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New Zealand; a land of opportunity but not without risk.

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No matter what background we have or what country we or our forebears come from, there is no doubt New Zealand offers opportunities to those prepared to work for them. This pioneering spirit in a modern world has become more often referred to as our entrepreneurial spirit…where grit and determination meets execution! We can spend time working for ‘the man', building our know-how and experience or we are already experienced business people from other places, and one day we think, ‘I could do this myself. Take my dream, start a business, (or start again), employ some help. I don't want an empire, I just want to work for myself and get a lifestyle out of it for me and my family.'

This attitude is so common that small to medium sized enterprises (SMEs) in New Zealand employing five or fewer people now number over 430,000, employing more than 560,000 people representing immeasurable worth to the national economy (GDP). But there's a threat lurking beneath these impressive statistics: research tells us that New Zealanders are underinsured compared with other countries, with only about a third of the investment other OECD nations put into protecting the livelihoods of the people producing this GDP. At GFS there is too often evidence that business owners, many of whom are the key person in the business, frequently lack some or all of the cover they need.

This is in part because many see insurance as expenditure rather than protecting their dream. One role of GFS is to show people than insurance is not a cost, but on the contrary a vital element of financial wellbeing. A second role is to provide products and services that facilitate that wellbeing.


The diagram shows all the parties at risk in ‘The Circle of Life'. The business is underpinned by its key people, who are subject to general life risks - accident or illness that could leave them temporarily or permanently unable to contribute to the business.

That financial impact flows on to the owner/s of the business (often also a key person), who is responsible for the debt, both visible and invisible. Some owners think they don't need business or key person cover because they don't see any outstanding debt - they wholly own the business and the business assets such as vehicles and so on.

However, that's just the visible debt. The cost of exiting is invisible - if you suddenly had to close the business, what would it cost you to pay all current utility bills, rates, holiday pay and other entitlements? What about your lease commitments too? Too often these issues can be overlooked.

Then there are the families; the people supported by the business. What does the owner's lifestyle cost? What about their staff's lifestyles? Who and what is dependent on the business, and what happens if that revenue stream drops or stops? But of course, ‘the circle of life' only completes because the business also is dependent on the very people needed to drive revenue.


The advice GFS offer their clients looks to deal with this value chain. Certainly, it is the responsibility of business owners and key people to seek advice to get the cover they need. But GFS bear equal responsibility, in that they must help to simplify this process and support their clients transfer of any financial liability they are uncomfortable with should a life risk event strike. Getting the insurance you need should not be complicated or expensive relative to the risks you face – Talk to GFS today about how they can help you.

Call 09 2555500 email insurance@globalfinance.co.nz

 

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Are property investors buying in the Regions?

Written by Saurabh Gupta on February 26th, 2016.      0 comments

Auckland Mortgage Broker Global Finance on buying investment propertyThe Regions are seeing higher growth in residential property sales and median prices compared Auckland as per the latest data from REINZ and news reports.

House sales volumes in Auckland dipped 13.5% in Jan 2016 compared to last year, according to REINZ data. In contrast, other cities in North Island saw a rise in sales volumes. Rotorua grew the most with a 113.7% rise in sales.

Similarly, median house price in Waikato / Bay of Plenty region was up by 12.9% in Jan 2016 - higher than the 9.1% increase in Auckland.

Since LVR changes in October 2015, we have also seen increasing number of queries from our existing and new customers looking to purchase property outside Auckland.
 

Buying a first home in Auckland!

Written by Saurabh Gupta on January 29th, 2016.      0 comments

Mortgage for buying a first home in Auckland-461With house prices on fire, the deposit is getting increasingly out of reach for first home buyers, especially in Auckland.

The good news is that the housing supply is increasing and so are new building consents. In Auckland, building consents for new apartments grew by 68% and for townhouses (incl. flats, units, etc.) grew by 43% for year ended December 2015 compared to 2014.

There may be a number of questions on your mind related to how much deposit you need and how much mortgage you can get.

You may want to contact us to know your options rather than doing all the math yourself. Get your free consultation today!

Read on to know more.
 

Reserve Bank OCR update - Is it time to break my fixed rate mortgage?

Written by Saurabh Gupta on January 28th, 2016.      1 comments

Is it time to break my fixed rate mortgage-877-74628th January 2016: Today, Reserve Bank of New Zealand RBNZ) announced that Official Cash Rate (OCR) will remain the same at 2.5%. 

