Canadians risk family harmony by neglecting estate planning
Half of Canadians do not have a will, a new TD survey has found. In addition, 28 per cent of Canadians without a will are between the ages of 53 and 71, and 39 per cent have not discussed estate planning with their children, according to the survey that was released this week.
“Estate planning is an essential step in making sure your assets are managed as you wish after your death,” says Rowena Chan, senior vice president of TD Wealth Financial Planning. “If you do not have a will, it can create a lot of conflict and unnecessary animosity amongst family members during an already difficult time – regardless of how much or how little you plan to leave behind.”
Millions in suspected Russian crime proceeds flowed through Canadian banks, companies
A powerful Russian crime syndicate that’s accused of laundering hundreds of millions of dollars around the world appears to have also flowed millions through nearly 30 Canadian bank accounts. A CBC News investigation has spent months tracking down some of the individuals and companies attached to those accounts and found the $2 million sent to Canada was spread among recipients ranging from a boxing manager in Montreal to a construction company in Calgary.
The cybersecurity challenge
Cyberthreats are evolving to become more complex and harder to detect. Financial advisors and their clients are prime targets of cyber criminals. Part one of this three-part series on cybersecurity highlights some of the cyberthreats that advisors face. Part two looks at some of recent major cybersecurity attacks against financial institutions; and part three offers advice on what to do if you have been hacked.
SUPPLIER COMPANY NEWS
Newslink May 2017
Life insurance that’s flexible for changing needs, Another year of solid performance for Canada Life’s participating account, Help maximize your clients’ portfolios with Individual asset diversification, Investing made easy.
Enhancement: Middle Name now displays on contracts
When completing paper applications and/or entering names and data for web applications, if you enter a name in the middle name field we will now display the middle name in full on the printed contract.
Important Announcement from Desjardins Insurance
Over the coming months several of our operations will be transitioning to our offices in Quebec. Your life wholesaling team remains unaffected by these changes and will continue to provide you with sales support.
Death Benefit Resets: A simple way to add value for your clients
We’ve had a great run in the markets, and many of your clients have likely seen some strong performance in their segregated fund portfolio. Now could be a great time to remind clients to consider locking-in those gains with a death benefit reset, and increase their Death Benefit guarantee to 100% of the current market value.
New Anti-Money Laundering (AML) and Common Reporting Standard (CRS) requirements
To maintain compliance with new Anti-Money Laundering (AML) and Common Reporting Standard (CRS) requirements, Equitable Life® has updated several forms and applications for life insurance and savings & retirement products.
New Segregated Funds from Equitable Life
Equitable Life’s Pivotal Select segregated fund lineup has been refreshed to include six new highly regarded segregated funds. The Pivotal Select contract offers clients competitive pricing and flexibility, as well as a wide range of asset classes and investment options in every guarantee class.
The 2016 Foresters Report was mailed out to all member households and will arrive in home anytime from May 15 – June 5. This report provides updates on our financial stability, important organizational news and brings our purpose to life through compelling member and agent stories that clients will appreciate.
Sales Promotion: Join us in spectacular Whistler (November 1 – June 30)
Foresters Financial and BridgeForce are very excited to give you the opportunity to join us in beautiful Whistler, British Columbia from August 27 to 31, 2017.
EVO | The simplified application process for all our insurance products, Two ways to sign when using EVO, Easing of medical requirements, Reduced premiums for our term life insurance coverage, Term protections | Change to preferred underwriting
EquiBuild extends its coverage, Improvement to the Disability Credit Rider.
Critical Illness (CI) coverage is on the rise in Canada. Are your clients protected?
Have you spoken to your clients about CI? We have created resources that you can use today to start the conversation about the need for CI.
Manulife Bank reveals debt truth in latest homeowner survey
Manulife Bank’s latest Homeowner Debt Survey has uncovered the truth: Many Canadian homeowners, particularly Millennials, are not prepared for unexpected expenses. These insights can help you start the conversation with your clients about financial solutions to help manage rising interest rates, unforeseen expenses or interruption in their income.
Spring 2017 segregated fund line-up changes
Please be advised that changes will be made to the investment options within the Manulife Private Investment Pools – MPIP Segregated Pools, Manulife RetirementPlus®, GIF Select, GIF Select (original), GIF and GIF encore, CAP, MLIA, MLIP, Series R, Maritime Life Elite Portfolio (MLEP) and Vista contracts.
Coming soon: RBC GIF – Now with “lower fees for everyone”
We are excited to announce that effective June 5, 2017, management fees on 7 of our Balanced Funds will be reduced by 20 basis points across all Series (Invest Series, Series 1 and Series 2) and across all Sales Charge Options (DSC, LSC, ISC), from the very first dollar invested!
RBC Payout Annuity applications now include mandatory information
We are pleased to advise that the updated RBC® Payout Annuity (POA) application is now available on the RBC Insurance Sales Resource Centre.
Make sure you’re ready for the changes on June 5
The changes to our investment products and services will be taking effect very soon! This means that new application documents must be used as of June 5, 2017.
SSQ Newsletter (May 2017)
Improved SSQ Celestia GIF portfolios, Reminder: Addition of a death benefit payment option, SSQ Financial Group announces positive results, Important Reminder: Make sure you’re ready for the changes on June 5, Changes to investment products and services – June 2017.
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.