BridgeForce News (January 9, 2023)

BridgeForce Updates

Industry Headlines

CRA announces increase in prescribed rate for Q1 2023
The prescribed rate on loans to family members will rise to 4% in the first quarter of 2023, up from 3% in the current quarter.

Bank of Canada raises rate again to 4.25% — but opens door to staying there
The Bank of Canada raised its benchmark interest rate by 50 basis points on Wednesday, to 4.25 per cent. The move was widely expected by economists, who were anticipating a rate hike of either 25 or 50 points.

Compliance

BridgeForce Compliance News (November 24, 2022)

Licensee holding out – What you need to know
Helping aging clients in the new compliance regime

Previous BridgeForce Compliance News Issues

Advisor Education

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Tech Tips

News

New Report Shows Users Are Falling for Security and HR-Related Phishing Attacks
There has been a significant rise in phishing email attacks related to HR topics, especially those regarding new policies that would affect all employees throughout many types of organizations.

Computer Picks

Recommendations

Microsoft Surface Laptop 4 – $999
Dell Latitude 3420 – $959

Recommended Computer Specs

Intel Core i5 (11th Gen or higher)
8 – 16 GB RAM
256 GB SSD or higher

Supplier Company News

Canada Life

2023 market outlook report
Geopolitical risks, inflation and market volatility continue to raise the risk of recession. But overcast skies call for a coat, not staying indoors. To help you plan for what’s ahead, we’ve curated a diverse range of views and expertise from across the Canada Life™ shelf.

Insurance highlights of 2022
Exciting things have been happening in the world of insurance at Canada Life™. Let’s recap this year’s incredible journey and see what we achieved together.

Growing Together with Canada Life (Oct 1 – Mar 31)
You could receive an additional 25% bonus, up to $10,000, on life and living benefits insurance and segregated fund sales placed between Oct. 1, 2022 and March 31, 2023 with our Growing Together bonus offer.

Canada Protection Plan / Foresters Financial

Foresters Care grants now twice a year
Members can now apply twice a year for a Foresters Care grant of up to $200! That’s double the opportunity to show they care by making a difference in their local community.

Participating Account Q3 Summary
Why Powers of Attorney, Wills and Trusts are Important
Our top-performing funds for November
Taking a deep dive into the TFSA
The Empire Life GIF Growth Commission Bonus program has been extended for 2023!
Help your clients protect their loved one’s future while they invest in theirs
In 2022, defense was the best offense

Earn up to 20% more FYC (Ends March 31, 2023)
Until March 31, 2023, earn 15% or 20% more FYC1 on life and health products when you submit the application electronically using the Fast & Full® Life App and 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

2023 is here and we are here for you!
Equitable Life® would like to wish everyone a Happy New Year and we are looking forward to doing more business together in 2023! Just a reminder, we made some changes in 2022 to make doing business with Equitable Life easier.

Clients can win up to $5,000 in the RSP Grow Your Future Contest (Jan 1 – Mar 31)
RSP season is here and Equitable Life® is giving clients and their advisors a chance to win BIG with the Grow Your Future Contest. This contest is for advisors and clients working together to build wealth that lasts through the ups and downs.

Fidelity Investments

Weekly Market Pulse (January 6)

iA Financial

Canada: Another leading rate hike in sight for January 25?
This week: We recap 2022 and explain why the Bank of Canada could hike its leading rate once again on January 25.

Dividend scale interest rate increases to 6% for 2023
Good news! Following a comprehensive review of the dividend scale assumptions this year, we are pleased to inform you that our dividend scale interest rate will be increased from 5.75% to 6% for 2023. This increase will positively impact all contracts.

RRSP loans now available in EVO!
Just in time for the RRSP campaign, EVO Savings allows you to apply for an RRSP loan when issuing or contributing. From now on, this is your electronic gateway.

ivari

Fax number discontinuation – January 31, 2023
Effective January 31, 2023, we will no longer be accepting any documents from advisors, distributors or customers by fax and our fax number will be disabled. To that end, we have removed our fax number from our website and are working towards removing it from all ivari forms, applications, and communications.

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.