Tag Archive | "Portfolio"

Retail Expert Joseph Najar Joins Portfolio Sales Team


LAKE FOREST, Calif. – Portfolio, one of the nation’s leading reinsurance program managers for automotive dealers, has announced that Joseph F. Najar has taken a position as Reinsurance Specialist on the national sales team. The position requires working closely with dealer principals on business strategy and requires a thorough knowledge of all dealership operations. He will join with Ryan Hanlon, Managing Director, to expand the company’s national client footprint.

“I began my career in the technology sector serving both Fortune 500 and start-up companies. After the dotcom bust I migrated into retail automotive on my brother’s advice. I soon fell in love with the car business,” Najar explained. “I started on the sales floor, then was promoted over the years through F&I, used car and new car manager positions, and finally GSM. My background was very useful in leading my stores into today’s dealership technology strategies. I was successful all along the way, but when I learned about Portfolio from Ryan, I could see it offered me the best chance to combine my experience in retail management, finance, and strategic thinking in service to the goals of dealer-owners.”

Najar most recently was General Sales Manager with Rusnak Audi in Pasadena, CA. Prior to that he served with many franchises and dealer groups, including Van Nuys CDRJ, Audi Hawaii Jaguar Land Rover in Honolulu, Audi Auto Gallery in Woodland Hills, CA, and both the Galpin Automotive Group and First Automotive Group in Southern California. Earlier he was a top producer for BMW and Honda franchises.

His technology roots include co-founding SageMetrics, an enterprise-wide data-mining and reporting company; managing Earthlink Networks’ DSL deployment team; and wide-ranging technology roles with the Walt Disney Company.

“I am delighted that Joe agreed to sign on with us,” said Ryan Hanlon, Portfolio Managing Director. “I have known him for years and have witnessed his high performance in the stores. I was always impressed. I look forward to our mutual success in bringing the best reinsurance program and F&I support to dealers near and far. Working with a pro like Joe is going to be another reason to charge into each day to make dealers more successful.”

Dan Haugen, Chief Sales Officer, added, “Joe is an impressive industry executive. He embodies exactly the kind of retail veteran we want on our sales team to engage with both prospective and existing dealer clients. Ryan is a dynamo and I know he and Joe will make a great team. I look forward to great things from them.”

The post Retail Expert Joseph Najar Joins Portfolio Sales Team appeared first on P&A Magazine.

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Former Toyota Exec Joins Portfolio Reinsurance Sales Team


LAKE FOREST, Calif. – Portfolio, one of the nation’s leading reinsurance program managers for automotive dealers, has announced that Peter W. Jacobson, formerly of Toyota Financial Services in San Francisco, has joined the company as a Reinsurance Specialist. The position requires working closely with dealer principals on business strategy and a thorough knowledge of all dealership operations.

Jacobson most recently was Dealer Sales and Service Manager (DSSM) in the San Francisco office of Toyota Financial Services (TFS), beginning in that position in 2013. Prior to that, starting in 2007, he held the same position in the Sacramento office of TFS. In these assignments he was successful in increasing the company’s production in Insurance, Finance/Lease, Loans, and Floorplan. He earned the University of Toyota’s Master Certification in Toyota Quality Financial Management in 2002, and represented his region at both Dealer Council and Dealer Advertising Association meetings throughout his tenure as DSSM. In 2015 he was named National Champion in TFS’s Dealer Simulation contest at the National Sales Conference.

“Pete is a perfect fit with Portfolio. He has known us as a competitor for many years, and brings vast experience working with dealer principals in all aspects of their operations,” said Graye Wolfe, Portfolio’s Managing Director for the Western US. “As a former dealer I respect what he brings to the table and predict he will be very successful as one of our Reinsurance Specialists.”

Dan Haugen, Chief Sales Officer, added, “Portfolio’s growth has always been based on putting the most talented industry veterans in the field to serve our dealer clients. Our future growth depends on the same, with experienced Reinsurance Specialists working with our agents to deliver our unique value proposition to new dealer clients. I am enthusiastic about Pete joining our sales team, because he has the qualifications and energy help us build our business.”

