Tag Archive | "David Robertson"

AFIP’s Robertson Joins PALS Roster


LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that David Robertson, longtime executive director of the Association of Finance & Insurance Professionals (AFIP), will serve as a featured speaker at the event, which is scheduled for Aug. 30–31 at Paris Las Vegas.

“In his training, Dave’s primary focus is on personal integrity and accountability, but the value of the products AFIP-certified F&I professionals sell is not far behind,” said David Gesualdo, show chair and publisher of P&A magazine. “His message is an important one, and we are honored to bring him to the PALS stage.”

Robertson’s address, “Carrying the Torch to Light the Flame,” will begin at 10:00 a.m. on Wednesday, Aug. 31. He is expected to discuss the role of F&I product providers and agents in delivering and maintaining a positive message about the many benefits products such as vehicle service contracts, GAP coverage and appearance protection, among others, bring to car buyers.

“My presentation is a call to action that identifies grassroots initiatives and collective public awareness campaigns to ensure that car buyers continue to look first to the selling dealer for these time-tested services,” Robertson said.

To register for the 2016 P&A Leadership Summit, click here. Attendees who register by midnight tonight, Aug. 5, will enjoy a $100 discount.

To inquire about sponsorship and exhibition opportunities, contact David Gesualdo via email hidden; JavaScript is requiredor at 727-947-4027.

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Robertson to Offer Glimpse Into Future at Dealer Summit


TAMPA, Fla. — Organizers of Dealer Summit announced that David Robertson, longtime executive director of the Association of Finance & Insurance Professionals (AFIP), will present a session dedicated to regulatory compliance at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.

“Dave Robertson brings both wit and wisdom to the Dealer Summit stage,” said David Gesualdo, show chair and publisher of Auto Dealer Today and F&I and Showroom. “We are counting on him to shed some light on the current and future state of the F&I office and set the stage for the compliance sessions that will follow.”

Robertson is a 45-year automotive industry veteran and, in 1989, was among the founders of AFIP. He will present the F&I Keynote Address, “A Look to the Foreseeable Horizon,” at 9:10 a.m. on Wednesday, May 4. He is expected to comment on the wave of recent developments in the F&I segment and how dealers, agents, finance companies and OEMs have responded.

“While there are exceptions, the impetus for F&I-related innovation typically germinates from the bottom up,” Robertson said. “Unfulfilled consumer needs are first recognized at the dealership level, with the general agent corps and aftermarket product providers acting as first responders. Once the viability of a new product or service is established, the captive and institutional lenders and manufacturers follow suit.”

Registration for Dealer Summit is now open at the event’s website. Dealers who register by April 1 will enjoy a $100 early-bird discount.

For information about exhibition and sponsorship opportunities, contact David Gesualdo via email hidden; JavaScript is required or at 727-947-4027.

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AFIP’s Robertson Heads to Austin


AUSTIN — Organizers of the upcoming Texas Compliance Summit have announced that David Robertson, executive director of the Association of Finance & Insurance Professionals (AFIP), will serve as a featured speaker at the event, which will be held Nov. 16–17, 2015, at the Hilton Austin Airport.

“David Robertson’s professionalism and strict code of ethics is a perfect fit for Compliance Summit,” said David Gesualdo, show chair and publisher of Auto Dealer Today and F&I and Showroom. “His appearance is a credit to our event.”

Robertson will serve as the featured speaker for the “Easy-to-Implement Processes and Controls” portion of the agenda, which begins at 3:40 p.m. on Tuesday, Nov. 16. In his address, “Knowledge of the Law Keeps You Out of Trouble and Closes Deals,” he is expected to explain how a compliant sales and finance process generates profits by ensuring customers are treated fairly and equally, introduced to every available protection product and compelled to return.

More information about Texas Compliance Summit, including the full agenda, will be available soon. Registration is open at the event’s website. Attendees who register on or before Oct. 26 will enjoy a $100 discount. For sponsorship and exhibition opportunities, contact Eric Gesualdo via email or at 727-612-8826.

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AFIP’s Robertson Joins Midwest Compliance Summit


CHICAGO — Organizers of Compliance Summit have announced that David Robertson, executive director of the Association of Finance & Insurance Professionals, will speak at the Midwest event, which is scheduled for April 20–21, 2015, at the DoubleTree Chicago O’Hare in Rosemont, Ill.