He added that House price inflation in Auckland remains a financial stability risk. There are signs that the rate of increase may be moderating, but it is too early to tell. House price pressures have been building in some other regions.

Read further about how you can save interest on your home loan as interest rates fall?

 

How can you save on your home loan after a fall in OCR?

Written by Saurabh Gupta on December 10th, 2015.      0 comments

Today, Reserve Bank of New Zealand reduced the Official Cash Rate (OCR) by 25 basis points to 2.5% Reasons cited include boosting economic growth and employment. This will imply a fall in floating interest rates for home loans but not necessarily the fixed interest rates on home loans.
Home owners who want to take advantage of the fall on their fixed home loan interest rates, will have to keep a few things in mind before taking a decision - read more to know more! 
 

GFS receives 2 top mortgage broker awards from ANZ Bank for 2015

Written by Saurabh Gupta on December 9th, 2015.      0 comments

9th December 2015: Ajay Kumar of Global Financial Services Ltd today received 2 top broker awards from ANZ Bank. Mortgage Adviser of the Year award is for the highest business in all of New Zealand and Valued Business Partner of the Year award is for being a top mortgage broker for 3 consecutive years. Ajay Kumar of GFS is the only mortgage adviser in NZ to have been a top mortgage broker for more than 4 consecutive years at ANZ Bank.

 

GFS wins Best Financial Adviser award

Written by Saurabh Gupta on November 24th, 2015.      0 comments

On 23rd November, 2015 at the Sky City Convention Centre, Auckland, Global Financial Services (GFS) won the Best Financial Adviser award for both mortgage and insurance at the Indian Newslink Indian Business Awards 2015. GFS also won the Best Medium Sized Business award.

Eminent personalities graced the presentation ceremony of Indian Newslink Indian Business Awards 2015 including - Steven Joyce (Minister for Economic Development), Todd McClay (Associate Minister for Trade), Craig Foss (Minister for Small Business), Peseta Sam Lotu-Iiga (Minister for Ethnic Communities), Mr. Sandeep Sood (Charge d'Affaires, High Commission of India), Mayor Len Brown, Andrew Little (Leader of the NZ Labour Party), Anthony Healy (CEO and MD of BNZ) and Dr. Jebamalai Vinanchiarachi (Senior Economist and Former Principal Advisor to the Director, United Nations Industrial Development Organisation).

The entries were judged by an independent panel of judges, featuring business leaders such as Nevil Gibson (Editor-in-Chief, The National Business Review), Steve Corbett (Chief Executive, e-Centre Ltd, Massey University) and Mike Skilling (Management Consultant, Director SBS Bank)
 

Auckland Property & Mortgage Market update

Written by Saurabh Gupta on November 20th, 2015.      0 comments

One month of decline in Auckland property market may not indicate a trend for the long run...

Rather than thinking too much about a 0.2% drop in current interest rate, considering options for restructuring your loan may be help you save money...




 

 

GFS is ASB Bank’s top mortgage adviser for 2015

Written by Saurabh Gupta on October 19th, 2015.      0 comments

Ian presenting mortgage broker award to Ajay KumarOctober 19, 2015 – Today at Auckland, 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 Global Financial Services Ltd (GFS) is the largest mortgage adviser for ASB Bank for the year. 

This is the second year in a row that GFS has won the top broker award from ASB Bank. GFS won the top mortgage broker award of ASB Bank for the year 2013-14 as well.

 
 

GFS - First Indian financial adviser to win Westpac Auckland Business Award for Excellence in Customer Service

Written by Saurabh Gupta on October 9th, 2015.      0 comments

GFS has achieved the status of the First Indian Financial Adviser who has won the award for Excellence in Customer Service from Westpac Auckland Business Awards (South) 2015. These awards are presented by Auckland Chambers of Commerce and ATEED and are across industries.

“Excellence in Customer services” is always the core value of GFS. Competition was extremely tough because GFS had to compete with all other South Auckland based business who participated in this category including financial advisers, manufacturers, consumer businesses, hotels, educational institutions, etc. Getting an award in a category that is across all industries highlights the importance of financial advice that GFS has been delivering to customers. Their financial advice process was independently verified by a panel of judges for the purpose of this award. These judges are amongst the most discerning as they have mentored or lead some of the best businesses in New Zealand.
 

Get a pre-approval before you go for an auction!

