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TMA Conference President's views

We had a great TMA UK Conference with 15 speakers. Given the 155 delegate tickets sold and over 100 organisations attending, I think lots of us had a great day. You will have seen Peter Stevens’ overview on the conference earlier this week.

I thought I would share my thoughts on two of the smaller sessions – both of whom are effectively operating as “start-ups” yet gave considered and very well received speech’s based on their complete knowledge of their profession. My other colleagues will no doubt have their favourites be it our Politician, Economist, Diamond specialist or Art expert sessions.

Crista Cullen MBE gave an inspiring insight into the ideology of how to generate ‘Peak Performance,’ out of a group with a clear Golden Goal. She gave an emotional tale of generating momentum, accepting failure as a prerequisite of success, and owning a culture that was committed to and trusted. Constantly referring to the correlations and demands of all our work environments, Crista went on to explain how confrontational and challenging conversations can ultimately define a direction that the team need to head. How being a, ‘team of winners’ is not always easy to achieve, but if there is engrained self-belief and focus on peoples strengths, committing to a common purpose and goal, anything is possible.

Crista is far removed from just being a business owner and gold medal winning athlete, she has set up a post sporting career foundation to help the fight in Wildlife Conservation in Africa, a cause very close to her heart, by hosting The Conservation Ball – March 1st 2018, Hurlingham Club. If her story touched you, or you would like to help her try and Be The Difference please follow this link.

We were also pleased to welcome Chris Bowring, Co-Founder of 4C Prestige as our final presenter of the day. Chris' company provide automotive finance, sourcing and sales to clients and he presented a very insightful view of the current car market and highlighted many areas that they advise clients on to help them maximise their car purchases.

There was a clear message that the market has been impacted by not only recent economic challenges but also Brexit, and the announcements around a move to electric vehicles in 2040.

Chris gave his opinion on the current state of the market and demonstrated how different cars depreciate including when they should buy cars and more importantly when not to buy. The standout fact here was the ever growing gap between what cars cost new and what they are worth when 12 or 24 months old.

The title of the presentation was 'What Car Dealers Don't Want You To Know' and Chris gave a great view into the need for dealers to sell new cars on fixed term finance contracts. In Chris' view, this is a big contrast to the most efficient way to actually purchase a car and he showed the differences between what dealers advise and what 4C Prestige advise in what they call 'Total Cost of Ownership' or TCO for short.

The TCO element got many of the finance focused members of the audience making notes. It's an often forgotten but very important part of the buying decision according to Chris and he stressed several times how important it is not to be caught up in just a monthly cost as that was only a small part of the equation and they see many clients who have purchased new cars now in negative equity. Something he said can be avoided.

One of the most pertinent points of the presentation was that everyone has a relationship with cars and whether they are being purchased for work, family or play there is an efficient way to purchase them but every car and model can be different. It is clearly a minefield and he was certainly a man in demand during the champagne reception afterwards!

I hope as members of the TMA or potential members you will continue to support us over the next year and hopefully join us at our 2018 London TMA conference.

Andrew J Pepper

TMA UK President