Future-proof your F&I business

Almost 18-months after the Financial Conduct Authority (FCA) took full responsibility for consumer finance and with the majority of dealers now gaining full authorisation, AM’s F&I Compliance Conference is back. This year focusing on the current F&I landscape, a range of expert speakers from the industry will address the challenge of creating a sustainable and profitable F&I business which is fully compliant and meets the FCA’s ‘treating customers fairly’ (TCF) remit.

The conference speakers have been carefully selected and the conference itself will be designed to encourage lively debate for a genuinely interactive atmosphere where different views, questions and shared experiences will be welcomed.

Why the topic is so important?

There remains uncertainty surrounding the expectations from the Financial Conduct Authority (FCA). Our speakers will give their views and interpretations of the FCA regulations including the latest rules for GAP products and we hope delegates will be keen to share their experiences, thinking and ideas so attendees gain as wide a picture as possible across the industry in order to identify best practice which can be readily implemented on return to their businesses.

In many respects, the new regulations have led to a renewed focus not just on F&I, but the entire sales structure with some dealers and finance providers adopting new practices whilst others are opting for a business as usual approach.

In an industry which is process driven, the FCA’s refusal to implement a ‘tick box’ approach has been somewhat of a curved ball as dealers grabble with the challenge of creating a culture which is open, transparent and treats customers fairly whilst remaining profitable.

However, many industry commentators are upbeat with many believing the new FCA era is helping to develop higher trust levels between customers and dealers which will ultimately help to deliver more business. One of the aims of the conference is to move away from a message of doom and gloom, dispel a few myths and to explore how dealers can deliver a service which is genuinely customer-centric.

There are undoubtedly a vast number of questions, which, for dealers remain unanswered and ambiguous. Because interpretation of the FCA regulations is not clear cut, our conference will not make false promises and claim to provide the black and white answers many dealers would like, but we will explore the issues and provide expert viewpoints on the regulations to help dealers develop a strategy and culture which the FCA is most likely to consider compliant.

 

 

Our conference will be guidance driven with a focus on stimulating discussion and debate, it will provide a much-needed opportunity for industry colleagues to compare notes and openly confront some of the issues. The objective is to provide delegates with insights and understanding of the challenges facing the F&I sector and return to their businesses with new ideas and a holistic overview from some of the sector’s most senior and well respected F&I specialists.

 

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