Written by Saurabh Gupta on September 28th, 2015.      0 comments

Do you often spend your weekends attending auctions for buying residential property in Auckland and nearby areas such as Pukekohe, Huntly or even Hamilton? If yes, you must have been witness to the competition amongst home buyers and how real estate agents are making the best of it. 

Make sure that when you get a pre-approval, it is a thorough one with all the documents already submitted. If you are planning to switch your banks, get it from the bank of your choice - and even more necessary that you submit all docs for it.
 

​OCR set to fall further – do I break my fixed interest rate home loan?

Written by Saurabh Gupta on September 7th, 2015.      0 comments

Interest Rates to fall again 02July15-505In a recent survey by Mortgagerates.co.nz all economists expected a cut in (Official Cash Rate) OCR of 25 basis points.

Ajay Kumar, Director of New Zealand’s leading mortgage broker and adviser, 
Global Financial Services Ltd (GFS), has been advising clients to keep an eye on the falling interest rates.

However, many people who have a mortgage have been worried about the unexpected break cost when they ask banks to reduce their fixed interest rates to the new lower rates. For this Global Financial Services based in Auckland has been working closely with customers as well as bankers across New Zealand to do a cost benefit analysis of how much they gain from the new lower interest rate on their fixed home loan versus how much they loose on break costs. GFS has also negotiated good cash backs with the banks for covering a significant part of the break cost – where it makes sense to do so.

 

When suffering a “Trauma” doesn’t feel like it

Written by Darrin Franks on September 4th, 2015.      2 comments

Darrin on Holiday Oct 2013 200pxA personal account by Darrin Franks on how we never appreciated the full importance of life and trauma insurance covers until he was himself diagnosed with skin cancer.

Darrin Franks works as a Management & Strategy Consultant with  Global Financial Services Ltd and is an independent Board Member of the Professional Advisers Association.

Until 2013, Darrin was heading distribution and marketing at AIA Insurance – the life insurance market leaders in Asia Pacific region. Darrin has been working as a management consultant at his company Conetworkz Management Solutions. He is a well known leader of the NZ insurance industry with more than 20 years of experience including with companies such as Asteron and Sovereign. 

"Insurance was something I knew and had bought most of my adult life. But insurance is now something I understand. Not in a dollars and cents way like before but in the freedom and space it created to make different decisions for myself and my family. You don’t get many second chances so to be able to run with the second chance I got because of the insurance I had is something I will never underestimate the value of. 
 
If Insurance is something you think you know like I did, don’t miss the opportunity re-evaluate the choices it can provide you and your family. Then, like me, you will begin to understand its true value." - Darrin
 

GFS team member Darrin Franks appointed to Board of PAA

Written by Saurabh Gupta on September 1st, 2015.      0 comments

Global Financial Services Ltd (GFS) is pleased to acknowledge last week’s appointment of our Management and Strategy Consultant, Darrin Franks, to the position of Independent Board Member for the Professional Advisers Association (PAA).
 
This further underlines Darrin’s reputation and valued acumen in the financial services industry in New Zealand. GFS is sure he will be a welcome contributor to the positive future of third party financial advice.
 
We are very pleased that the PAA has worked hard to ensure the value of and access to advice in New Zealand.

Our customers can be assured that GFS will deliver the best quality and trustworthy advice regarding home, business and commercial loans as well as life and personal risk insurance.


Darrin Mug Shot 01Sep15-953
“Access to professional financial services advice is incredibly important in New Zealand; just ask anyone who relies on it. There is work to do to continue to educate and demonstrate this value – something that the team at GFS work tirelessly at”

– Darrin Franks

Management & Strategy Consultant, Global Financial Services Ltd

 
 

GFS recognised for Customer Service by Auckland Chambers of Commerce and ATEED

Written by Saurabh Gupta on August 21st, 2015.      0 comments

GFS has been selected as a finalist for Excellence in Customer Service at Westpac Auckland Business Awards. They are one of the most prestigious business excellence awards in Auckland and are delivered by the Auckland Chamber of Commerce in partnership with Auckland Tourism, Events and Economic Development (ATEED).
 

Auckland Property market – is this the end of the bubble?

Written by Saurabh Gupta on August 14th, 2015.      0 comments

 
Housing Bubble 29408544 s-160Some media articles are saying that it might be the end of the Auckland property market bubble, while others are saying that it’s not. So where does the truth lie?
 
For your benefit, I am quoting some facts from the REINZ Auckland Region Analysis for July 2015.
 

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