GB Financiials’ neighborhood engagement a ‘superpower’

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

Bhargava, who restructured and rebranded the enterprise with husband Varun Bhargava, mentioned they’d chosen to concentrate on neighborhood 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 profitable the focused viewers’s belief,” she mentioned.

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

“For the final 18 months, now we have helped all totally different backgrounds with monetary literacy, together with folks 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 Companies Excellence Award.

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

Bhargava has additionally been introduced as a finalist for the Neighborhood Champion of the 12 months 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 distinct strategy to that of many different brokerage companies.

For instance, the enterprise is just not centered on conventional referral companions like actual property brokers and accountants, however as a substitute companies with comparable views on doing the proper factor for neighborhood.

“For instance, now we have simply signed up a referral accomplice 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 workers,” Bhargava mentioned.

“They really give their workers the time to know 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 residing.”

The facility of neighborhood

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 kinds {of professional} partnerships, or with individuals who now recognise what sort of enterprise now we have.”

Nevertheless, the enterprise outcomes come after placing function first; Bhargava has been public about want to place “function over revenue, folks over numbers and love over every part”.

Over the following two years, Bhargava mentioned GB Financiials aimed to win itself a novel 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 one of the best 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 growing and banks are nonetheless declaring increased earnings.

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

 “That is our important aim for [the] subsequent two years, and positively, you recognize, on the again of that growing neighborhood of trusted referral companions and shoppers, that’s going to worthwhile.”