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GFS in the News

Global Finance ticks 11 Awards in 2016

Monday, 13th February 2017

Global Finance created history in 2016 by scooping 11 awards, which accounts for one award every working month of the year and the range of organisations that have recognised this company for its quality of products, services and volume of business is a matter of pride and gratification.


To read more on their site: Indian Newslink


Friday, 25th November 2016

New Zealand’s top mortgage and insurance adviser, Global Finance has won Westpac Auckland Business Awards 2016 for Auckland South for Excellence in Marketing. The award is for building superior client engagement and loyalty through effective communication using online and traditional media channels.

Indian Weekender

NZ's top mortgage adviser celebrates 17th anniversary

Friday, 18th March 2016

Media persons turned up at the GFS office on 9th March not just to celebrate our birthday but also get a sense of our future plans. Indian Weekender writes about how GFS has been serving home owners for 17 years with mortgage brokering and insurance advisory services in the following article.

Auckland Mortgage Broker celebrates 17 years of saving interest for home owners

To read full article on the following sites, click on their names:

Indian Weekender
Indian Newslink
Kuk Punjabi
The NZ Mortgage Mag

2 mins with Ajay

Monday, 15th February 2016 - NZ Adviser 

NZ Adviser e-magazine in a tête-à-tête with our Founder and MD Ajay Kumar

When NZ Adviser magazine asked me the highlight of my career, it gave me an opportunity to reflect back on what I had achieved and what touched me the most. I realised nothing motivates me more than a family who is able to save on their biggest cash outflow (mortgage payments) on their biggest asset (their home). The smile it brings to their faces and the peace of mind it gives them when I restructure their mortgage to suit their needs and paying capacity.

Click here to read more on their site.

GFS wins ANZ Bank’s top broker awards

Friday, 8th January 2016 

GFS holds its position as one of the top brokers for three consecutive years. 

Year 2016 ended with a big bang for Mr Ajay Kumar of Global Financial Services. In December 2015, he was awarded two top broker awards from ANZ Bank: Mortgage Adviser of the Year 2015 for being the number one mortgage broker for the year of ANZ Bank and Valued Business Partner of the Year 2015 for consistently being one of the top brokers for three consecutive years. It was a great for the GFS team to win the awards from New Zealand’s and Auckland’s largest home lender.

Mr Kumar extended his thanks to his GFS customers and the GFS team. He said that it was only with the support of the 4,000 families that they could have achieved this. GFS’ investments in the latest technology, infrastructure, CRM system developed in-house and getting the best people to be a part of the organisation has helped them provide the best service and savings to their customers.

To read the full article on the following sites, click on their names:

Indian Weekender
Nz Adviser
Good Returns
Mortgage Rates

The rise of the Kiwi-Indian community in New Zealand

Friday, 12th February, 2016 - Indian Weekender

On its 200th issue, Indian weekender covers Ajay Kumar of GFS as a significant face among successful Kiwi Indians.

Statistics New Zealand has indicated a growing trend in the number of people immigrating to New Zealand. This figure has been boosted by the numbers of students from India and China. Amongst the long-term immigrants, though, after the number of people returning from Australia, the largest influx of skilled migrants, is from India. 

It is indeed a matter of pride that the five per cent of the total Kiwi population contributes to over eight per cent to the New Zealand economy and growing. That is a real indicator of the growing face of the Kiwi Indian. Coming from a Country which does not have dole or any such social-benefit system, we come engrained with the capacity and attitude to work hard, persevere and make our place. It is thus not surprising to see that Indians today are truly contributing in all significant spheres in the community. We have always been known for our business acumen, however, we are now making our presence in the Public Sector, the Emergency Services, the Medical Services, the Corporate and Finance sectors and even New Zealand Politics. The Kiwi Indians are now a growing force that can no longer be overlooked. It is a voice that is being heard loud and clear and the one medium that never pulls back from bringing out such positive stories of the Indian community is Indian Weekender. Indeed, we speak the language of the community and are the kaleidoscope of the Kiwi Indian community to the world.