“Dave brings the experience of training and certifying countless F&I professionals to our stage,” said David Gesualdo, publisher of Auto Dealer Monthly and F&I and Showroom magazines. “He sets high standards for front-end compliance as well as personal accountability for AFIP-certified finance managers and directors.”

On Tuesday, April 21, Robertson will present “Knowledge of the Law Keeps You Out of Trouble and Closes Deals,” which will kick off the Easy-to-Implement Processes and Controls portion of the agenda. Compliance Summit will also include sessions dedicated to Rules and Regulations and Your Responsibilities as well as an open-forum discussion titled “Is it Compliant?”

“When it comes to regulatory compliance, dealers are looking for help,” Robertson said. “I’ll make certain you don’t leave empty handed.”

More information about Compliance Summit, including registration and travel information, is available at ComplianceSummit.com. For sponsorship and exhibition opportunities, contact Eric Gesualdo via email hidden; JavaScript is required or call 727-612-8826.

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​F&Idol Winner Justin Gasman Earns Master AFIP Certification


COLLEYVILLE, Texas – Justin B. Gasman, finance director for McCaddon Cadillac Buick GMC in Boulder, Colorado, passed the Association of Finance & Insurance Professionals (AFIP) Master Certification Exam with high marks, topping off a year of achievement. His dealership was nominated for F&I and Showroom’s “​2014 ​F&I Pacesetter Dealer of the Year,” and he was named the magazine’s “2014 F&Idol” winner.

Gasman has 11 years of experience in the automotive industry. He began apprenticing in F&I during his first job as a salesman with Fisher Chevrolet Honda Pontiac in Boulder. After a year, he was promoted to F&I manager and later moved up to the finance director position. When the dealership transitioned in 2009 to Fisher Honda Kia, he served the organization as both finance director and Kia sales manager.

Gasman joined the McCaddon organization in January 2014. The family-owned dealership, in operation since 1958, sells and services all makes and models of Cadillac, Buick and GMC vehicles.

The dealership’s president, Mark McCaddon, said, “In today’s extreme regulatory and consumer-protective environment, the training and competency of F&I professionals is important to the entire operation. We are proud and delighted that Justin has reached the very highest level of proficiency in this position, and congratulate him for achieving master level status with the Association of Finance & Insurance Professionals. His willingness to train and test to this level is a benefit to our customers, the entire dealership organization – and to the industry as a whole.”

Gasman studied psychology and business at the University of Colorado at Boulder and is an F&I University graduate. He was AFIP certified in 2006 and earned senior certification in 2008. “AFIP certification reflects my commitment to my craft – and shows customers that we are doing business legally, ethically and professionally,” said Gasman.

According to AFIP executive director David Robertson, “Justin’s commitment to his profession and high level of execution truly embody the spirit of what it means to be a Master Certified Professional in Financial Services.”

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Sneak Preview: Safe-Harbor Privacy Notice & Risk-Based Pricing Rule


The Safe-Harbor Privacy Notice and Risk-Based Pricing Rule will go into effect in only a few short months. Since NADA has not issued its official guides, any speculation on my part about what their stance might be would be counterproductive. However, you can still learn a lot today.

Safe-Harbor Privacy Notice – What We Know Now

In an effort to ensure uniformity in the privacy notices being issued to consumers, the Gramm-Leach-Bliley Act was amended to create an online standardized form builder to generate compliant privacy notices. If the forms are properly constructed and applied, they provide a legal safe harbor. The forms currently utilizing the 2001 model language will only provide safe-harbor treatment through the end of this year. Privacy notices issued after December 31, 2010, must contain the new form text with very limited modifications to qualify for safe-harbor protection.

As of July 2001, dealerships have issued privacy notices at the time of consummation. Thereafter, the lending institution to which the installment sale agreement is assigned must issue annual notices until the vehicle is paid off. This will remain unchanged.

