BridgeForce News (June 13, 2022)
BridgeForce Updates
- Introducing BridgeForce Rewards
- Referral Campaign
- Non-Medical Limits
- BridgeForce Advisors Facebook Group
Industry Headlines
CRA clarifies tax treatment of settlement payments related to RRSPs, other plans
In an income tax folio, the Canada Revenue Agency clarified its position on settlement amounts and registered plans.
Insurance advisors must adapt to post-DSC seg fund world
Some advisors have moved from DSCs to seg funds with chargebacks.
How new First Home Savings Account can help your clients
Clients can double their money with this plan if advisors invest it right, says Mackenzie Investments estate planning expert.
Compliance
FSRA Highlights (June 2022)
We are pleased to send you the May summary of key activities from the Financial Services Regulatory Authority of Ontario (FSRA). The newsletter is designed to help you quickly review key initiatives during the past month. Our goal is to provide you with relevant communications and information to keep you informed of the work FSRA is doing as we serve Ontarians.
NEW Finances 50+ Website
FCNB is excited to announce the launch of a new website dedicated to helping older adults prepare for and protect their retirement.
Do I have to report a breach?
To check out a 1 minute YouTube video “Obligations for reporting breaches”, click here.
As we saw in February, the first step is to determine the risk of significant harm, and the sensitivity of the information and to notify BFG. Further, many carriers require advisors notify them immediately if their clients are affected.
In March we looked at when and how to notify affected individuals. But when do you need to report?
The OPCC (Officer of the Privacy Commissioner of Canada – https://priv.gc.ca/en/) has a number of resources available to help you determine how to manage a breach.
BridgeForce Compliance News (June 2022)
- Title Protection
- Market Conduct Framework
- FSRA CE Penalties
Previous BridgeForce Compliance News Issues
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
Microsoft stopping service for Internet Explorer
In June, Microsoft will remove all versions of Internet Explorer from Windows operating systems. Canada Life has completed extensive testing to ensure all systems and platforms you need to do business with us will function properly on other browsers. We encourage you to switch your default browser to Microsoft Edge or Google Chrome.
Computer Picks
June’s Recommendations
- Microsoft Surface Pro 8 – $1,299 (SALE)
- Microsoft Surface Laptop 4 – $1,299
- Dell Latitude 3420 (Business class) – $760 (SALE)
Recommended Computer Specs
- Intel Core i5 (11th Gen or higher)
- 8 – 16 GB RAM
- 256 GB SSD or higher
It is strongly recommended to purchase computers from the Microsoft Store or Dell.
Supplier Company News
beneva
2021 Annual Report
Check out the highlights of 2021, an exceptional year.
BMO Insurance
Help protect your clients in all market scenarios
From rising inflation to interest rate hikes and geopolitical conflict, investors have experienced heightened levels of volatility in recent years.
BMO’s suite of Dividend and Enhanced Dividend solutions offer a way to smooth out the ride by earning steady income and staying open to potential growth – all while helping to mitigate risk relative to the broad index.
We lock-in gains – so you don’t have to
We’ll automatically lock-in your client’s market gains with monthly maturity guarantee resets – so that you don’t have to.
Desjardins Insurance
- Prestige Case Service | Distinctive support
- Newcomers: Relaxed requirements for students and spouses
- Discovery Series with Desjardins
- Adding the “COVID 19” medical risk in your pre screening guide
- Actions required for your clients turning 71 in 2022
- Helios2 Updates – Fund Facts and Contract and Information Folder
- Helios Contract Application – Forms Updated
Empire Life
- Accounting for Corporate Owned Life Insurance
- Look to our shining stars
- Multi-Strategy investor Q1 Commentary
- Fixed income update: Navigating a sea of volatility in fixed income
- The Hybrid Advisor: Marrying technology with a human touch
- Pay-out Annuity Confirmation Letters
- Can Anyone Afford to Lose Half Their Retirement Nest Egg?
- Planned giving using life insurance
- Easily make beneficiary changes online through My Advisor Dashboard
Continuation of Current Dividend Scale
The dividend scale for Empire Life participating products will be maintained at current levels until June 30, 2023, as approved by our Board of Directors earlier this year. We are also maintaining the Empire Life dividend scale interest rate of 6.0% until June 30, 2023.
Sales Campaign: The Bigger eBundle Bonus (Jun 30)
Until June 30, 2022, keep earning 15% or 20% more FYC by submitting new life and health insurance applications using the Fast & Full Life App when clients select and complete the Electronic Health Questionnaire (eHQ) and choose and receive eContract Delivery as compared to submitting paper applications and receiving a paper contract.
Equitable Life
Sales Campaign: Step Up Your Wealth Sales (Jan 1 – Dec 31)
Step up your wealth sales with Equitable Life® and you’ll be rewarded with a growth bonus for doing more business in 2022. Make this year your best year ever with Equitable Life!
Fidelity Investments
Weekly Market Pulse (June 10th)
Foresters Financial
Sales Campaign: Foresters All-Star Program (Mar 15 – Dec 31)
We want you to become a Foresters Financial™ All-Star in 2022. All-Star advisors may earn an additional 15% bonus on their Foresters Net First Year Commission (NFYC)!
iA Financial
Markets are plunging again
This week, markets are plunging again as U.S. inflation reaches a 40-year high.
Manulife Financial
0% floor for MUL Gold Level and YRT policies
Retroactive to November 20, 2021, the effective annual interest rate we credit to the Performax Gold Investment Fund (PGIF) account offered on existing MUL Gold Level and YRT policies* is guaranteed to never fall below 0%.
Sales Campaign: Grow for it 2022 (Jan 1 – Dec 31)
By helping more Canadians get the protection they need, not only will you grow your business, you’ll also be rewarded with an iPad Air.
UV Insurance
Offer our baby insurance and protect an entire family
The most precious thing a parent has: their children and their protection Our newborn life insurance provides a variety of benefits in the event of…
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