Ajay arrived in New Zealand in 1998 with his wife and two children. He single-handedly started his company and is now one of the largest mortgage advisers and a leading insurance advisor in New Zealand. He is a proud father of a son who is a qualified software engineer and MBA, and a daughter who has majored in Property Finance and Commerce. Ajay gives the credit of his success to his customers, his team, banks, insurance companies and well-wishers.

Click here to read full article on Indian Weekender website. 

GFS bags Westpac Auckland Business Award

24th November 2015

Only mortgage broker to win this award in 2015 for customer service.

NZ Herald writes about the Westpac Auckland Business Awards - 2015 South. They talk about how South Auckland is attracting large manufacturing, processing and exporting businesses as well as SMEs providing specialist services. They can't help but notice that when it comes to South Auckland excellence in customer service is what stands out.

Westpac Auckland Business Awards South finalists such as manufacturers Nauhria Precast Limited, Palladium Homes and Rayglass Boats; and professional service providers like Jet Park Hotel & Conference Centre, Harcourts Preet & Co and Topcare Early Childhood Centre competed strongly in this area.

Amongst such heavy competition from across industries such as Education, Hospitality, Boat manufacturing, Real estate, etc. Global Financial Services was the only mortgage broker to win this award in 2015.

Westpac Awards - NZ Herald Dec15-40

NZ Herald goes on to say that South's successful businesses are achieving a combination of competitive pricing with prompt servicing and a quality product. They pay attention to fast turnaround times, thoughtful suggestions and improvements to save their customers time and money -- and to a strong focus on creating a memorable customer experience.

Since 1999, Global Financial Services has been assisting Kiwis to get loans to purchase their first homes, investment property, business or commercial property.

Says director Aseem Agarwal, "buying a house is the biggest cost, asset and liability for people, and to have the right advice is very important.

"So to be recognised for customer service, for giving the right advice, which is not only a huge challenge and responsibility but equally rewarding, is great."

To read full article on the following sites, click on their names:

NZ Herald
Indian Newslink

NZ Adviser
Good Returns

GFS wins Best Financial Adviser award

Friday 28th November 2015

Read here for excerpts of media coverage on GFS winning 2 IBA awards - Best Financial Adviser (Mortgage & Insurance) and Best Medium Sized Business. The following excerpt is from NZ Adviser.

Global Financial Services (GFS) has taken home two awards from the Indian Newslink Indian Business Awards 2015 (IBA) on Monday night, the first for Best Financial Adviser (Mortgage & Insurance) and the second for Best Medium Sized Business.

 The Best Financial Adviser award was the first year the category was announced and GFS managing director Ajay Kumar told NZ Adviser winning the award had special significance to them because nominations were open to all Indian advisers New Zealand wide.

“In the eyes of the judges, we are the best financial adviser in the Indian market,” says Kumar.

Kumar says next year they aim to be a contender for the Business Excellence in Information & Communication Technology category also, due to their unique CRM system. 

“Very few adviser companies have their own technology,“ he told NZ Adviser, explaining GFS is fortunate to have its own technology and one that is particularly useful for financial advisers. 

“We are able to modify the CRM system according to our needs as is necessary for us, so it is very quick and in-house we have testing facility also.” 

Click on the names below to read full article on the following news sites:

NZ Adviser
Indian News Link


NZ Herald writes about how GFS save interest on home loans

Thursday 19th November 2015

NZ Herald writes about how Global Financial Services has been helping its customers save interest on home loans and get the right life insurance suited to their needs. The article goes on to say how GFS uses the revolving credit system and has developed a custom software package that helps clients reduce the amount of interest they pay. Revolving credit schemes can take into account all cash on hand to reduce the amount of loan outstanding, and so reduces interest charges.

Click here to read more on NZ Herald website.

Ajay speaks on Radio Live

6th November 2015

GFS Director, Ajay Kumar speaks on Radio Live - 10 am this Saturday 7th November on The Mitre 10 Home & Garden Show.

Tony Murrell, Designer Hamish Dodd and Celebrity Chef Helen Jackson ask Ajay how their listeners can benefit from going to a mortgage adviser.

Click here to know more about the show on Radio Live website.

