She fights for clients when lenders say no
With nearly two decades in finance and a string of major industry awards, Rachana Dave (pictured) has built one of New Zealand’s fastest-growing advisory firms.
Known for her client-first approach and deep lending expertise, Dave has shaped 0800RACHNA into a trusted, one-stop mortgage advisory service supported by a strong professional network.
A 19-year journey into financial advice
Dave’s path into broking spans almost two decades. She worked at ASB from 2006 until late 2013 before transitioning into financial advice in July 2014.
Her long tenure has given her a deep understanding of the local lending landscape and the value of strong relationships with clients and lenders alike.
From ‘mortgage broker’ to ‘financial adviser’
One of the biggest positive changes Dave has seen is a shift in how the profession understands itself.
“In my personal opinion the biggest positive change has been the change of job title from being called as a 'mortgage broker' to now being called as 'financial adviser,'” she says.
Dave says increasing qualification requirements, rising adviser numbers and greater community awareness have lifted the standard of the profession. When she entered advice, around 30–35% of loans were written by third-party advisers; in 2025, it is closer to 60%.
“People have started understanding the value that financial adviser can add in their home journey compared to walking in to a bank to get the approved," Dave says. "It is more of a journey of advice than just a transaction.”
Her firm’s success reflects this shift. Over her 18 years in finance, Dave has won multiple industry awards – including Best Mortgage Adviser, Excellence in Customer Service, and Best Business Woman of the Year – underscoring 0800RACHNA’s growing profile and client trust.
Industry challenges: Managing channel conflict
Despite the profession’s growth, Dave notes challenges remain.
“I can see and have experienced conflict of channels. This can only be controlled to some extent,” she says.
While not easily solved, Dave believes strong communication, clarity and professionalism help advisers navigate such conflicts more effectively.
A standout win: Helping a self-employed FHB secure approval
With more than 11 years as an adviser, Dave has handled countless complex scenarios. One recent case stands out: a self-employed first-home buyer with just a 10% deposit, two businesses, and big aspirations.
“Couple of times the credit manager from the bank refused lending at 90% and was happy to support only at 80%,” she says.
Leveraging her understanding of lender policy, financial forecasts and the client’s business performance, Dave secured an approval the bank had twice declined.
The client is now settling into their first home before Christmas. For Dave, the lesson is clear.
“Understanding the client and their requirements is utmost important,” she says. “You as an adviser should know all the products and lending policies of the banks that you deal with.
“If you know that there is a gap in understanding from the lender's side, you as an adviser need to be calm and explain properly to the lender where you think the gap in understanding is.
“Even lenders will help and support the loan if the exit plan of the loan is very strong.”
Advice for new advisers: Purpose before commission
Dave offers straightforward, practical advice for those entering the industry: “Have your vision board and purpose very clear why you want to become an adviser.”
She stresses that success comes from client care, not chasing numbers.
“If you focus on client relationship and focus on timely customer service with genuine intention to help the clients achieve their financial goal, everything else will fall in place,” Dave says.
Retention, Dave says, is just as important as attracting new clients.
“It is very important to understand that along with the new clients that you bring to the business, how strong is your client retention for existing clients,” she says.
Ultimately, her philosophy remains simple: “This profession is all about clients and their financial goals.”
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