DALLAS — In a study used by major brands to measure dealer services client satisfaction, EFG Companies scored higher than Nordstrom and Ritz Carlton, the F&I product provider shared today.
Conducted by national research firm Troubadour Research and Consulting, the study had EFG Companies rated 9.6 out of a possible 10 for account representative engagement, 9.7 for compliance oversight, and 9.2 for F&I training. Study participants noted that EFG’s account service team is one of the company’s greatest strengths, describing the firm as a true partner with “skin in the game,” one that cares about their account and is focused on maximizing compliant profitability.
Additionally, 98% of EFG’s clients stated that the company’s representatives are F&I education and compliance leaders. Nighty-six percent of the firm’s clients regarded EFG overall as an expert in the F&I landscape; 96% stated that EFG understands the performance drivers of their F&I organization; and 95% believed that EFG has expert knowledge about government regulations and economic trends that affect their business.
“Once again, results were impressive. From our interviews with dealer principles, EFG is universally viewed as a partner, not a vendor,” said Stephanie Vance, Troubadour’s chief research officer. “This is also reflected in the customer service metrics, which are not only outstanding overall, but are strongest in the areas that are most important to dealers.”
Troubadour Research and Consulting conducts national research with brands such as USAA, JetBlue, Apple and Netflix. In administering EFG’s client satisfaction study, the firm analyzed qualitative and quantitative metrics from dealer principals, finance managers, general managers, and F&I directors.
In the qualitative analysis, recurring comments from dealer principals included: “I have a proactive relationship with my rep and VP. It’s an open door all the way up to John P,” and “These people are class acts. They’re the kind of people I want to go to dinner with, and just have a real partnership.”
EFG Companies has been in business for close to 40 years. It is the only product administrator awarded the ASE Blue Seal of Excellence, and the only administrator to be certified as a Center of Excellence by Benchmark Portal — a customer service designation that less than 10% of companies evaluated achieve. EFG’s field team is also certified with the Association of Finance and Insurance Professionals, and the firm is the only product administrator with a vice president who has earned a Consumer Credit Compliance Certification from the National Automotive Finance Association.
“Our partners’ feedback is an invaluable driver in the evolution of our business as we constantly work to provide the most effective engagement at the executive level to directly impact our partners’ profitability and growth,” said John Pappanastos, president and CEO of EFG Companies. “We are constantly asking ourselves if there is a better, more proactive way to accomplish our partners’ goals. This requires a commitment to empirically measuring our efforts by soliciting direct, objective input on our effectiveness as a whole.”