This is truly a great time to be an agent with Wise Financial Products. In addition to our recently successful launch of ID TheftWise, we have reached an agreement with one of our longtime agents to partner the most anticipated solution to one of the largest dilemmas facing your dealer clients -- compliance.
Larry White, one of our agents in North Carolina, began research and development on this project over five years ago and sought out one of the most recognized automotive attorneys in the country, James B. Rivenbark, also from North Carolina as a partner in the venture. They formed DealerCompUSA,LLC, Dealer Compliance Services, in an effort to bring federal compliance training directly to all employees at Dealerships as required by federal law. Appointed as an Associate Member with the North Carolina Automobiles Dealers Association, their training has been enthusiastically received throughout the state.
According to White, “Over the past three years, our focus has been direct compliance training inside the dealership over a four hour period followed by a complete dealership inspection and audit which took approximately another four hours. Although the compliance program was highly successful, the challenge has always been to create a method of delivery to reach the entire country.”
The most logical approach, of course, was the internet. What began as a concept in October of 2007, DealerCompUSA’s On-Line / On-Demand Compliance Training website is now “live”. The core of its compliance training revolves around ten unique PowerPoint with Voice presentations addressing issues of required federal compliance concerning six laws, and the other four specifically for due diligence training to fend off civil, class or federal actions against the dealer in such areas as Sexual Harassment, Diversity, Magnuson-Moss and Truth In Lending.
A unique text-to-voice product discovered from a small company in Israel gives DealerCompUSA the latitude to change their training presentations immediately as current laws change and court decisions are handed down which may change legal interpretations.
In addition to the training sessions, DealerCompUSA includes in its services all of the required compliance documentation for six laws and also a Document Package (24 total) containing all sales and F&I agreements plus other documents to minimize the Dealer’s liability in printable PDF format. And since compliance inspections and audits are also required, DealerCompUSA provides those documents for agents though Wise F&I website.
“Before the website, I was able to obtain new dealer clients to sell my products because of our structured compliance program, but more importantly, it gave me valuable face-time with the dealer each time I performed an inspection. It kept the so-called major players such as, JMA, Zurich, etc., out of the dealership,” said White. “We are excited to form a partnership with Wise F&I agents to allow them the same benefit of having a unique and timely product to enhance their relationships and product production at a very affordable price to the dealer.”
But, first things first. We invite you to visit our site partnered with DealerCompUSA by visiting http://gapwise.dealercompusa.com and navigate through all of the services available and then remind your dealers that compliance is not a suggestion, it’s the law!