In the 1960s, Pat Ryan & Associates popularized finance and insurance training. Auto dealers grew accustomed to sending their F&I managers to a rigorous two-week, off-site training course to sharpen their skills.
Today, dealerships are looking for ways to keep their top-earning employees well-educated on their trade — but in the store as much as possible. To meet that demand, many F&I training companies have added or expanded the digital components of their programs, offering training that F&I professionals can participate in without leaving the dealership.
Though some parts of the training translate well to independent study, many F&I professionals believe virtual training has its drawbacks. F&I training companies are looking to strike the right balance by increasing the availability of educational materials online, while finding ways to meet with F&I managers in person.
F&I training company EFG Cos., of Irving, Texas, for instance, has had an uptick in requests for in-store training and to put more information online. The Association of Finance & Insurance Professionals, a nonprofit group that offers training and certification for F&I managers, told Automotive News that more dealerships have been requesting in-person training.