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

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


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Ajay Kumar wins Mortgage Adviser of the Year 2016 award from PAA

Written by Saurabh Gupta on August 2nd, 2016.      0 comments

Ajay Kumar, Founder and Managing Director of Global Financial Services ltd, won the prestigious Mortgage Adviser of the Year 2016 award from Professional Advisers Association at their annual National Advisers Conference in Auckland on 28th July 2016.

It is one of the most prestigious industry awards by the leading industry association of NZ’s mortgage and insurance advisers.

Ajay wins Top Mortgage Adviser Award from PAA

The PAA Excellence awards are designed to recognise PAA members who demonstrate the founding values of the Association:  client advocacy, diligence in their work, compliance with relevant regulations and professional development.
Nominated by industry partners, nominees were scored across a range of criteria by an independent panel of judges. 

Judges’ comments: “Ajay realised many years ago that the value he could add over and above getting a client a mortgage was helping them pay it off faster.  He designed his own Interest Saver Plan (17) years ago and started using it with great success. Since then he has built his own IT platform to run it and all his processes and still today is using it himself to help clients achieve their dreams.

Rod Severn, CEO of the PAA said, “The PAA Excellence Award winners exemplify quality advice and high quality client care. Hotly contested across the industry, our winners thoroughly deserve the acknowledgment and we congratulate them on their achievement.” 

Ajay Kumar thanked the PAA for their support and guidance to the industry.

Ajay could possibly be the only mortgage adviser in NZ to have won the top mortgage adviser awards based on multiple criteria in a single year (or, awards season) –
1. based on business volume – NZ’s No. 1 mortgage adviser awards from ANZ Bank, ASB Bank and ranked Band 1 overall by TMM magazine
2. based on quality of advice – Mortgage Adviser of the Year 2016 by PAA and Best Financial Adviser by BNZ INIBA awards 2015
3. based on customer service – Award for Excellence in Customer Service by Westpac Auckland Business Award 2015 (Auckland South)

The Professional Advisers Association is a leading industry association of NZ’s mortgage and insurance advisers and acts as the representative voice of the industry. The PAA launched in 1953; in 2012, the New Zealand Mortgage Broker Association (NZMBA) came under its fold and now the IFA is proposed to merge with PAA as well.

About Global Financial Services:

Global Financial Services ltd (Global Finance) is New Zealand’s leading mortgage and insurance broker based in Auckland.
It has arranged approximately $4 billion of mortgages and $2.5 billion of insurance cover for 3,500+ families since 1999.
GFS has won 30 prestigious awards & recognition in recognition of its services including:
1. New Zealand’s top adviser awards from ANZ Bank (2012-15), ASB Bank (2014, 15) and AIA Insurance (2008-15) and The New Zealand Mortgage Mag (rankings for 2014, 2015).
2. Best customer service awards from Westpac Auckland Business Awards (Auckland South, 2015) - delivered by Auckland Chambers of Commerce and ATEED and Indian Business Awards 2014
3. Best Financial Adviser Award (Mortgage and Insurance) from BNZ INIBA awards 2015

For more information, contact:
Saurabh Gupta - Marketing Manager, Global Financial Services
Tel: (09) 255 5500 Extn. 717 / Mob: 027 755 5520
Email: / Website:  

Click here for the link to PAA website



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