Offer for Indian Newslink readers

15th February 2016: Click here to read terms and conditions of our offer for readers of Indian Newslink ending on 29th February 2016.

ASB Bank's #1 Broker award goes to GFS

October 2015, Auckland - Multiple Publications

Many leading New Zealand and Financial publications covered the news of GFS winning the top mortgage broker award for 2015 by ASB Bank. Read here for excerpts and links to those news pages.

Mr Ian Boyce, ASB Bank’s General Manager of Business Banking and Retails Specialist Services presented the Number One Broker Award for New Money Advanced Award to Mr Ajay Kumar of Global Financial Services Ltd (GFS) for the year July 2014 to June 2015. This means that GFS is the largest mortgage adviser for ASB Bank for the year. ASB Bank team members present at the ceremony included Mr Marc Oliver, ASB Bank’s Head of Third Party Banking, Mr Richard Speir ASB Bank’s Regional Manager, Auckland Business Banking, Mr Parvez Bhandari, Daniel Irwin, Broker Center Manager and Ms Maggie Ip.

This is the second year in a row that GFS has won the top broker award from ASB Bank. Two weeks back, GFS achieved the status of being the first Indian Financial Adviser to win the award for Excellence in Customer Service from Westpac Auckland Business Awards (South) 2015, Auckland Chambers of Commerce and ATEED.

“It is our honour to get such an important recognition from a leading bank and he sincerely thanked all the customers and team members. He also appreciated the support of the entire ASB Bank team under the stewardship of Mr. Ian Boyce,” says Mr Ajay Kumar.

Click here to read our press release.

To read full article on the following sites, click on their names:

Newsfeed on ASB Bank website
Good Returns
Mortgage Rates
Indian Weekender
NZ Adviser

GFS wins Auckland Business Award for customer service

October 2015, Auckland - NZ Adviser

Online finance magazine talks about why GFS won the Westpac Auckland Business Award (Auckland South) 2015 for Excellence in Customer Service. Following are excerpts from the article.

Mortgage and insurance company Global Financial Services has taken home the award for Excellence in Customer Service Delivery at the Westpac Auckland Business Awards 2015, beating finalists from across all industries, not just those within financial advice.

“It’s expected from financial advisers to protect the customer interest - (the adviser) interest is not supreme, customer interest is supreme.”

Kumar says their focus is on going above and beyond the customer’s needs and maintaining long-term relationships for life.

“We are not just fulfilling the needs of the customer, we are going beyond that so that they are benefited,” he says. “We use our skills, experience, technology and our full team is dedicated.

GFS is the first financial advice company in South Auckland to receive the award in customer service excellence.

“It is a great honour because it was competing not only with financial advisers who are in the same business but competing with all the industries,” said Kumar.

The company has won 24 awards so far from organisations including Auckland Chambers of Commerce, ANZ Bank, ASB Bank, AIA Insurance and Indian Business Awards.

Click here to read full article on

Top Financial Adviser gets another top Award

15th October, 2015 - Indian Newslink

Leading Auckland based newspaper for the Indian ethnic community talks about how GFS has been a high performer at awards from prestigious organizations.

Here are some excerpts from the article:

GFSL has won High Performance on ‘Top in Category’ awards of major commercial banks including ANZ, ASB and Westpac. As mentioned in these columns in the past, GFSL won the Supreme Business Award at the Indian Newslink Indian Business Awards (INLIBA) 2010, in addition to other individual awards. The company won in a number of categories at our 2012 and 2014 Awards. These include recognition for Customer Service (earlier known as Professional Service), Marketing, Best Small Business, Best Medium-Sized Business, Best Young Entrepreneur of the Year (his son Aseem) and the Supreme Business of the Year award.

The GFSL-Client Agreement is one of the most exhaustive documents that exist in the mortgage business. It sets out a step-by-step description of the application process, choice of banks available to the customer, options for fixing or floating interest, desired interest rate (where possible), the fee payable, obligations of GFSL and the customer, loan repayment schedule, income and expenditure analysis and a host of other issues.

Click this link to read the full article.

Auckland mortgage giant turns 16!

31st March, 2015

GFS marks 16 years of service in New Zealand's mortgage and insurance industry. 

