BridgeForce News (February 28, 2022)
BridgeForce Updates
Industry Headlines
iA Financial sold most seg funds in Canada last year
The company’s fourth quarter results were also strong.
39% of Canadians are confident in their retirement plan
Almost two in five (39 per cent) Canadians are confident in their retirement plan, according to a survey conducted by Pollara Strategic Insights for the Bank of Montreal Financial Group.
Interest rates are coming for growth stocks
It appears that 2022 might finally be the year investors choose value stocks over big tech.
Compliance
More support for a good ‘reason why’ letter
As noted in the article: “Advisors should make notes when a client designates a beneficiary on a plan or policy, Bhatia said, indicating why the client named that person as beneficiary, why they excluded other family members as possible beneficiaries and other relevant circumstances. Copies should be kept on file and given to the beneficiary to keep with their plan or policy.”
BC License fees
For our BC advisors and those licensed in BC, there have been changes to license renewals starting in 2022, namely, a differentiation of the renewal costs for individuals ($260) and corporate entities ($475), as well as for application costs for individuals ($275) and corporations ($775).
BC CE
The ICBC’s Insurance Council Rules course for new licence applicants and those needing CE will be available through their online portal starting March 15. The new course content will updated to include ongoing revisions
FSRA licensing requirements change
Effective February 25, Ontario life agents must:
- providing a 30-day timeframe for reporting changes to the insurers with whom an agent has a contract
- clarifying the requirements for individual life agents acting on behalf of a corporate and partnership agent
- indicating that education related to increasing sales and leads generation does not meet the continuing education requirement
Further, agents must provide details of their continuing education courses on their renewal applications in Licensing Link.
Advisor Education
BridgeForce-University.com is our On-Demand service that is unlike any other on-demand service you have ever seen. No narrated slideshows, and no fake webinars, just video recordings of live events!
Over 100 accredited presentations are available for you to earn all of the CE Credits that you need for your Licenses and Designations. See presentations from your carriers, PLUS access new information from other experts in the industry that are designed to grow and improve your knowledge and your practice.
Get the convenience of On-Demand, get access to our Live BFG Roadshow Webcasts, and earn all of the CE Credits that you need! Anytime, Anywhere, and on Any Device!
Tech Tips
News
The Windows 11 start menu moved: How to put it back where it belongs
For as long as I can remember, the iconic Windows Start button has been in the bottom left corner of my PC’s screen. It’s a predictable location for a button that’s a critical piece to navigating your computer, but in Windows 11, Microsoft has redesigned the taskbar.
Computer Picks
February’s Recommendations
- Microsoft Surface Pro 8 – $1,399
- Microsoft Surface Laptop 4 – $1,299
- Dell Latitude 3420 (Business class) – $919 (SALE)
It is strongly recommended to purchase computers from the Microsoft Store or Dell.
Supplier Company News
beneva
- 2021 FUNDGRADE A+ Awards
- Important dates – RRSP period
- Reminder – RRSP Toolbox
- Loyalty Bonus
- Quick Online Application Enhancement
- Reminder – Upcoming Webinars
- Social Networks: Getting Started on the Right Foot
BMO Insurance
Important changes on Living Benefit Plans
Look at the following changes that we recently announced on our Living Benefit (critical illness) Plans…
Canada Life
January 2022 market update – Volatility and inflation on the rise as central banks prepare for spring hike
Stay current and put yourself in a strong position for client conversations by reading the full commentary from Canada Life Investment Management Ltd. (CLIML). In this article find out what’s impacting the markets so you can help your clients stay on course during volatile times.
- Coming soon: New rates and enhancements for Canada Life’s term products
- Canada Life My Term promo pricing ending soon
- Reaching Chinese Canadians with new in-language term insurance advertising
- Insurance Operations updates
Promotion: Win Win Wealth (Jan 1 – Dec 31)
By having net sales of 5% of Jan 1, 2022 assets under management (AUM) you could receive a payment of 0.01% (or 1 bps of assets) of your Dec. 31, 2022 AUM.