But the content of the privacy notices has changed and there are tighter restrictions on how they’re used to qualify for the safe-harbor protection. Here, a “safe harbor” is a provision in the regulation that reduces a party’s potential liability on the condition that the party accurately generates privacy notices using the online tool and, by doing so, creates a presumption of compliance. In other words, if you do things properly, you may be afforded a measure of protection if your actions are challenged.

It’s up to management to fully assess operational and marketing situations before selecting which privacy notice option best suits the dealership’s needs. Once completed within the established parameters, it can only be used as the form allows to be accorded safe-harbor protection.

As always, nonpublic personal information can be shared with potential lenders or other entities that need to evaluate potential in-store finance and lease customers’ financial worthiness. Under certain circumstances, it is possible to share customer information for marketing purposes between other dealerships under common ownership – as long as the proper notice is used and, if required, the proper opt-out provisions are addressed. Again, for the safe-harbor protection to apply, a hot prospect’s non-public personal information cannot be sent to a buddy at a sister dealership (or the aluminum siding company down the street) unless the notice issued explicitly allows it.

Risk-Based Pricing Rule – What We Know Now

Think about the Risk-Based Pricing Rule as the counterpart of the Adverse Action Notice. Both are the result of the federal government’s belief that consumers will make better credit decisions if they are aware of their personal scores as they compare to those of the general population. The Risk-Based Pricing Rule creates new notice requirements that significantly amend the FCRA. The Risk-Based Pricing Rule is effective January 1, 2011.

Dealers who, while acting in their capacity as creditors at the time of sale, use consumer credit reports to establish cost-of-credit risk-based pricing, must comply with the Risk-Based Pricing Rule. The rule excludes consumer lease transactions and business credit. Also, depending on the situation, customers with good credit may not need to be given the risk-based pricing notice if their credit score is in the upper 40 percent overall.

The notice must be issued to consumers in cases when “material terms (the APR) that are materially less favorable than the most favorable terms available to a substantiated proportion of consumers from or through that person.” Basically, you have to give the notice to consumers whose credit scores are in the bottom 60 percent of all consumers. In this case, a willing lender was found and the deal was consummated, but the buyer had a low enough credit score that the APR they were offered was less than the most favorable rate available.

There are two government-issued methods for identifying customers who should receive RBPNs, the Credit Score Proxy Method and the Tiered Pricing Method. But these determinations can be cumbersome and (because they’re only issued in select situations) difficult to monitor. As negotiated by NADA and explained in detail in their upcoming guide an exception notice can be issued in lieu of the risk-based pricing notice.

The exception notice is modeled after the California Car Buyers Bill of Rights Credit Score Disclosure form. The exception notice must be issued to all installment sale and consumer lease customers who are actively pursuing in-store funding options. Three worthy elements of the exception notice are:

  • The range of possible credit scores must be displayed as a bar graph or fully explained in writing. Given the fluctuations in overall consumer credit score levels, the array should be updated as required.
  • The exception notice must state the customer’s credit score. Dealers who don’t get credit scores in the normal course of business must secure the credit scores if they wish to use the exception notice. (Please note that the exception notice may require that both the buyer and co-buyer be apprised of their credit scores.)
  • The exception notice must state which credit reporting agency provided the information.

The provisions of the exception notice will be addressed in greater detail when made available by NADA.

Three Levels of Responsibility & Accountability

Dealer Management
How both new notices are configured will vary according to the unique needs of each dealership. Dealers are encouraged to consult the NADA guides and retain competent legal counsel to ensure they are issuing the proper documents.

F&I Practitioner
The F&I staff will be responsible for processing the notices, so it’s essential that they understand the spirit and specific provisions of the new notices – when they are to be used, how they are explained to customers, how they are executed and how the process is documented.

F&I Support Provider
The most famous phrase of the Hippocratic Oath certainly applies to integrating the two new notices into the F&I process. “First, do no harm.” Don’t become the purveyor of bad information. Misinformation about the two notices abounds, so seek guidance from competent counsel and reliable sources.

In the course of conducting onsite training, don’t merely ask the F&I practitioner if he or she understands the provisions of the new notices. Look to the FTC at www.ftc.gov, Hudson Cook, AFIP, and NADA for more detailed information on both notices. Go the extra step by asking specific questions about various aspects of the notices. Be vigilant in future calls to ensure that the notices are being used consistently and properly.

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