If this report were to appear next month, figures relating to the performance of Global Financial Services Limited (GFSL) would be markedly different, denoting higher levels of growth, productivity and customer satisfaction.

However, one factor would remain unchanged- GFSL would be the Number One Indian Mortgage Adviser and Insurance Adviser, and among the top two or three in the country.

We would undoubtedly run another story with the latest figures, for achievements of such companies are not only a matter of pride to the Indian community but also a source of inspiration to others.

The Company’s performance as at March 5, 2015, the day of its 16th anniversary, was a further indication of the progress registered over the previous 12 months. Mortgage loans arranged was in excess of $3 billion while the insurance premium written for its growing clients was more than $2.5 billion.

Managing Director Ajay Kumar was justifiably pleased when he addressed a media conference on March 6 at his office in Mangere, Auckland.

Click here to read full article on Indian Newslink website. 

Auckland property prices

2nd October 2015, Auckland - NZ Adviser

Financial Publication NZ Adviser Online takes opinion from Ajay Kumar of Global Financial Services on Auckland property prices.

Recently, New Zealand Deputy Prime Minister and Minister of Finance, Bill English warned that there could be a crash in property prices of the Auckland housing market. The market has been abuzz with speculation whether Auckland residential house prices will continue to rise. In another move, the government had also implemented a rule requiring thirty percent deposit when taking a home loan for buying an investment properties (i.e. properties that are not owner-occupied) in Auckland. 

Ajay Kumar of Global Financial Services (GFS) is New Zealand's leading mortgage broker based out of Auckland. Hence, the publication solicited his views on this situation and a reaction to Bill English's statement.

Ajay advised that in the short term, he does see a softening of demand for investment properties. However, he maintained that demand apparently continues to outstrip supply - considering the hundreds of pre-approvals that were recently arranged by GFS (or, Global Finance as most customers call us). Similarly, Ajay said that thousands of pre-approvals were still there with the banks. In this context, any sharp fall in prices of Auckland residential properties seems unlikely.

However, in the long run, in context of the 8 year crash scenario talked about by New Zealand Finance Minister Bill English, it is difficult to predict how much supply of housing will be actually added in the next 5 years compared to the continued demand for housing.

Click here to read full article on


Global Finance expertise gets customer a surprise claim of $25,000

14th May 2014, Auckland - Indian Newslink

When Narendra Patel visited Global Financial Services Limited (GFSL) Director Ajay Kumar last month for the annual review of his insurance policy, he casually mentioned that he had a stent fixed during an angiogram performed last year and that he went through serious trauma. “You should claim compensation under your policy,” Mr Kumar suggested. 

Auckland Mortgage and Insurance Adviser with the customer

“That was 18 months ago. How can I claim now?” Mr Patel asked. “That is our responsibility. We will apply to the insurance company (AIA) if we have the relevant medical documents and certificates,” Mr Kumar said.

Mr. Patel provided the requisite documents and less than a fortnight later, he was stunned to learn that the insurance company had agreed to pay $25,000 trauma cover. 

GFSL has thousands of customers making it the largest Indian-owned and operated mortgage and insurance broker company in New Zealand.

Since its establishment in 1999, the Company has obtained more than $2.5 billion as mortgage loans for its clients and written insurance policies valued in excess of $2.5 billion.

Click here to read the entire story. 

GFS walks away with 2 Indian Business Awards

Friday, December 12, 2014

Global Financial Services Ltd (GFS) is on a winning spree! At the recent Indian Business Awards, it has won not one but two awards: Excellence in Customer Service Award and Best Medium-Sized Business Award.

Over the years, GFS has been ranked as one of the top brokers/insurance advisers in New Zealand by ANZ Bank, ASB Bank, Westpac Bank and AIA Insurance. 

After receiving the awards at Indian Business Awards held last month at Sky City Convention Centre Mr. Ajay Kumar, Managing Director of GFS said, “For us the most important award is the Excellence in Customer Service. Today, we are what we are because of our customers and our team’s dedication to providing the best customer service. Every day we fulfil hundreds of customer requests who want to either enquire about their mortgage or make changes to it.”

Click here to read the entire story. 