A 1983 graduate of the University of the Pacific with a B.S. in Economics, Jacobson began his career with GMAC in California. After rising through several dealership service positions there, he was selected in 1990 to be trained in Insurance Products and F&I Operations at GMAC’s headquarters in Detroit. He was hired by Toyota Motor Credit Corporation (TMMC) in 1991 as a Dealer Relations Manager for the California Bay Area and later for Southern California. He was promoted to Performance Development Manager in 2000 when TMMC merged with Toyota Motors Insurance Services, further expanding his experience working with dealers to improve F&I processes, production, and profitability.

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Portfolio Again Recognized with Top Ranking in the Annual Dealers’ Choice Awards


Lake Forest, Calif. – Portfolio, one of the nation’s leading reinsurance program managers for automotive dealers, has been voted for the 11th consecutive year as a top provider of Vehicle Service Contract Reinsurance in the annual Dealers’ Choice Awards national survey sponsored by Auto Dealer Today magazine. Portfolio earned this year’s first place Diamond award, its 4th Diamond in the past 5 years.

“We strive every day to be the most dealer-centered company in the F&I business,” commented Brent Griggs, President and CEO of Portfolio. “This year’s award shows that we are meeting our dealer clients’ needs for value, service, and overall quality. We are grateful once again that our dealers have voted us at the top, and will always apply ourselves to earning their continued confidence in us.”

Chief Sales Officer Dan Haugen added, “I echo Brent’s thoughts and will emphasize that this award is shared with our independent agents along with our Managing Directors and Reinsurance Specialists. We know that Portfolio agents are the face of our company in the stores every week. Their superb servicing of our mutual clients goes a long way to explaining our long winning record in the Dealers’ Choice Awards. And, I will add, our quarterly meetings that are conducted by our Managing Directors and Reinsurance Specialists with our dealer principals also make an important difference in helping us earn this top award.”

The survey was conducted over four weeks in May in an audited process where hundreds of dealer principals and other dealership personnel scored their satisfaction with providers in 34 categories of products and services. Survey respondents are asked to cast votes only for providers with which they have firsthand knowledge and experience. Readers of Auto Dealer Today and F&I Showroom magazines were reminded regularly to submit their votes.

In addition to identifying their primary providers in each category, respondents must rate their providers in four qualities: (1) the product or service provided; (2) customer support and service; (3) the overall value for dollars spent; and (4) whether the dealer would recommend the provider to another dealer. The quality of the votes is weighted more heavily than the quantity in order to level the field for smaller providers.

The complete results and analysis will be featured in the Q4 issue of Auto Dealer Today. The complete list of winners can be found here. All award winners will be honored this year at the Industry Summit in Orlando, Florida, October 8-10.

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Portfolio Acquires Finance Concepts, LLC


LAKE FOREST, Cali. – Portfolio Group announced today that it has acquired a majority interest in Finance Concepts, LLC, one of its largest producing agencies headquartered in Folsom, California. Portfolio is owned by the company’s management and Capital Z Partners, a New York-based private equity firm. Terms of the transaction were not disclosed.

“We are very pleased to be adding one of the finest automotive finance and insurance agencies in the country to the Portfolio group of companies,” said President and Chief Executive Officer Brent Griggs. “Perry Montoya and Jeff Burnett have led Finance Concepts to exceptional growth since its founding in 2005 and we are delighted that they will continue that leadership as part of the Portfolio team.”

As a result of this transaction, Finance Concepts will have access to Portfolio’s significant resources to help accelerate their growth plan while Portfolio further strengthens its already excellent relationships with Finance Concepts and their large portfolio of dealer clients. No changes to the management of Finance Concepts are contemplated, as Portfolio’s investment is driven by their confidence in the current Finance Concepts leadership team.

