GB Financiials’ community engagement a ‘superpower’

GB Financiials founder Niti Bhargava expects important neighborhood engagement efforts to end in 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 that they had chosen to give attention to neighborhood engagement from the outset.

“We’re indulging in a number of community-based actions, which is type of a superpower, not just for enterprise profitability; it helps us lots in profitable 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, now we have 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 & Group Alliance (IABCA) Awards at Parliament Home, as a finalist for the Group Providers Excellence Award.

The enterprise is energetic 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 Group 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 will not be centered on conventional referral companions like actual property brokers and accountants, however as an alternative companies with comparable views on doing the correct 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 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 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 types {of professional} partnerships, or with individuals who now recognise what sort of enterprise now we have.”

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

Over the subsequent 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 need to have that repute, that picture, the place shoppers ought to know that, when they’re coming to us, we could have the very 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 larger income.

“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 along with your shoppers is tough,” Bhargava mentioned.

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