Indians top the New Zealand mortgage market

Friday, August 08, 2014

The New Zealand Mortgage Mag ranks GFS as one of the top most brokers in the country.

Indians are the top mortgage brokers in the country, according to ‘The New Zealand Mortgage Mag’. Top three positons in the recent top broker list released by the well-known mortgage magazine are occupied by the Indian brokers. According to the magazine Squirrel mortgage, Global Finance Services Ltd. (GFS) and Professional Financial Solutions Ltd. (PFS) are the top three mortgage brokers in the country respectively.

The ranking has been decided on the basis of the number of loans settled and the amount loaned to the customers during the year financial year 2013 by any mortgage adviser. Where Squirrel’s team has generated settlement of $300m from 700 deals, GFS has given a tough competition with $290m settlement amount from 702 deals.

It is noticeable that where Squirrel has topped in multiple brokers’ list, GFS has been standing high with its top position in single brokers’ list. Difference between multiple and single broker is that a single broker originates all loans alone by itself, whereas in case of multiple broker, a team of brokers originates a total amount of loans.

Indians are doing great jobs in various sectors in New Zealand and this list has also reveal how Indians are growing in business and finance sector. This is more commendable for the brokers who have single-handedly achieved this status, i.e. Ajay Kumar from GFS and Ravi Mehta from PFS.

Considering single broker category Professional Financial Solutions limited (PFS) has grabbed the second position in the list originating 276 loans and a settlement amount of $112m. Ravi Mehta, the winner broker, of PFS, says, “This year has seen a 25% increase in volume.”

It is believed based on feedback from the banks that Mortgage Advisers are contributing about a third of the whole New Zealand mortgage business. It shows the high confidence of the customers in mortgage advisers. 

To read full story on the following sites, click on their names:

Indian Weekender
Indian Newslink
Z Mortgage Magazine 

Auckland mortgage broker wins top bank award

GFS takes home ANZ Business & Commercial Adviser of the Year award.

Auckland based Global Financial Services (GFS) Limited won the ANZ Business & Commercial Adviser of the Year (2013) last month. The Company’s Managing Director Ajay Kumar received the Award from Baden Martin, ANZ Head of Mortgage Adviser Distribution. The Award recognised the volume of business referred to ANZ Business Banking and Commercial teams in 2013. Mr Martin said that his Bank had developed a strong business relationship with Mr Kumar over the past several years. 

Auckland Mortgage Broker wins award

“ANZ has enjoyed building strong relationships with the growing number of staff that make up the GFS team. As Mr Kumar has expanded his business, ANZ has worked alongside his team to provide them with the support necessary to grow their customer base and assist with this expansion. ANZ is well placed to provide solutions to Global Financial Services significant network of customers through our Retail, Business Banking and Commercial teams,” he said.

Mr Martin said that ANZ recognised the value that the strong working relationship delivered for the Bank and GFS. Mr Kumar has been recipient of previous awards from ANZ. 

Click here to read the entire story. 

GFS bags largest Mortgage Adviser Award

Friday, 14 November 2014

The largest mortgage and insurance brokerage firm of Indian origin has won yet another Award from one of the largest commercial banks in the country. Auckland based Global Financial Services Limited (GFSL) was won the ‘Number One Broker for New Money Advanced Award’ by ASB Bank in its entire network for the financial year 2013-2014. The first award of its type from ASB Bank made a significant addition to the impressive array of Award displayed at the offices of GFSL in Auckland. 

To read a full story on the following sites, click on their names:

Indian Weekender
Indian NewsLink


Global Finance sponsors Sports Awards

Global Financial Service Limited becomes the Title Sponsor of the Indian Newslink Indian Sports Awards.

We are happy to announce that Auckland based Global Financial Service Limited (GFSL) is the Title Sponsor of the Indian Newslink Indian Sports Awards 2014, entries to which will be open until February 28, 2014.

GFSL Managing Director Ajay Kumar said that he was delighted to be associated with the Sports Awards, which have been growing since they were instituted in 2012.

