Business born in a pandemic now transforming lives.
SYDNEY, 9 JULY 2020 – Benevolence Financial Group has been recognised as a finalist in the Social and Community Program category at the Australian Broking Awards.
Despite being in operation for just five months, the startup was recognised for pioneering a revolutionary new way of mortgage broking that prioritises transparency and compassion. Benevolence Financial Group is the first social enterprise finance and mortgage broker in NSW and hopes to challenge businesses to address pressing social and environmental issues.
Rather than focusing solely on profits, Benevolence Financial Group aims to show that the finance industry has enormous capacity to change lives. Up to 50% of commissions the startup receives are invested with impact partners to help those who are worse off.
From just one home loan settlement, the startup invested $3,344.78 with The Hunger Project. This resulted in giving 53 women across Africa and India access to financial literacy training through microfinance loans.
Co-founders Mitchelle and Samuel commented that “Businesses have the opportunity and obligation to leave the world a better place, particularly in this time of crisis. The time for action was yesterday.”
“Saying ‘that’s the way we’ve always done it’ doesn’t cut it for us,” they said.
Now in its 10th year, the Australian Broking Awards, run in partnership with principal partner NAB, is the industry’s most prestigious accolades recognizing excellence across the entire mortgage broking industry.
The awards showcase professional development and innovation, celebrating both the individuals and firms that are leading the way in the industry.
The finalists for 2020, announced over several weeks beginning on 22 June 2020, feature 230 high-achieving mortgage professionals across 28 submission-based categories.
The Adviser editor Annie Kane commented: “Over the past 12 months, Australia has been through a difficult period. The devastation caused by the bushfires was quickly followed by the coronavirus pandemic, placing strain on the economy and the finances of Australians across the nation. More than ever, brokers came out to support their clients during their time of need — finding them much-needed finance and helping them navigate their options for financial assistance, where necessary.
“We are proud to be able to recognise the brokers that have been leading the way and celebrate the individuals and companies that have been going above and beyond for their clients.”
Samuel Philipos, Founder and Principal Mortgage Broker at Benevolence Financial Group, said that he was proud to be named as a finalist in the Australian Broking Awards 2020.
“Benevolence Financial Group’s recognition for our excellent contribution to the mortgage broking industry reinforces the strength of our service and dedication to connecting with the community and engaging with clients,” Samuel added.
The winners of the Australian Broking Awards 2020 will be announced on Thursday evening, 16 July 2020.