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
Sales Contest: OK Google, How can I increase my sales? (February 19 – March 30)
Sell any non-medical product, as a policy or rider, and earn 1 ballot for a chance to win 1 of 6 Google Homes.
Update: Demystifying the Canada Life participating account brochure
Updated brochure helps clients understand the impact of the dividend scale interest rate on policy values, Dividend scale interest rate is only one factor that can impact participating policyowner dividends, It’s important to look at long-term rather than short-term performance.
Canada Protection Plan
Loyalty bonus program 2018
Our Loyalty Bonus Program (LBP) for 2018 is here. To qualify, advisors must earn a minimum Net FYC of $10,000. Applications must be settled between January 1st 2018 and December 15th 2018.
Insurance Roadshow (March 5 – March 22)
Desjardins Insurance specially invites you to its school on critical illness insurance where you will receive exclusive insights and tools to successfully boost your CI sales within the family and business-owner client segments. In addition, you’ll receive an introduction to our new critical illness product line and also have the chance to earn CE credits.
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.
Fast & Full Life App. earns 10% more than paper, Earn a $50 Bonus this RRSP Season for your 1st Fast & Full Investment App, Premium rate decreases for Solution 20 term life insurance, Senior Portfolio Manager Jennifer Law voted “Canadian TopGun Investment Mind”, Give your Clients Proven 5 Star Performance.
Webinar: The Approach to suitable sales and the reason why letter (March 2)
Canadian Life and Health Insurance Association (CLHIA) has created “The Approach: Serving the Client Through Need-Based Sales Practices”. It outlines the process advisors should follow to ensure the recommended product is suitable to the needs of the client.
Illustration software update, LIMRA Policyowner Satisfaction Survey, Interactive UL investor profile questionnaire, Equitable Life of Canada posts record financial results for 2017.
The final push to March 1st
It’s the final stretch to the end of the RRSP campaign. Here is a summary of important dates for the remaining days of the campaign. Take advantage of this time to promote the Saving could mean travelling! contest.
Tax reference sheet for 2018
Old Age Security, QPP/CPP, RIFF/TFSA/RRSP information, RESP, Tax Table by province.
Term 10 renewal offer
You asked and we listened! With new and improved client letters, the RBC Term 10 Renewal Offer is back. This industry first offer continues to help inforce existing RBC Insurance® clients replace their renewing coverage with RBC YourTerm™. And for you … an extra 5% FYC on all renewals from now until May 4, 2018.
Pay down your mortgage or contribute to your RRSP?, Change of name and manager for the SSQ OAM Treasury GIF, Universal Life insurance and estate protection: a winning combination, 2018 RRSP Campaign draws to a close – Important dates to remember.
Universal Life insurance and estate protection: a winning combination
Universal Life policy is an excellent financial planning tool and an effective tax shelter for investments purposes. A comparison between savings in a tax exposed environment and investments in a tax-exempt Universal Life policy shows in a concrete way the differences between the two investment options.
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