Auckland Mortgage Broker sponsor sports awards

“This is a major initiative to encourage members of the Indian community to be involved in sports. While we have had the honour of scores of men and women who have made us proud with their achievements in various aspects of sports, it is important to motivate our young people, including school and university students to evince interest in the field,” he said. Mr Kumar said that apart from boosting the morale and image of the community, involvement in sports keep people in good health. 

Click here to read the entire story on Indian Newslink website. 

Two Billion dollars & still going strong...

14th Feb, 2014, Auckland - Indian Weekender

Click here to read full article in Adobe PDF format.

Indian Weekender profiles Global Finance on its 15th anniversary and its significant contribution to New Zealand home owners.

Ajay Kumar and his work at Global Financial Services Ltd. has epitomized Mahatma Gandhi’s philosophy of putting the customer first. “Customer is God,” he says. From humble beginnings on March 5, 1999 when customers questioned their capacity and presence a year from then, to being the market leaders and providing over NZD 2 billion worth of loans to clients, Ajay Kumar and GFS has come a long way, he is now one of the top insurance advisors in the country. A very serious man, and laborious like the bees Ajay Kumar, has seen time tick along slowly. His memory and recall ability, remembering incidences and customers at will, is almost on par with his in-house developed CRM software that has given him the edge over the market.

He remembers how people questioned their stability and poked whether they will be behind their tall promises in the years to come, what if they desert them and go. Over the years he has most certainly quashed those apprehensions and doubts about their presence and ability to deliver what they promise. In the 15 years that they have been in establishment, no one has come near the kind of business they have been able to provide, especially to the Indian community. Businessman, doctors, restaurant operators, lawyers, professionals from all walks of life have benefitted from GFS work in the mortgage and insurance sector, with most banks, and thousands of clients Ajay Kumar and GFS enjoys a numero uno position in terms of customer satisfaction. “When a bank sees papers forwarded from GFS they are happy to take the case, as they are assured it is a good clear case,” he adds, “a case of high quality.”

“I was there when Mr Kumar made his presentation to Prime Minister John Key at a dinner in Auckland in which he had laid out some practical, if politically unpalatable, suggestions to rein in New Zealand’s then worrisome debt. These suggestions centered mainly around KiwiSaver. I dined at the same table as Mr Key and he told me the suggestions indeed seemed practical but needed some thought. Some time later, I was surprised that quite a few of those suggestions were taken on board – though not to the full extent Mr Kumar had suggested – when Finance Minister Bill English announced
some measures around KiwiSaver in his Budget speech which I was covering for the National Business Review (NBR) in the Beehive. That speaks a lot for Mr Kumar’s innovative thinking.”

Dev Nadkarni, Founding Editor-in-chief, Indian Weekender

The journey has certainly not been easy and like bouquets brickbats have followed too, recounting an incident from 2008, when a competitor filed a complaint with the highest Advertising Standards Authority challenging
their promise to the customers to reduce the term of the mortgage and saving them interest. “The journey has not been an easy one, but my philosophy of keeping the customer informed and being honest with them has
pulled me through,” says Mr. Ajay Kumar. The courts upheld GFS’s position on the case and adjudged that,” the information could not be imparted any more simplistically while still remaining accurate” and further, was
truthful and accurate observing high standards of social responsibility.

To read full story on the following sites, click on their names:

Indian Weekender
Indian Newslink

Special Formula for early Mortgage loan liquidation

When Ajay Kumar helped a customer save up to $450,000 and helped him liquidate the mortgage loan in just 5 years instead of 25.

When Global Financial Services Limited (GFSL) Managing Director Ajay Kumar told a medical practitioner that he can liquidate his mortgage loan in five years instead of the normal period of 25 years, the latter stared at him in disbelief.

And when Mr Kumar told Dr Mohammed (not his real name) that he would also save up to $450,000, the potential client thought that he was meeting a non-professional, who was new to the business. Mr Kumar was indeed new to the business, but he was not a non-professional. At that time, he had 21 years of experience as a banker, with a postgraduate degree in Science and CAIIB from the Indian Institute of Banking & Finance. He revealed his special formula to an apprehensive Dr Mohammed and assured him that it was not unrealistic.

“You do not know me, my lifestyle, the constant travel and other expenses that I incur and yet how can you be so positive,” Dr Mohammed asked.

