GB Financiials’ group engagement a ‘superpower’

GB Financiials founder Niti Bhargava expects important group engagement efforts to lead to her 90-day-old brokerage rising with goal into long-term, sustainable profitability.

Bhargava, who restructured and rebranded the enterprise with husband Varun Bhargava, mentioned that they had chosen to give attention to group engagement from the outset.

“We’re indulging in plenty of community-based actions, which is form of a superpower, not just for enterprise profitability; it helps us quite a bit in successful the focused viewers’s belief,” she mentioned.

For instance, Bhargava (pictured above) has continued operating a quarterly monetary literacy program. Initially for ladies from India, it has expanded to incorporate anybody from migrant communities.

“For the final 18 months, we have now helped all totally different backgrounds with monetary literacy, together with individuals from Arabic, African and Chinese language backgrounds – everybody has been a part of our program,” Bhargava mentioned.

This system noticed Bhargava recognised on the 2024 India Australia Enterprise & Neighborhood Alliance (IABCA) Awards at Parliament Home, as a finalist for the Neighborhood Providers Excellence Award.

The enterprise is lively in cultural occasions, whereas Bhargava has been wanted as an professional for SBS radio interviews in Hindi and Punjabi languages, the place she supplies perception for these communities.

Bhargava has additionally been introduced as a finalist for the Neighborhood Champion of the Yr Award on the upcoming Australian Professionals of Color (APOC) awards being held in November 2024.

Although Bhargava mentioned GB Financiials was nonetheless within the “very basis stage” of the brand new model, it  intentionally took a special strategy to that of many different brokerage companies.

For instance, the enterprise shouldn’t be centered on conventional referral companions like actual property brokers and accountants, however as an alternative companies with related views on doing the appropriate factor for group.

“For instance, we have now simply signed up a referral associate who has been within the NDIS enterprise for a really very long time. A core coronary heart worth they share with us is monetary well-being of their staff,” Bhargava mentioned.

“They really give their staff the time to grasp their monetary well-being, in what’s now a really essential time interval the place all of us are feeling the ache of price of dwelling.”

The facility of group

Bhargava expects the community-centric strategy to repay for the enterprise; for instance, the monetary literacy program recognition has already resulted in new enterprise alternatives.

“That has opened the doorways for us, for various types {of professional} partnerships, or with individuals who now recognise what sort of enterprise we have now.”

Nevertheless, the enterprise outcomes come after placing goal first; Bhargava has been public about need to place “goal over revenue, individuals over numbers and love over all the pieces”.

Over the subsequent two years, Bhargava mentioned GB Financiials aimed to win itself a singular place in the neighborhood, the place shoppers realise that it was not only a transactional-based mortgage broking enterprise.

“We wish to have that popularity, that picture, the place shoppers ought to know that, when they’re coming to us, we could have the most effective curiosity for them in our hearts,” Bhargava mentioned.

The enterprise expects the socially accountable strategy to be a key market differentiator, at a time when rates of interest have been rising and banks are nonetheless declaring increased earnings.

“The shoppers are a bit indignant, they’re annoyed. I do know brokers, and it may be fairly laborious to win the belief again from the shopper; to construct that trusted group round you along with your shoppers is tough,” Bhargava mentioned.

 “That is our foremost objective for [the] subsequent two years, and positively, you already know, on the again of that rising group of trusted referral companions and shoppers, that’s going to worthwhile.”