BridgeForce News | February 27, 2017
HEADLINES
Equitable Life posts record-breaking results for 2016
Equitable Life of Canada today announced that 2016 was a record-breaking year. The insurer realized earnings of $80 million. Return on policyholders’ equity was 14.8%. Equitable Life said 2016 was marked by “exceptional growth with a new high of $1.1 billion for premiums and deposits and $3.7 billion in assets under administration.”
Help clients avoid identity theft
Having your identity stolen can be a painful and time-consuming experience. Identity theft, the deceptive use of the identity information of someone else, living or dead, to commit various fraudulent acts, is the fastest-growing crime in North America, and your clients could be vulnerable.
COMPLIANCE
Advisor groups fight potential ban on embedded commissions
Advocis has issued a call to arms to its members, urging them to connect with their clients to participate in a consumer campaign aimed at halting any regulatory steps that would remove choice in how financial advisors are paid.
CCIR expects to publish seg funds disclosure form this spring
The Canadian Council of Insurance Regulators has announced that it expects to publish a disclosure document this spring that is intended to better inform consumers about their segregated funds’ performance and all associated fees and charges.
Don’t get sued: The importance of really knowing your clients
There are many things an advisor can do to avoid being sued, but the most common reason clients sue is because their portfolios were riskier than they wanted — even if they were consistent with the risk tolerance set out on their know-your-client (KYC) forms. So, clear communication is the key to avoid getting sued and a strong paper trail is the basis upon which to mount a strong defence if you ever do.
SUPPLIER COMPANY NEWS
Canada Life
Keeping Canada Life Real Estate Fund strong, sustainable
Recent steps ensure diversification for managing volatility and risk in the Real Estate Fund, Make sure total client assets in the Real Estate Fund don’t exceed one per cent of the net asset value of the fund, Appropriate for clients with a longer-term investment horizon.
Life insurance and charitable giving
Bring a new angle to your estate planning by learning about the two key charitable giving strategies using life insurance. Quickly learn how life insurance can enhance your client’s charitable goals while providing tax benefits – examples included.
Desjardins Insurance
Your life insurance contracts can now be issued even faster
It’s now even easier for your clients to qualify for life insurance! We’ve eased our underwriting requirements for life insurance applications by eliminating certain restrictive tests and exams. Thanks to these changes, we’ll be able to process more applications and issue contracts even faster.
Webinar: A Wave of changes (March 9 @ 1pm)
We are redefining ourselves with the Wave of Changes at Desjardins Insurance! Please join us to discover all the great changes that took effect on January 1, 2017.
Empire Life
Enhancement to the Business Centre for Bulk Investment Statements
As you know, advisor copies of Investment Statements became 100% paperless since June 2016. They are now available on the Business Centre.
Insight
Register for the Empire Life New Product Portfolio Webinar, Introducing Life & Money Matters with Peter Wouters, Director of Tax Retirement & Estate Planning, Check Out Our Emblem Toolkit, Update to our Life & Health Insurance Application, Hybrid Solution 100 2017 Premium and Values Declaration.
The Empire Life New Product Portfolio Webinar
(February 28 @ 1pm)
Kick Off 2017 with the Empire Life New Product Portfolio Webinar to learn more about the launch of EstateMax 8 Pay, Optimax Wealth 8 Pay and the new Empire Life product portfolio.
Equitable Life
December 31, 2016 participating account quarterly update now available
Providing updates and commentary on the participating account.
Online banking makes saving simple
Did you know your clients can make additional deposits to their Equitable Life savings accounts through online banking?
Sales promotion: Go green. Make green. (February 1 – May 31)
If you haven’t used EZcomplete for face-to-face online applications yet, there’s no better time to start. Between February 1 and May 31, 2017, use EZcomplete to submit your new applications and make some extra cash!
Foresters Financial
Sales Promotion: Power your sales (January 1 – March 31)
Earn valuable rewards from Foresters including a power Surface Pro 4.
iA Financial
Canadian retail sales for December are lacklustre
This week, Canadian retail sales for 2016 end on a negative note.
Manulife Financial
A New Underwriting Study is Underway
Please be advised that a new underwriting study is underway which serves to enhance our Accelerated Underwriting program in the future. In essence, we will need to order APS’ on 5% of our Accelerated lives in order to monitor any potential anti-selection. The process began last week, and we are generally ordering one APS each day from a case chosen at random using an Excel tool. We anticipate this study will run for about 6 months until we can gather enough credible data.
RBC Insurance
We’re increasing FYC for a limited time
Great news! We have increased our first year commission for a limited time on RBC YourTermTM life insurance.
SSQ Insurance
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.
Merit Plan 2017
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 (February, 2017)
Funds and managers honoured for exceptional performance, On the radar: SSQ Beutel Goodman U.S. Equity GIF, The SSQ sales force is always there for you, RRSP Campaign in full swing – Important dates to remember, Reminder: New versions of the Insurance Application and Policy Change Form
Sun Life
Get back to basics: The fundamentals of UL
For clients, having freedom in retirement is about knowing they can cover costs, take care of themselves and enjoy their time. It’s about understanding the risks, being prepared for emerging needs and planning a legacy – while having enough money to last. It’s all a part of Money for Life.
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.