Click here to read the entire story on Indian Newslink website. 

Ajay Kumar speaks on housing bubble in Auckland

Thursday, January 31, 2013

Though real estate is expensive, you can still find a way to home ownership. Auckland has finished ahead of New York, London and LA to remain one of the most unaffordable cities in the world if you want to own your own home according to the recent Annual Demographia International Housing Affordability Survey. For those looking to buy step onto the property latter, it spells more leg work, thorough research and adopting a flexible approach. While buying and selling property remains a simple profit making venture for investors, financing a
home remains a number one concern for buyers. Rents are high, houses are overvalued and saving for the down payment can take its toll.

Financial analysts advise buyers to research banks, loan options and make smart choices. “Each individual case is different and we advise clients to work out the number of years they think they will need to repay loans. This is the most important aspect of financing a home ownership project,” says Ajay Kumar of Global Financial Service, an Auckland based financial consulting firm.

Click here to read the full story on Indian Weekender website. 


Ajay Kumar talks about the impressive growth of GFS on its 14th anniversary

While the goal of every individual is to repay his or her mortgage loan as soon as possible, the means to achieve that objective would depend on the ability and quality of the financial advisor or mortgage broker.

Some commercial banks also advise their clients on judicious management of their mortgage loans for early liquidation, but it is largely the advisors who cater to the interests of their clients better.

Global Financial Solutions Limited (GFSL) is arguably among the largest mortgage brokers in the country. The Company accounts for a total of $2 billion arranged as mortgage, commercial and business loans arranged since its establishment in 1999.

The company’s insurance portfolio (including home, life and health policies) has also witnessed impressive growth in the past 14 years, with the total premium written going beyond $2 billion.

GFSL has been a winner of the Indian Newslink Indian Business Awards in many categories in 2009, 2010 and 2012 and won the ‘Supreme Business of the Year Award’ in 2010. The Company was also a finalist in many categories.

Click here to read the entire story on Indian Newslink website. 


GFS wins IBA Awards for Best Small Business and Business Excellence in Marketing

November 30, 2012

The judges noted that GFS has a very clear and focused business plan and expansion plans are both demographically and geographically based. This well-run business is very focused on the customer, and on the core competency of the business.

Click on the links below to read the full stories. 

Indian Newslink - Best Small Business
Indian Newslink - Business Excellence in Marketing

Ajay Kumar helps poor and needy in Fiji

March 30, 2011

A charitable organisation devoted to providing health care to the poor and the needy in Fiji is in need of funds to undertake another mission to the South Pacific Nation by the middle of the year.Auckland based Friends of Fiji Health Foundation needs at least $150,000 to finance the costs involved in sending a team of medical specialists, practitioners and volunteers to Fiji on its second mission in June or July 2011.Although the Foundation has been conducting charity events to mobilise financial resources, it has a long way to go to achieve its target.All members of the team work on voluntary basis, investing their time and expertise to serve the cause of the Foundation, which is to lift the standard of health among the poor in Fiji, conduct lifesaving
surgery and provide treatment to those diagnosed with ailments.Diabetes and Cardiovascular diseases are just among the two areas that need attention.

Click here to read the entire story. 


GFS bags Supreme Business of the Year award at the recent Indian Business Awards

November 29, 2010

Global Financial Services business was truly very impressive, and the financial results showed that the Company registered an outstanding performance in terms of overhead costs and profit per employee compared to the industry average. Managing Director Ajay Kumar provided sound leadership and governance, while Aseem Agarwal delivered key initiatives, evidenced by formal business planning processes.

Global Financial Services has adapted a range of products suitable for its chosen target market, achieved clever market positioning and a deep understanding of customers’ needs. The Company’s recruitment policies, staff development and participation were recognised as key drivers for business success, and technology has been employed strategically to develop excellent systems. Independent feedback rates Global Financial Services as one of the best financial service providers in the Auckland Region.

Click here to read the full story.


The billion dollar man

24th July 2009, Auckland - Indian Weekender

A 2009 article by Indian Weekender newspaper (New Zealand) when GFS achieved $1 billion in mortgages arranged.

