BridgeForce News | October 31, 2016
HEADLINES
Year-end tax planning 2016 webinar
(Nov 9, 2016)
There are many tax strategies and tax-planning opportunities that you can help your clients take advantage of before Dec. 31. From tax-loss selling to charitable donations, from RESP optimization to the tax credits that will be eliminated after 2016, Jamie Golombek reviews some of his major year-end tax planning tips.
The importance of cyber security
Over the past few years, a growing number of cyber security breaches in the financial services sector have resulted in the theft of consumers’ identities, assets and confidential information. Increased reliance on information technology, coupled with new types of products and services, has made proprietary data and consumers’ personal information more vulnerable to such attacks.
Financial planner to become a restricted title
In proposals released yesterday the MFDA points out that, in most of Canada, advisors can call themselves “financial planners” and hold themselves out to the public as experts without having met a minimum proficiency standard. The regulator intends to make changes that will put an end to the use of these “misleading business titles” and reduce confusion among investors.
COMPLIANCE
Providing a “best interest” standard for advisors may not raise the bar
Advisors across Canada are worried about the Canadian Securities Administrators’ (CSA) proposal that all advisors be held to the “best interest” standard. Currently, advisors must deal fairly, honestly and in good faith with clients. In fact, both the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) include the best interest standard in their respective provisions addressing conflicts of interest so that there are certain safeguards even without the proposed changes. So, why all the fuss?
SUPPLIER COMPANY NEWS
Assumption Life
What’s Up, Assumption Life?
Types of insurance coverage available, Medical questionnaire, Sum insured, Competitive rates, Additional coverage, InstaTerm and InstaTerm Deferred will no longer be available after October 28, A total of 9 non-medical products, New promotion for non-medical products, Updated documents for the new products, Don’t forget to update Lia on October 31.
Canada Life
Meeting: Canada Life days (Oct 25 – Nov 10, 2016)
Growing your business in a changing world – Canada Life is here to guide you with the strategies, tools and support you need to achieve success with your clients and grow your business.
Newslink
Get up to speed with new Life17 resources, Participating policyowner dividend scale announcement, Updated Chinese participating life insurance brochures, Medical history questionnaire now available in Chinese, Predictable retirement income for life, WealthCentre updates: Managed solutions support materials.
Updated 2016 policy change guidelines
We’ve updated some of our policy change deadline dates so you now have more time to submit a request and have it processed as a current (before end of 2016) life insurance product. Previously, all 2016 policy change requests (without underwriting) were due Nov. 1. This means you have more time to talk to your clients about changes to their current life insurance products before the new tax legislation takes effect on Jan. 1, 2017.
Desjardins Insurance
Webinar: A wave of changes at Desjardins
(Nov 7 – Nov 29, 2016)
The purpose of this session is to help you get ready for all the changes that will be taking effect on January 1, 2017. We want to make sure you have all the information you need so you can start preparing for client meetings.
Empire Life
Insight (October 26, 2016)
Introducing Optimax Wealth™ and Solution ART, Register for an Emblem demo, Fast & Full Just Got Faster! – New Products Added and Shorter eHQ question sets, Empire Life Dividend Growth GIF – harness the power of dividend investing, Envision 10.6 now available, Annuity Changes, Revised Commission ScheduleReminder: RSP to RIF Conversion letters.
Equitable Life
Launching important product changes
Equitable Life® launches important product changes that simplify our product design and align with the new tax rules!
Limited Trading Authorization in GDA and Seg Applications
We’ve built LTA into our applications to simplify the process of submitting client requests. View a list of transactions that can be completed with LTA here.
New Phone Number: Savings and Retirement Advisor Services
A new phone number has been set up that gets you directly to a person without the hassle of navigating the call tree. Simply call the new toll-free phone number: 1.866.884.7427 and press 1 for English or 2 for French to speak to a knowledgeable Advisor Services team member.
Foresters Insurance
Important dates for submitting applications ahead of new tax legislation
Foresters remains committed to providing our distribution partners and their clients with competitively priced permanent products. We are hard at work on new products and will soon be announcing exciting new additions to our product portfolio. Below is a complete list of changes and key dates. We will not be able to backdate any policies issued after December 31, 2016.
iA Financial
iA Connected
Tax Reform – Reminder, 2016 Ultimate Question | Life Insurance and CI, Abolition of contract conversion fees, Guaranteed Interest Funds | Discover our newest rates, Interface Suite | Transition Critical Illness, We are now on Instagram!
The U.S. economy is gaining momentum
This week: Our neighbours to the south are seeing their economy gain momentum in the third quarter.
La Capitale
Client assignments between our distribution channels
Please note that effective October 28, 2016, we are implementing a new company policy with regard to portfolio purchases or sales involving more than one distribution channel. The objectives of this company policy are as follows…
Manulife Financial
2017 Life Insurance Tax Changes Series
Federally legislated changes to the tax rules for insurance and annuity contracts take effect January 1, 2017. Here’s a look at how those changes will impact the taxation of prescribed annuities and the insured annuity concept.
Manulife experts discuss oil
Watch this video and learn what Sam Sivarajan, Managing Director and Head of Manulife Private Wealth and Philip Petursson, Chief Investment Strategist of Manulife Investments have to say on oil prices.
RBC Insurance
2016 Year-end
Year-end is fast approaching and we at RBC Insurance® are working hard to get you to the finish line! We want to ensure that your sales are counted towards 2016 production, commissions are paid, and most importantly, that your clients are protected through the RBC Insurance solution you have recommended.
2017 Student Savings Program
We are pleased to announce that the 2017 Student Savings Program is available from October 1, 2016 to September 30, 2017. And great news! The Medical Student Offer has been extended for another year! (Advisor guide)
Impacts of the Prescribed Annuities Tax Change
Please read over the impacts of prescribed annuity tax changes. This message illustrates the impact of the changes and highlights solutions and tools from RBC Insurance® for your clients.
SSQ Insurance
SSQ Newsletter
How SSQ chooses its fund managers, Simplified procedures in New business for individual insurance, Quarterly fund performance reports for SSQ Strategy and Celestia GIFs, A.M. Best reconfirms the credit ratings of SSQ, Life Insurance Company Inc.
Sun Life
NewsFlash
Life just got brighter for clients with in force Sun Par policies, 4 easy ways to start talking about retirement goals, We’re working on locating clients who are missing or have unclaimed property.
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