Tag Archive | "First Dealer Resources"

An Interview With Bob Corbin

IAS has seen tremendous growth under the leadership of its CEO and president, Bob Corbin. As the competitive landscape evolves and traditional service contract providers try to break into the aftermarket product world, Corbin has taken a proactive approach. By purchasing an established, robust service contract company known for their top-notch training, IAS now has a complete F&I solution – offering custom aftermarket technology solutions, turnkey reinsurance, F&I management, a training institute, and a suite of VSC products. And they are doing it all in-house.

Corbin was excited to discuss the newest happenings and offerings at IAS. “We don’t outsource anything,” says Corbin, “We don’t rely on outside vendors or others for our software, or for that matter, anything that we do. We always have complete control over the products and their delivery of the IAS promise – being the complete F&I solution for our agents and dealers.”

Headquartered in Austin, Texas, IAS also has a 40-person, state-of-the-art training center in Oklahoma City and administrative offices in Dublin, Ohio. Corbin describes the training company they recently acquired, First Dealer Resources (FDR) as “one of the industries’ best F&I development and training companies.”  He has known the founder (now president of IAS’s vehicle service contracts), Frank Klaus for over 30 years.  “We could have pursued any privately held VSC company. Frank and First Dealer Resources were first on my list for a couple of reasons. They have a really strong vehicle services contract suite of products for automobile and recreation vehicle dealers, all fully insured by multiple A-rated multi-billion dollar insurance companies. They are also known for their in-store F&I management. They deliver a really high performance for some of the industry’s most profitable F&I operations, and they have developed proven and practical systems and processes that deliver consistent, best of class results for the dealers.” Corbin is proud to say that the students who become certified through their training institute consistently perform in the top 1% in the F&I industry.

In May, Corbin says they introduced “the new IAS” at their first agent conference in South Beach. “Our new executives and business partners made the case for what makes IAS a complete F&I solution,” says Corbin. And because of its success, Corbin says it will likely be the first of what will become an annual agent conference.  Future conferences will likely focus on expanding offerings and solutions, and increasing the penetration of F&I products they currently sell in the F&I department.

Corbin got his start very young, working with a leading VSC company in 1978. “I worked probably every single position in sales and in training prior to being recruited to run IAS as its CEO fourteen years ago.” The thing he likes most about the industry is the people. “It’s just full of highly dynamic, entrepreneurial people. Some people start out as your clients and become very close friends over 20 and 30 years in the industry.”

Corbin credits his family with having a big role in his success. He has been married for 27 years and has a son, 21 and a daughter, 24  – both of whom he says are very active in Austin. His family supports the charities of the Austin Children’s Shelter and the Austin-based Zach Theater, a local theater that raises money for the Dell Children’s Hospital and the Zach Charities.

When he isn’t behind a desk, you might find him knee deep in the everglades. He says his passion for deep sea and backcountry fishing haven’t yet landed him any close encounters with gators but he has managed to catch a few red fish, snook and trout. For Corbin, fishing is the ideal get-away from the day-to-day routine.

In the future, Corbin says he just hopes to keep doing what he is doing. “We’ve really built a great team.  And now with our acquisition, we even have a better team of senior executives, sales and training talent.  I want to continue to develop IAS into a larger and larger, and better and better company.”

Advice for someone new to the industry? Corbin says he learned much from his mentors early on, and was fortunate to have some great ones. He recommends anyone getting started would be well served to do the same. “Find somebody who is willing to mentor you and teach you the industry.  And don’t be afraid to make mistakes. Everybody is going to make mistakes, especially somebody new to the industry. As long as you learn from your mistakes, it’s okay to make them. But most importantly, grab on to a mentor and really learn from that person. That is probably the best advice I could give anybody  – it’s what worked for me. “

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IAS and First Dealer Resources Join Forces

Austin, Texas – IAS, a provider of F&I programs and technology to general agents and dealerships nationwide, announced a merger with First Dealer Resources (FDR) and its group of companies, which includes American Colonial Administration LLC, the Millennium Automotive Protection brands, and their automotive training institute (ICTI). Financial details of the transaction were not disclosed.

FDR’s automotive management consulting experts, line of vehicle service contract programs and university-level dealership training will round out IAS’ portfolio.

“For thirty years IAS has excelled at developing and administering ancillary products. And, if you know anything about FDR, you realize why its one of the most successful automotive management consulting firms of its kind in the industry. So the highly complementary and compelling acquisition of FDR decisively accelerates our vision of creating a single, dominant F&I company,” said Bob Corbin, CEO, IAS. “Providing our rapidly expanding network with a more robust portfolio of business and profit building resources, now complete with an industry leading VSC and cutting edge training is sure to open many doors for our agents and create new found profit centers for our dealers.”

As a result of this partnership, IAS enters the vehicle service contract market via acquisition with a full spectrum of products and a team already in place. Notable additions to the IAS executive team include Frank Klaus, former founder and CEO of FDR, who will now serve as president of VSC for IAS. Chris Kerby, former president and COO of FDR, will now serve as president of Sales, Marketing and Training for IAS; and Brad Hunter, president of American Colonial Administration, will continue in the same capacity. The FDR executive team, along with current employees, will continue to operate out of its existing facilities headquartered in Oklahoma City, Ok., and Dublin, Ohio providing the same level of personalized service their clients have become accustomed to.

“This is an excellent fit with extraordinary upside potential. By combining our strengths we ultimately create a preeminent market force with a significant competitive advantage, day one,” said Kerby. “An important consideration that makes this coalition work really well is the deep seeded trust and respect our teams already had for one another based on our long standing relationship that spans more than two decades. Most importantly, we’ll now have experts for each facet of the business and best of class offerings in each segment; and those resources will be accessible to our clients, agents and dealers.”

“This marks the beginning of an exciting time as the FDR products, services and personnel become a part of something even bigger and have the opportunity to create something even greater,” said Klaus. “Our demonstrated track record of success with F&I management, vehicle service contracts and world-class training coupled with our team of experienced employees perfectly plays into the IAS strategy.”

Agents and dealers who are interested in learning more about the new IAS product portfolio are invited to visit IAS at the Agent Summit at Caesar’s Hotel Las Vegas March 10-12, 2014 at booth #2 or in their private suite – Octavius 7.

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