LAKE FOREST, Calif. — Dealer reinsurance program manager Portfolio 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 member dealers who sell Portfolio F&I products.
“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,” said former WADA President Chuck Ruwart, who provided leadership during the drafting of the agreement. “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 disclosed. Officials, however, said the program is designed to provide reinsurance profit participation benefits to WADA dealers who choose to sell Portfolio products, regardless of the size of their operation.
“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,” said Marsha Allen, the association’s executive vice president. “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.”
Graye Wolfe, Portfolio’s managing director, added: “We thank everyone we worked with in Wyoming, both in the association and our dealer supporters. 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.”