LAKE FOREST, Calif. — Reinsurance and F&I products provider Portfolio has entered into an agreement with the Wyoming Automobile Dealers Association to bring reinsurance profit participation and retrospective commission programs to the association and Wyoming dealers who sell Portfolio F&I products.
Former WADA president Chuck Ruwart, who provided leadership in the agreement, said, “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.”
Agreement details were not released, but executives said the program will provide reinsurance profit participation benefits to any WADA dealer who chooses to sell Portfolio products, regardless of size.
“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.”
“We thank everyone we worked with in Wyoming, both in the association and our dealer supporters,” said Graye Wolfe, Portfolio’s managing director for the Western United States. “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.”
