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ROY Hall is staying ahead of the pack in the fast changing world of finance and insurance.
The 35-year-old diversified his Hall Finance & Insurance (HFI) Group at the end of last year but 2010 has seen the company propel ahead.
It’s now in the process of expanding to provide fully integrated services across all finance, insurance and estate planning sectors.
In its second year of operations, introduced offshoot HFI Insurance Brokers has achieved 50 per cent revenue growth and Hall expects similar results from the soon to be launched accountancy and wills and estates divisions.
“We have 6200 customers at the moment, but many of them are transactional clients where we’ve secured finance or insurance options for them. The strategy is to convert as many of these customers into proper clients where we handle their full portfolios,” says Hall.
“For example, we were getting more and more finance and insurance customers asking us if we knew a good accountant so it made sense to diversify HFI to provide that service.
“If people are just interested in saving $20, then we’ll still advise them on which insurance company to use. But we’re interested in providing a multi-product value service. It doesn’t take long to rack up three or four insurance policies for your home and contents, car, life insurance and work accident cover. I hate using the cliché ‘one-stop-shop’ but that’s essentially what we are.”
HFI Group has consolidated its move into new premises at Labrador and while Hall says the office is ‘a location for life’, the company has already signed another lease on the office next door to cater for fast expansion.
Along with wife and co-director Nadine, Hall has grown the business where he now takes a ‘helicopter view’ of macro-management and allows specialist staff to handle daily operations.
As the Queensland chair of the Million Dollar Round Table, he is also bringing a unique HR initiative by the life insurance industry body to his company’s team.
“The concept is about looking at improving people as individual people, rather than business executives or employees,” says Hall.
“Generation Y has brought about this shift in the work/life paradigm where they are questioning ‘why should I work hard for one company all my life then retire and die three years later’, what kind of life is that?
“We’re encouraging a balance in the work/life spaces and pushing people to be the best person they can be in every facet.
“At a staff meeting not long ago, I took $200 out of my own pocket and gave it to two employees to leave and do an act of kindness. They went down to Spotlight and bought a bunch of balloons, streamers and toys to take up the GC Hospital’s children’s ward.”
Hall says this personal development initiative coupled with empowering team members and giving them ‘ownership’ in the company’s direction will see HFI retain the best people during its ‘exciting’ growth phase.