Tag Archive | "EFG Companies"

Entire EFG Companies Field Services Team Now AFIP Certified

Dallas — EFG Companies is the first F&I product provider of its size to certify its entire field services team with the Association of Finance and Insurance Professionals (AFIP). By certifying its entire team at once, EFG makes it possible for its client base to receive the immediate benefits of the company’s certification, whether through mentoring the dealer’s staff through AFIP certification, one-on-one coaching or completing dealer compliance audits.

“Our clients look to us to ensure that their teams have appropriate processes and controls in place to navigate more than a dozen federal laws and find their way through the many state and local laws that impact their operations,” said John Pappanastos, president and CEO, EFG Companies. “With that in mind, we took the initiative to get our entire field services team certified by the only regulatory compliance program that requires proctored exams under controlled testing conditions. Achieving AFIP certification across the entire team demonstrates our commitment to our clients.”

With its field team 100% AFIP certified, EFG’s client representatives, trainers and recruiters can more effectively train, audit and support their clients, who will continue to see compliance with state and federal regulatory requirements as a critical priority in their business moving forward, officials said. AFIP certification curriculum focuses solely on the federal and state laws that govern in-dealership financial services.

“AFIP’s primary objective is to protect dealers by ensuring that in-dealership F&I practitioners and sales executives are fully aware of the applicable state and federal regulations – and take responsibility for their actions,” said David Robertson, executive director, AFIP. “Regulatory knowledge, coupled with personal accountability, keeps thousands of dealers out of harm’s way.”

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EFG Companies Launches Professional Services Segment

DALLAS – EFG Companies, a financial service products administrator, announced the establishment of a professional services division that will provide dealers with training, recruiting and marketing services. The division will be led by Chuck McGraw, senior vice president.

“Our expansion is a direct result of the significant resources we invest in equipping our client engagement team to bring both strategic and business perspectives to our clients,” said John Pappanastos, CEO of EFG Companies. “As we have striven to provide the best administration in consumer protection, our training, recruiting and marketing services grew in strength from support functions to primary lines of business that will improve sales cultures for all our clients.”

EFG developed its recruitment and workforce solutions to answer the persistent and growing need for sourcing and development of staff. The company utilizes a proprietary process that combines its top performer behavioral scoring and rigorous personal interviews to place the right person in the right position.

EFG’s staff of experts then uses a custom approach to adapt training to build upon the employee’s experience and perspectives, according to the company. EFG’s trainers spend thousands of hours every year visiting and observing different businesses and developing curriculum.

“After using our top performer hiring model to provide expert hiring and recruiting services, we train recruits by utilizing the ‘Interactive Inductive Process’ or ‘Guided Discovery Model,’” McGraw said. “People learn in three ways: by seeing, hearing and doing. Our training successfully incorporates all three of these ways, leading to a fantastic learning environment.”

EFG’s Marketing Solutions team works with clients to reallocate where their advertising and marketing dollars can be best utilized to generate the highest ROI, according to the company. Their consultative approach to marketing includes strategies to implement differentiating messages in all modes of communication designed to generate leads, enhance a higher degree of word of mouth, facilitate customer loyalty and make clients’ money.

“Most automotive retailers and lending institutions have continued to use the same advertising techniques that worked for them in the 80s,” said Jennifer Threet, chief marketing officer, EFG Companies. “EFG takes advantage of its 35-year history of automotive experience to propel dealerships and lending institutions from their comfort zone into a highly integrated world where online branding and e-marketing reputation management to builds successful consumer relationships.”

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Hyundai To Cut Job-Loss Protection From Assurance Program

LOS ANGELES – Hyundai plans to eliminate the part of its Hyundai Assurance program that promises Hyundai buyers their money back if they lose their jobs.

The job-loss protection guarantee was the backbone of the Assurance program when it was launched in January 2009. Job-loss protection was a key part of Hyundai’s marketing and advertising since then, reported Automotive News.

The offering is scheduled to end this week, according to EFG Co. Inc., the Irving, Texas-based company that has administered the Assurance program for Hyundai since its launch.

“It was very topical for times and really resonated in 2009, but in the meantime we’ve really broadened Assurance to be more than job loss,” said Dave Zuchowski, Hyundai’s U.S. sales boss.

Hyundai will continue to use Assurance as the brand for its warranty offerings, which include a 10-year, 100,000-mile limited powertrain warranty and 5-year roadside assistance coverage.

The job loss protection program will continue to cover customers for one year who buy new vehicles through March 31.

About 350 U.S. Hyundai customers have used the program to return their vehicles, Zuchowski said. Hyundai has sold more than 1 million new vehicles in the United States since Hyundai Assurance was launched.

Hyundai’s U.S. sales have risen from 401,702 vehicles in 2008 to 435,064 in 2009 and then to 538,228 in 2010. Its share of the U.S. market improved from 3.0 percent to 4.6 percent over that time.

“We actually see the elimination of the job-loss program as a sign of a recovering economy and we had never anticipated that this would be an enduring program,” Zuchowski said. “We welcome the day when it’s really no longer as relevant in the showroom or as required in the marketplace.”

Paul Budvitis, EFG’s president of business development, says the company continues to administer a similar job-loss protection insurance product for 300 to 400 non-Hyundai dealers from a variety of brands.

Although its partnership with Hyundai is ending, EFG hopes to administer the job-loss protection product with other automakers and dealers, Budvitis said. EFG and Hyundai had an exclusivity deal through the first year of the Assurance program.

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EFG Companies Partners With Ristken Software Services

LAS VEGAS — EFG Companies, a performance management company for automotive retailers, announced at the 2010 F&I Conference and Expo that it formed a new partnership with Ristken Software Services. This long-term arrangement will combine dealership technologies from both companies in solutions that will support both sales and F&I improvements for EFG’s dealership clients.

“We are excited to integrate Ristken’s proven technology solutions into the EFG dealership performance model that has been instrumental to the financial success of our clients for more than 30 years,” said John Pappanastos, CEO and president of EFG Companies. “This move brings together EFG’s robust sales execution and personnel management technology in SalesEDGE CRM with Ristken’s productivity tools and eBusiness solutions, including e-rating, e-contracting and e-remittance.”

As part of the relationship, EFG will also integrate Ristken’s menu selling solutions that allow dealers to effectively present all F&I products to their customers while ensuring legal compliance within the F&I department.

“Ristken is proud to be selected as a key technology solution provider for EFG in implementing their strategic vision for elevating dealership performance,” said Patrick DeMarco, president of Ristken. “In today’s environment, operational and productivity improvements are the keys to driving profits. EFG is on the forefront of providing solutions that directly address these opportunities, and we see Ristken’s platform of eBusiness solutions as a perfect match for EFG and their clients.”

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