Ajay Kumar - Billion dollar manA billion dollars is a significant landmark by any reckoning. Even more so in a small country at the bottom of the world whose entire population wouldn’t even fill a suburb of many an Indian metropolis.

But achieving this magical figure right here in Auckland is Ajay Kumar. Since starting his financial advisory and services business – Global Financial Services – in the city not so long ago, he has successfully exceeded the coveted one billion dollar figure in the total amount of mortgages he has helped banks deploy to his ever growing list of clients.
It is the first time that an Indian mortgage broking house or an Indian individual has achieved such a distinction in New Zealand.

The self-effacing Mr Kumar, however, would rather underplay this achievement. “My philosophy has always been to deliver better value and services to my customers, by empowering them with all the vital information and working with them to make intelligent and practical financial decisions,” he says.

“I am not sure if this billion dollar milestone adds more value to my customers in any substantial way. I’d therefore rather not talk about it and instead see how the goodwill that it has created can be harnessed to deliver even better service,” he adds.
In his characteristically modest style, Mr Kumar attributes his company’s success to the support and faith that his customers have reposed in it. “Every success is attributable to customers and customers alone,” he says.

“In any business where there is competition, the quality of service becomes the differentiator and that is what makes a customer most happy.”

Mr Kumar began his career in banking in India way back in the 1970s and recalled what a banking trainer had told him in his early days when he asked the trainer what is it that made customers choose a bank when the same kind of banking products were doled out by every bank because of the then strict banking regulations in India.

The trainer replied that no matter how many things are regulated by any authority, there is one thing that can never be regulated – and that is personalised service. “I have followed that advice from that day on,” he says.  

To ensure high service levels, Global Financial Services, or GFS, has invested in its own proprietary software system to manage the accounts of its 1800 mortgage and insurance customers. “It is so comprehensive that my office can be on top of every single client development at all times. Besides, I can access the information on our system from anywhere in the world,” Mr Kumar says.

GFS not only helps customers obtain mortgages for homes and looking after their insurance needs, but also goes the extra mile in advising them about the best and most cost effective ways of managing both their mortgages and insurance packages.

“We make it a point to see situations through the eyes of the customer – the present need, the likely future situation, the overall economic situation and such other factors – and give our advice after careful consideration of how these various factors could affect the customer now and in the future,” Mr Kumar says.

“Many a times, customers are in a far better financial situation than they think they are in, which can help them shorten their mortgage terms. All they need is expert financial advice on how to do it. That’s where we come in with the solution most suited for each customer – because each one’s needs are different. There even has been an instance when a customer was able to clear of a 30-year mortgage in just three months with only a bit of financial planning.”

Such a case is indeed rare he admits but it is not hard to shorten mortgage terms with a little bit of planning and some expert advice, he adds.

Mr Kumar says that the present financial downturn is the worst he has seen in his years in New Zealand but admits that nearly none of his clients have been affected severely by it to the point of being driven to worry about being able to pay their mortgages and other financial obligations.

“Our advice has always been to save for a rainy day and it just so happens that most of our clients have taken our advice seriously and been financially prudent,” he says. Mr Kumar is a firm believer in financial discipline and does not agree with the lax practice of financial institutions in the past few years when caution was thrown to the winds and funds were lent with little care.

“It is important to have a stake in the property – a 10 or 15 per cent margin is a must and is good practice,” he says. “We don’t encourage potential clients who come to us with requests of 100 per cent finance.” That is the reason he says why the record of his clients is so good and why the banks prefer dealing with a company like GFS: “Banks definitely look at the quality of clients and their profiles that a mortgage broking firm brings.”

GFS has big plans in the financial services sector in coming years but it has had to reschedule its strategic path of growth and diversification because of the present economic climate, Mr Kumar says. He expects the downturn’s effects to last until at least the latter half of 2010 when he reckons things will begin to look up again and there will be a steadier upswing in real estate investment than the present one which he believes is temporary and is driven by the fall in interest rates after so many years.

“We are well prepared with our future plans and will take them forward as we see the economic climate get better,” he says.   

Click here to read the article on the Indian Weekender website.




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