With the current COVID-19 environment we thought it was opportune time to catch up with one of Australia’s leading broking house Director's and CAFBA President David Gandolfo.
Given Morris Finance’s membership and support of the Commercial & Asset Finance Brokers Association of Australia (CAFBA) since inception we thought it would be opportune to catch up with the President and Honorary Life Member of the association, David Gandolfo, to chat about the formation, role and notable highlights of CAFBA’s advocacy, not to mention it’s vision and the changing dynamics of the association.
CAFBA was established in 2008 after David Gandolfo and partners of associated finance broking firms recognised that there was a clear need for the commercial asset finance arena to have their own national voice and champion the cause of specialist commercial finance brokers. David (Quantum Business Finance) and Terry Moodie (Moodie Kidell & Partners) were respectively Presidents of the Victorian and NSW state-based bodies, and co -founded CAFBA with the purpose being the proactive advocacy and collaboration body that liaised with government and regulatory bodies that effected access to business finance. The growth of the association has been considerable and CAFBA is now the dominant advocate for brokers and the interests of their clients in the $100 Billion-plus commercial lending market..
The vision statement of CAFBA succinctly states that “when the work is done business will have access to finance to start, maintain and grow” and their work has resulted in copious notable highlights over the past twelve years.
The overarching highlights centre around members individual and united progress, prominence and standing. Success as measured in a representative and financial sense can be directly attributed to the education, programs and scholarships offered by CAFBA, with increasing female representation in what is seen as a male dominated industry. To date 39 women have received and completed CAFBA scholarships and two female Directors currently serve on the CAFBA Board, thereby representing one of the finest achievements. David also presented CAFBA’s market insights and recommendations at the Royal Commission with the resultant findings and recommendations in 2019 resulting in increased emphasis on governance, compliance, leadership and change management within the finance industry.
Whilst the ever increasing aggregation model and demand for commercial finance broker accreditation presents tremendous opportunities for growth for our sector in 2021 and beyond, the challenge is one of self-regulation, education and qualification of those wishing to practice commercial finance, with recognition that consumer finance is vastly different to the skills and experience required when assessing commercial finance in totality.
Just to demonstrate the pride, passion and persistence required at the top, David spends approximately 45% of his time representing and serving as President of CAFBA and as a Board Member and Deputy Chair of COSBOA (Council of Small Business of Australia), not to mention facilitating substantial commercial finance as a Director of Quantum Business Finance.
In conjunction with increased demand for education, upskilling, qualification and accreditation, the advent of COVID-19 has expedited a rapid uptake in broker-client online technology from go to whoa with countless benefits and efficiencies for both parties, without threatening relationships but merely enhancing them as customer service levels rise.
On a personal note, David enjoys nothing more than spending quality time connecting with his wife of 30 years and three daughters aged 26. 23 and 16, travelling to destinations such as the US and Europe. When his limited time permits David has a real penchant for listening to a wide array of music that spans generations, from The Doors to The Rolling Stones to Tool, just to name a few of his favourites.
On a parting note, it’s obvious that David still leads CAFBA with the relentless drive that our association requires and whilst there is nothing as constant as change in this world its hoped that one constant will remain, that is that David will continue to provide the leadership he’s demonstrated in the past for many years to come.
To stay up to date with the national peak professional body of the commercial and equipment finance industry, head to cafba.com.au.