Canada Protection Plan
Loyalty bonus program 2022
To qualify for the Loyalty Bonus Program (LBP), you must earn the minimum Net First Year Commission (NFYC) within the calendar year of 2022. To attain the next level in the program, the minimum NFYC must be obtained in each subsequent year!
This year’s minimum NFYC is $10,000.
Empire Life
- Great news! New, lower Solution Series term rates coming soon!
- An improved application process for juvenile life insureds
- Updates to the Life and CI Underwriting Guide
- Policy backdating to save age on the Fast & Full Life App
- Estate planning for blended families
- Multi-Strategy investor Q4 Commentary and Advisor Holdings Update
- Emblem Asset Allocation Update: January 27, 2022
- 10 more key tax issues and opportunities for investment clients and advisors
- The Empire Life RRSP & TFSA toolbox
Obtain duplicate tax documents for your clients easily via My Advisor Dashboard
Simply log-in to your account and go to the Tax support centre page. Under the Client tax document search you will be able to immediately search, access and download copies of your clients’ tax documents. The search feature will allow you to find tax documents via your client’s policy number.
Equitable Life
- Product Enhancements – Critical Illness
- Product Enhancements – 10 Pay
- Equitable Life launches Individual Insurance product enhancements
- Our new partnership with Cloud DX
- Important information regarding use of the form 350 Application for Life and/or Critical Illness Insurance
- This year’s RSP contribution deadline is March 1, 2022
- Help your clients this tax season with Equitable Life
- Evidence of Insurability requirements extended
The Make-It-EZ EZtransact contest is back (January 24 – April 1)
The Make-It-EZ EZtransactTM contest is back by popular demand! This time we are making it twice as nice with one $200 winner each week, and a Grand Prize winner of $2000 at the end of the contest! Just in time for your busy RSP season, EZtransact, makes managing your client’s policies quick and convenient.
Fidelity Investments
Weekly Market Pulse (February 25)
Foresters Financial
Use this approach with skeptical clients
Permanent protection. A happy retirement. Help your clients reach their goals.
Big incentives for smokers
Help your clients live a healthier lifestyle.
iA Financial
The Ukraine situation: we analyze the markets’ reaction
This week, we put the spotlight on the markets’ reaction to the Ukraine situation.
Stock market volatility | What to invest in?
With the current market instability, your clients may ask you to help them review their investment allocation and maybe answer questions on the same matter.
Let’s discuss inflation…a little more!
This week, we talk about inflation (again) and explore why geopolitical conflicts can be good investment opportunities.
Manulife Bank
A $1,000 cashback on new Manulife One accounts
To help customers save even more on their mortgages and help with moving costs or top up their RRSP1, we’re offering a limited time cashback incentive offer2. Until April 15, 2022, customers can qualify for a $1,000 cashback on new Manulife One accounts.
RBC Insurance
Changes to eDelivery for March 1, 2022
A final reminder that effective March 1, 2022, the transition period for the RBC Insurance® eDelivery process will end. To ensure you continue to receive settlement documents by email, eDelivery must be selected during the application process. If eDelivery is not chosen, both paper contracts and settlement documents will be paper mailed going forward.
SSQ Insurance
- Retail Investing with an Institutional Pedigree
- FundGrade A+: Our Fund Managers Recognized for their Outstanding Performance!
- Changes to the composition of the SSQ Fiera Capital Bond GIF
- Webinar Series
- Reminder – Your RRSP Toolbox
Sun Life
- Enhancements made to Health Coverage Choice and Personal Health Insurance
- Share videos and connect with Clients
- Live Webinar: The evolution of Universal Life (UL)
- We’re looking for Clients who are missing or have unclaimed property
- Changes to how you access continuing education are now live!
UV Insurance
Invitation | The perfect timing to get together!
On April 6th, our team is finally going out and coming to Toronto to present our new product and more!
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.