BridgeForce News (January 23, 2023)
BridgeForce Updates
Industry Headlines
Deadline looms for prescribed rate loans
Advisors should remind clients using prescribed rate loan strategies that interest on the loan must be paid on or before Jan. 30.
Total cost reporting guidance for seg funds coming this spring
By mid-2023, clients will be one step closer to knowing how much their segregated funds actually cost. The Canadian Council of Insurance Regulators, which consulted on total cost reporting for seg funds last year, intends to release final TCR guidance “this coming spring,” said Erica Hiemstra, head of insurance conduct with Ontario’s Financial Services Regulatory Authority (FSRA), at an event held by the regulator in Toronto on Thursday.
Compliance
BridgeForce Compliance News (December 21, 2022)
Highlights for 2022 and a few reminders
- FSRA license renewals: “Longer than normal wait times”
- Apexa Annual attestation: Compliance documents
- Title Protection for Planner and Advisor
- Retiring? Leaving the Business? Remember the regulator
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
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 5320 – $909
Recommended Computer Specs
- Intel Core i5 (11th Gen or higher)
- 8 – 16 GB RAM
- 256 GB SSD or higher
Supplier Company News
BMO Insurance
We lock-in gains, so you don’t have to
Talk to your clients about resets this RRSP season. We’ll automatically lock-in your client’s market gains with monthly maturity guarantee resets1 – so that you don’t have to.
Canada Life
- Access client savings with a critical illness premium reduction
- Get the latest and greatest on the Canada Life combined open participating account
- Insurance Operations updates
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
Qualify and earn more!
To qualify for the Loyalty Bonus Program (LBP), you must earn the minimum Net First Year Commission (NFYC) within the calendar year of 2023. 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.
Amazing rates for smokers
It’s National Non-Smoking Week! Offer your clients a powerful incentive to quit smoking and grow your business. Our Quit Smoking Incentive Plan helps them save money and live a healthier lifestyle. And National Non-Smoking Week is the perfect time to tell them about it.
Desjardins Insurance
Guarantee Advantage | April 2023 campaign
The Edge Benefits
Sales Campaign: January Fast Start (Jan 1 – Jan 31)
Empire Life
A message from Paul Holba, CIO
To say 2022 was a challenging year is putting it lightly. High inflation in developed countries, rising interest rates and ongoing geopolitical challenges drove up commodity prices. Bond yields skyrocketed as most asset classes took a hit. And Canadian bonds, usually a good hedge against stocks, had their worst year since 1980. But through it all, Empire Life’s investment strategy played a significant role in the success of many of our segregated fund mandates.
- Key market events of 2022 and 2023 Outlook
- The Empire Life GIF Growth Commission Bonus program has been extended for 2023
- Policyholder tax reporting for 2022 and RRSP season 2023
- Emblem Asset Allocation Update – December 20, 2022
- Leveraging our 2022 success for 2023
- The Empire Life RRSP & TFSA toolbox
- Empire Life December 31, 2022 Investment Statements
- Advisor opportunities in this digitally, pandemically & economically changed world
- Earn more in 2023: Fast & Full eBundle Bonus is available until March 31, 2023!
- MDRT Certifying Letter
- Guidelines for Immigrants
Staying in the market can lead to better investment success
Do some of these statements sound familiar? These are some common concerns investors have expressed over the past few months. We’ll explore these concerns in a 5-part email series covering key areas such as market timing, diversification, managing risk, managing market emotions and the benefits of regular investing.
2023 RRSP and TFSA Toolbox to support you and your clients this season
This handy online resource makes it simple, fast and easy to get advisor educational information and client marketing material to assist you in your RRSP and TFSA conversations. The Empire Life advisor RRSP and TFSA toolbox is divided into advisor and client sections, making it easy for you to scan for RRSP and TFSA material that will inform your business practice and aid you in discussions with clients.
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
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 20)
iA Financial
The winning strategy for 2023!
Did you know that a large proportion of total savings contract withdrawals are made by clients aged between 50 and 70? This segment of your clientele is highly solicited by the competition because of their high level of assets. What can you do about it?
ivari
Important information for 2022 tax reporting
ivari and DXC email transition
In 2020, we announced that ivari had entered into a long-term agreement with DXC Insurance Services Canada to manage our back-office operations and systems and customer service support. We are continuing to build upon our relationship and endeavour to strengthen our offerings and deliver on our commitment to provide valuable insurance solutions to middle market Canadians.
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.