• Three new Quality Assured Programmes for F&I sales: ‘Funding Essential Skills’, ‘Selling to the Business User’ and ‘Developing the Manager’
• IMI-approved training aims to develop and maintain skills in the dealership
• Alphera partnering with the IMI on new ‘F&I Accreditation Pathway’ to ensure high standard in sale of finance products

ALPHERA Financial Services, BMW Group’s multi award-winning independent motor finance division, has launched three new IMI-backed Quality Assured Programmes (QAPs) to ensure high standards in the sale of finance and insurance (F&I) products.

They form part of Alphera’s new ‘Finance and Insurance Accreditation Pathway’, developed in partnership with the Institute of the Motor Industry (IMI).

The QAPs are designed for F&I sales specialists and dealership business managers, providing an effective training platform from which participants can ensure they meet the highest standards within the motor industry. Participants who successfully complete a QAP will receive an IMI-certified qualification.

Spencer Halil, director of ALPHERA Financial Services, said, “Consumers are more alert than ever to the risks of being sold an inappropriate finance product, and the motor finance sector is facing more FCA scrutiny to ensure customers are treated fairly. It’s vital that staff responsible for F&I sales at every level in the business have the skills and knowledge to present products in a professional and transparent manner. Launched in partnership with the IMI, these programmes provide a platform from which F&I sales specialists can improve their confidence and skills, and ultimately gain official IMI accreditation.”

The three new QAPs include: ‘Funding Essential Skills’; ‘Selling to the Business User’ and ‘Developing the Manager’.

The Funding Essential Skills programme is aimed at vehicle sales executives, offering a combination of theoretical and practical training methods to help participants understand the various consumer funding products and the role of finance in the current car market. Sales staff will learn the skills and knowledge necessary to properly qualify customers’ car finance needs, and deliver a clear and transparent presentation of finance products to empower customers to make an informed decision.

For business managers who are already familiar with the theory and practice of selling F&I products, the Selling to the Business User programme extends their skills further. It aims to improve business managers’ knowledge of F&I products targeted at business customers, and build on the skills necessary to sell these products effectively and professionally. The course enables participants to understand appropriate terminology and how to qualify business customers’ needs in the face of a variety of funding options. It also enables a clearer understanding of current business taxation and VAT implications, and how to use these as part of the finance sale.

Developing the Manager is also for business managers, and is focused on the development of ‘soft’ skills to improve team performance and develop greater interpersonal skills. Not directly linked to the sale of finance and insurance products, the course boosts the effectiveness of management, leadership and communication skills required to excel in a modern sales environment. ‘Developing the Manager’ provides a platform from which to start delegates’ development as professional managers.

Alphera supporting F&I accreditation in partnership with the IMI

In seeking to improve standards across the industry and enhance transparency in the sale of car finance, Alphera is supporting a new accreditation scheme in partnership with the Institute of the Motor Industry (IMI). The ‘Developing F&I Excellence’ accreditation scheme complements established Specialist Automotive Finance (SAF) programmes from the FLA, enabling a practical application of skills and knowledge. All participants will need to have passed the standard SAF competence test before completing the IMI F&I Accreditation.

Alphera sees this as a significant step towards establishing consistently high standards in the sale of finance products, helping dealers to improve customer satisfaction and confidence in the transaction process.