BridgeForce News | January 23, 2017
HEADLINES
Don’t get sued: Choose the right clients
Ask key questions to prospects to screen for good clients.
There are many ways advisors can stay out of court and avert regulatory attention, but scrutinizing your prospective clients carefully to avoid picking the wrong clients will help you reduce your chances of getting sued.
Here is an example of how this can happen…
Where is the investment industry heading in 2017?
At the Empire Club’s recent Annual Investment Outlook 2017, Ian Russell, President and CEO, the Investment Industry Association of Canada (IIAC) revealed the results of IIAC’s latest survey of investment CEOs. The survey coincided with the election result south of the border and, as a result, many responses were in line with the market rally seen in the aftermath of Donald Trump’s election.
COMPLIANCE
Updated Reference Documents supporting industry recommendations on needs analysis and “reason-why” letter now available
This is to inform members that the following two Reference Documents have been updated to support the needs analysis and “reason-why” letter recommendations put forward in our policy paper, Insurance Distribution in Canada: Promoting a Customer-focused System (2016).
New obligations and minor report form changes
Please note that, effective June 17, 2017, there will be new obligations related to domestic and foreign politically exposed persons (PEPs) and heads of international organizations (HIOs) resulting from amendments made to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and associated Regulations. Please see FINTRAC’s guidance describing these obligations.
SUPPLIER COMPANY NEWS
Assumption Life
Contest: RRSP, it’s time (January 1 – March 1)
For each deposit of $5,000 or more, you will recieve a ballot for our weekly draw.
BMO Insurance
Printing error on life application
As a result of a printing error on the new Face-to-Face Life Insurance and Critical Illness Insurance Application Form, 126E (2016/10/01), there is a serious omission of “No” tick boxes for Questions 2b and 3 under Section 7 – Insurance History.
Empire Life
Insight (January 9)
Update: 8 Pay New Product Introduction Delayed, Policyholder tax reporting for 2016 and RRSP season 2017, Ian Hardacre Named Chief Investment Officer of Empire Life Investments, Regulatory Documents for Segregated Funds, Advisor Compliance Monitoring.
Equitable Life
Equitable Life News
Preferred Estate Transfer and Preferred Retirement Solution, Is your client a suitable candidate for a collateral loan using life insurance?, Engage your social media audience.
EZcomplete Updates
EZcomplete now includes EquiLiving critical illness insurance and business ownership.
Foresters Financial
Introducing Non-participating whole life insurance
It’s the start of a new year and an exciting time at Foresters Financial as we introduce 3 new non-participating whole life products.
Contest: Power your sales (January 1 – March 31)
Earn valuable rewards from Foresters including a power Surface Pro 4.
Humania Assurance
HuGO, a complete product
You’re curious and want to learn more about HuGO? Watch this video and let us guide you through the product and the intelligent platform process.
iA Financial
Economic News
This week, Donald Trump becomes the president of the United States and the Bank of Canada is cautiously optimistic
iA Connected
2017 RRSP Campaign important dates, RESP: The new issue application is now more complete, Segregated fund allocations as at December 31st 2016, Revised preapproved RRSP loan offer.
La Capitale
Admin bulletin: News for January 2017
Rating – Adjustments, Changes to the Long Term Care Insurance product, Adjustments to life and term certain annuities, New tax rules, Additional information.
RBC Insurance
Updated wealth materials now available
To comply with regulatory re-filing requirements, the following RBC® Guaranteed Investment Funds (RBC GIF®) point of sale documents have been updated and are now available on the new Sales Resource Centre.
SSQ Financial
2017 Economic perspectives
Will 2017 be a good year for investors? Optimum Asset Management (OAM) and Triasima tell us about their economic prospects for 2017, including the impact of a Donald Trump presidency on financial markets, the debt load of Canadians and low interest rates around the world.
2017 SSQ Merit Plan
The SSQ Merit Plan 2017 allows you to combine your individual insurance and investment sales to RULES
earn even more! How? You accumulate credits for individual insurance sales or segregated fund sales or both!
SSQ Newsletter vol.5, No. 1, January 2017
Dates to remember – 2017 RRSP Season, New Redemption fees calculator online, B2B Bank TFSA Loan Program, Adjustments to our individual life insurance products, The SSQ Merit Plan Returns in 2017, Investment Statements.
Information and links to other websites contained in this document are solely for the information and convenience of BridgeForce Financial Group brokers. This information is not intended to provide financial, legal, accounting or tax advice and should not be relied upon in that regard. No endorsement of any third party products, services or information is expressed or implied by any information, material or content referred to, included in, or linked from this bulletin. The approved materials are the property of individual companies used under license and may not be copied, transmitted or used without express written approval. E. & O.E.