request was around succession planning and bringing new advisers on board.
Gannon says the business now has 49 shareholders, most of them advisers and the group has being paying good dividends.
While he had considered selling the business in the past, notably a deal with Australian-dealer group Professional Investment Services (PIS) Newpark is not for sale. In New Zealand PIS has since merged with Minerva and BIG to form the Ginger Group.
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Comments from our readers
That does not come across as spoon fed to me? And if it gets you in the door a little bit easier then more power to them, as opposed to doing a hell of a lot of donkey work to get the same result.
But you keep cold calling if that's what pulls your chain Burnsy and it makes you feel good:)
There is a saying in this industry "work smarter not harder", you should try it, it just might work for you. Good luck and good night.
I have got to agree to with Richard and Bob - given the excellent CRM systems available to our profession, why bother trying to create another?
Richard has an enormous investment in eBroker, and I'm sure that the other vendors have similarly invested. I know too, that the ongoing maintenance and development costs are significant.
One can only hope that Newpark is ready to commit to the inevitable enormous cost of keeping it current as things develop over the years ahead.
Graeme – another truck-load being backed down the driveway as we speak to fund coding of a new module next year. Still holding off ordering the super yacht brochure.
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