BridgeForce News | March 13, 2017
HEADLINES
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
Assumption Life
What’s up (February Edition)
Renewal rates are now available in the Producer’s Corner, Change to Dividend Scales for 2017, Read interesting articles on the CI Investments blogs, Outstanding performance by the Louisbourg Canadian Small Cap Fund.
Canada Life
Important dates fro 2016 policy deliveries and requirements
We’re wrapping up underwriting and policy issue for remaining 2016 life insurance policies. As part of that process, New Business is committed to issuing all pending 2016 (G2) contracts as soon as possible so policies can be delivered and Acknowledgement of policy received (AOPR) signed no later than March 31, 2017.
Wealth management operations update
February 2017 – Updated web path to electronic information folder – Segregated Funds
Empire Life
Insight
Child Riders Now Available in Fast & Full, Investment Illustrator featuring Class Plus 2.1 Update, Stay on track with Money Dates 2017, Introducing Life & Money Matters with Peter Wouters, Director of Tax Retirement & Estate Planning, Empire Life Investments appoints Ashley Misquitta Senior Portfolio Manager, U.S. Equities.
Equitable Life
Preferred Estate Transfer and Preferred Retirement Solution
Leave a legacy. Increase wealth. Save tax. Tax-efficient alternatives for estate transfer and retirement income.
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
A new Weekly Economic Publication
Employment: Canada’s full-time job creation numbers surprise to the upside and the U.S. labour market maintains its momentum.
RBC Insurance
Renewal commission rates
You may notice an adjustment on your RBC Insurance® critical illness and individual disability commission statement for the period ending March 3, 2017.
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!
New laws and regulations
Given the addition of Part XIX of the Income Tax Act (Common Reporting Standard) and the amendments to the Regulations Amending Certain Regulations Made under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, new rules will begin to apply as of June 2017 to non-registered investment accounts and life insurance policies with a surrender value (whole life insurance and universal life insurance).
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
NewsFlash
Changes to participating policies with special maturity dividends, Reprice of term additions on in force par policies, Don’t put clients’ PHI and HCC coverage at risk, Have you heard about the new Sales Desk?
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