Brad Cooper, Managing Partner of Capital Z, said about the transaction, “Our strategy for Portfolio combines continued strong organic growth with strategic acquisitions of successful agencies run by first class management whose business philosophy and approach are consistent with ours. Finance Concepts  meets each of these criteria and this acquisition significantly strengthens Portfolio’s distribution network.”

Based in Lake Forest, CA with operations in Dallas, TX, Portfolio is a leading independent provider of finance and insurance products and services to automotive dealers across the country with an emphasis on reinsurance management. The Company develops, sells and administers automotive dealer extended warranty programs including vehicle service contracts, GAP insurance and ancillary products.

More can be learned about Portfolio at http://www.PortfolioReinsurance.com.

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Portfolio Named Endorsed Provider by Wyoming Auto Dealers


LAKE FOREST, Calif. – Portfolio one of the nation’s leading reinsurance program managers for automotive dealers, has entered into an agreement with the Wyoming Automobile Dealers Association (WADA) to bring reinsurance profit participation and retrospective commission programs to the association and its dealers who sell Portfolio F&I products.

Former WADA President, Chuck Ruwart, who provided leadership in the agreement, observed, “Portfolio brings a true dealer-centered approach to the vital F&I profit center, so we believe they are a great fit with our organization. They were very creative in creating a win-win for both all our members and the association, so we endorse them to our members.”

Details of the agreement were not released, but the program is designed to provide reinsurance profit participation benefits to any WADA dealer who chooses to sell Portfolio products, regardless of their size.

Association Executive Vice-President Marsha Allen added, “Portfolio offers more products to our dealers than they previously had access to, and has created an annual bonus plan for our smaller dealers who sell them. Our larger dealers will have access to the same products plus Portfolio’s superb reinsurance management services. There are more profits here for everyone, and more vehicle protection options for our dealers’ customers.”

“We thank everyone we worked with in Wyoming, both in the Association and our dealer supporters,” said Graye Wolfe, Portfolio’s Managing Director. “I am confident that our local team of Fred Flores and Wendy Phillips of FITS Services, supported by our Reinsurance Specialist, Lance Young, will deliver great service and value to all the participating dealerships.”

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Portfolio’s Dallas Office Is Named Best Place to Work For in Texas


DALLAS – Portfolio has been named one of the 2017 Best Companies to Work For in Texas. This year’s award is the first time the company has entered and been recognized in the survey. The awards program was created in 2006 and is a project of Texas Monthly, the Texas Association of Business (TAB), Texas SHRM and Best Companies Group.

“Our Dallas office is vital to our company and our clients, being responsible for Vehicle Service Contrract administration and many facets of reinsurance company administration for our dealer clients. Our Dallas team is at the core of Portfolio’s brand promise,” observed Brent Griggs, President and CEO. “This award shows that our Dallas employees are not only 100% engaged in our mission, but are enthusiastic about the opportunity to accomplish their important duties for all our stakeholders. They deserve every bit of the support we give them with our policies and practices.”

This statewide survey and awards program was designed to identify, recognize and honor the best places of employment in Texas, benefiting the state’s economy, workforce and businesses. The 2017 Best Companies to Work for in Texas list is made up of 100 companies. Portfolio has been named one of the Best Companies to Work for in Texas.

To be considered for participation, companies had to fulfill the following eligibility requirements:

– Have at least 15 employees working in Texas

– Be a for-profit or not-for-profit business or government entity

– Be a publicly or privately held business

– Have a facility in the state of Texas

– Be in business a minimum of 1 year

Companies from across the state entered the two-part survey process to determine the Best Companies to Work for in Texas. The first part consisted of evaluating each nominated company’s workplace policies, systems, philosophies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final rankings. Best Companies Group managed the overall registration and survey process in Texas and also analyzed the data and used their expertise to determine the final rankings.

The list of the 100 Best Companies to Work for in Texas and how they rank will be revealed for the first time at the Texas Association of Business (TAB) Best Companies to Work for in Texas Awards Dinner and Celebration on March 23 at the Sheraton Austin at the Capitol in Austin, Texas. The winners will also be profiled by Texas Monthly in a special publication that will be released in conjunction with the event.

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