Profile
"West Oak’s success has come from always putting our clients’ best interests first and always finding ways to improve and add more value to them"
Andrew mcquiston,
west oak family office, wellington-altus private wealth
Bloom Capital is in a growth phase and managing director Rachel Farrell is ready for whatever comes her way.
“I feel like it’s just getting better and better… Bloom Capital progresses each year,” she says.
She adds that the more business she writes, the stronger relationships with her clients become. That loyalty will be an important asset as the economy moves into a testing period.
Having entered broking in 2016, Rachel admits she has no direct experience with a rising interest rate environment, but still has a solid grip on the dynamics at play.
She says a lot of people were quite enthusiastic about borrowing while rates were at historic lows, but this would soon change.
“As interest rates continue to rise, I think it will become more conservative and borrowers will really check their lending,” she says.
“I think what everyone has to remember is that interest rates being at 2% [forever] was never sustainable."
For her clients, Rachel is determined to help them manage the change in a sustainable way. If they look unlikely to be able to pay off a loan at higher rates, then she won’t put them in an untenable position.
“I’m not prepared to be putting people in loans that they can’t afford.”
Rachel recently won the AFG Winning Women Award and Scholarship to Harvard Business School and has already taken part in the first yearly instalment of four modules, the final one held at Harvard University itself.
The insight she gains from this experience will undoubtedly help her keep a level-headed approach as the economy evolves, but she also cites being a woman as a key advantage in broking.
“I think we’re more empathetic, I think that we build deeper relationships with our clients.”
Rachel is happy to spend time talking through the issues that often serve as background for major financial decisions in people’s lives. Such events can be deeply personal, such as divorce, the loss of a loved one, or an injury.
She feels a transactional approach can never be optimal and it is disappointing for her that the number of women brokers appears to have declined over the pandemic years.
An empathetic approach is one that speaks to the wider social role that brokers play in helping people become financially secure. Rachel also runs educational sessions at Melbourne schools to help children become familiar with good financial decision-making.
“I’m very passionate about women in finance, but I’m also passionate about people being financially intelligent.”
While her business is mainly focused on residential loans at the moment, she expects her line-up may evolve. More brokers will likely move into commercial loans and other areas to shore up their business as the economy changes, she says.
While she hopes to be able to offer some of her loyal clients more services along these lines in time, over the shorter-term Rachel will be spending resources organising the back end of the business with the help of a new office assistant.
“It will be a goal for the year to work on finding some days to work on the business rather than in the business,” she says.
In addition, she plans to write an educational book on managing finances to expand her reach even further.
Level 1, 110 Church Street, Hawthorn, VIC 3122
0403 696 789
rachel.farrell@bloomcapital.com.au
linkedin.com/in/bloomcapital
bloomcapital.com.au
Rachel Farrell
Managing Director
Bloom Capital
Read on
Special Report
Home
Bio
Milestones
Profile
Milestones
2020–present
Insurance Business Magazine | Key Media
Deputy Principal at Australian Christian College - Southlands
Doctor of Education
2020–present
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2021
Ted Talk in collaboration with key media
Year 7 Community Leader and Leader for Learning Technologies and Platforms at Northern Beaches Christian School
Master of Business Administration, 2017–2019
2021
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2016
2019
2021
2016–2017
2019–2021
Rachel Farrell
Managing Director
Bloom Capital
Read on
Special Report
Home
Bio
Milestones
Profile
Milestones
Insurance Business Magazine | Key Media
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
Ted Talk in collaboration with key media
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
Ted Talk in collaboration with key media
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
Ted Talk in collaboration with key media
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
Ted Talk in collaboration with key media
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
2016
2019
2021
2016–2017
2019–2021
Rachel Farrell
Managing Director
Bloom Capital
Read on
Special Report
Home
Bio
Milestones
2022
2016–2017
2021
2019
2016
2019–2021
Insurance Business Magazine | Key Media
Winner, Better Business Awards - Best Customer Service Individual, 2019
AMA Winner, Brokerage of the Year Diversification, 2020
Winner, Better Business Awards - Best Customer Service Individual, 2021
Opened second office in regional Victoria in 2021
2019–2021
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2016–2017
Human Resources Magazine | key media
Started TM Finance Group in 2016
AMA Winner, Brokerage of the Year Diversification, 2017
2016–2017
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2021
Human Resources Magazine | key media
Received the AFG Winning Women Award and scholarship to Harvard Business School
Featured as one of the Top 20 Mortgage Brokers to Watch in 2022 by the Australian Business Journal
Featured in the “hot seat” with Australian Broker magazine
2021
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2019
Human Resources Magazine | key media
Started Bloom Capital
2019
2009–2011
2016
human resources | key media
Began her career in broking
2016
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Milestones
2019–2021
Insurance Business Magazine | Key Media
2022
Excellence awardee – Independent Mortgage Adviser of the Year category at the New Zealand Mortgage Awards
2022
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2022
2020–present
Insurance Business Magazine | Key Media
Deputy Principal at Australian Christian College - Southlands
Doctor of Education
2020–present
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
2021
Launched his own business,
Ascend Financial Services
2022
2022
Insurance Business Magazine | Key Media
Lorem ipsum dolor sit amet, consectetur adipiscing elit. A volutpat laoreet suscipit duis. Diam aliquam sed ut massa viverra a, eget libero.
2021
Launched his own business,
Ascend Financial Services
2022