Help your clients avoid a common market danger
When Ian Hardacre from Empire Life is articulating what he believes to be the best approach in the current market environment, there is one word that keeps coming up: caution. Political uncertainty continues to dominate the news agenda, valuations continue to rise and rates remain low. Yet, despite all of the risks on the horizon, investors haven’t really reacted.
Beware of unforgiving and aggressive regulators
The main focus of most advisors is building their businesses. This task has been made more difficult now with the increased pressure from other hungry advisors and the emergence of robo-advisors. Thus, advisors tend to forget that there’s an even bigger threat that they need to attend to: unforgiving and aggressive regulators. Specifically, regulators can now impact your otherwise squeaky-clean reputation more than ever before with the increasing publicity given to infractions and penalties, which can affect your licence and your employment/agency agreement. Don’t be a victim of regulatory circumstances — be aware.
FSCO issues $1.1 million in fines over syndicated mortgages
Ontario’s Superintendent of Financial Services has issued a series of fines totalling more than $1.1 million following an investigation into syndicated mortgage investments. The Financial Services Commission of Ontario (FSCO) announced on Friday orders against eight parties that were involved with syndicated mortgage investments for real estate projects developed by Fortress Real Developments Inc.
FINTRAC Publishes Operational Alert on Laundering of the proceeds of fentanyl trafficking
FINTRAC today published a news release and an Operational Alert, Laundering of the Proceeds of Fentanyl Trafficking, to assist businesses subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act in reporting suspicious financial transactions that may be linked to the trafficking of illicit fentanyl, an opioid that is devastating many Canadian communities. (Operational alert)
Sample Reasons Why client letters now available
As communicated in the October 19 NewsFlash, effective January 1, 2018, all advisors should have best practices in place to follow the elements of needs-based sales practices as described in The Approach, including providing clients with a Reasons Why letter.
SUPPLIER COMPANY NEWS
Backdating rules for New Business and Client Service
Policy issue date may be backdated to save age, up to a maximum number of months, Backdating rules across all channels are being harmonized, Policies cannot be backdated before Jan. 1, 2017, in any case.
Tax reporting for segregated fund investment credits
In February 2018, clients who received an investment credit for their non-registered segregated fund policy will be mailed a letter regarding 2017 tax reporting requirements, Clients that received an investment credit for a non-registered segregated fund policy won’t receive a tax slip.
Starting February 12 we will be bringing you Fast-Track questionnaire, exclusive to DSign only. All you need to do is answer 11 simple Yes/No questions to complete your client’s application.
Webinars: A new beginning (January 23 – March 20)
We are excited to bring you Desjardins’ #2018, A New Beginning Webinar Series. We had an overwhelming response to our first webinar on “Introducing Our NEW CI Health Priorities.” Desjardins’ Living Benefits Specialist, Micah Neale discussed, why you should be selling Critical Illness with Desjardins Insurance today! Also, he provided a sneak preview to our NEW CI, Health Priorities.
CIO Conference Call “Thrive even as market volatility makes a comeback”, Winners of 2017 FundGrade A+ Awards!, Empire Life December 31, 2017 Investment Statements, Money Facts 2018 at your fingertips, Change to Portfolio Profile Questionnaire, Policyholder tax reporting for 2017 and RRSP season 2018, MDRT Certifying Letter.
RRSP season is here
Our RRSP marketing pieces and advisor tools will help you start the conversation with your clients, and encourage them to contribute to an RRSP!
Deadline for submitting old applications
Foresters Financial™ released the latest version of our Application for life and critical illness insurance on December 18, 2017 as part of the new Advantage Plus¹ launch. To assist with timely processing and compliance with current regulations, we will no longer accept old versions of our application after February 16, 2018.
Advantage Plus: Additional Purchase Option Rider
Advantage Plus from Foresters Financial now has an Additional Purchase Option Rider.
Money saving ideas for parents and grandparents
We love them, but kids are expensive to raise! Check out our list of simple, money-saving ideas to help you keep as much money as you can in your wallet.
Increased FYC on RBC YourTerm for a Limited Time
Great news! For a limited time, you’ll earn more first year commission when your clients are covered with RBC YourTerm™ life insurance.
2018 Economic Perspectives, Amounts transferable from a LIF to an RRSP/RRIF in Quebec, Are you familiar with the advantages of segregated funds?, Family Day, LEED Gold Certification to SSQ Tower.
Are you familiar with the advantages of segregated funds?
Since a segregated fund is an insurance contract, only insurance companies are able to offer this type of investment vehicle. And so, only authorized financial security advisors may distribute segregated funds. That exclusivity gives your clients access to advice, professional management and a number of other advantages specific to segregated funds.
Sample Reasons Why client letters now available, Offer your high net worth clients even more life insurance protection, 1.75%* 1-year rate on our redeemable insurance GIC – Don’t miss out, Boost your tax knowledge to help business owners and earn CE credits.
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.