Dear members,
Happy New Year! Wish you and your family a healthy and prosperous 2020!
The weekly bulletin informs members recent initiatives, campaigns and more, so check it consistently to stay up-to-date with ways to grow your business.
Canada Life New Par – Illustration now available
Check out the new illustration (4.1) and download it from the page here: Concourse Direct (scroll down to page 2 for the link to the illustration program).
Ask wholesaler, Carol Ng, for more details at Carol.Ng@productsolutionscentre.ca or (604)377-7203.
Upcoming Featured Trainings
Estate Planning: who in the family is involved and their objections – spouse, children, parents? – Carmen Ke
Learn from the best and have MDRT Member, Carmen Ke, help you increase your closing rate and teach you tactics in dealing with different clienteles.
The PAC Concept, Benefits to Clients & Advisors – RBC Mike Jackson
This is the start of the RBC PAC Campaign Training Series – be sure to attend if you wish to qualify for the $2,000 Lump-Sum Bonus! Mike will explain how to use this strategy to enlarge your clientele and increase your repeated business and residual income.
RBC PAC Campaign – $2,000 Lump-Sum Bonus (January to March 2020)
Sign up 30 RBC PACs from January to March 2020 to receive an additional $2,000 bonus. Any PAC amount works! And it’s per account, be it RRSP, TFSA, non-reg, etc.
Those who sign up over 15 but less than 30 RBC PACs will also be rewarded with a lump-sum $750 bonus.
You can learn the details of this concept and how to efficiently apply it at the three upcoming RBC training sessions. To be eligible for the bonus, you must attend all three sessions:
Jan 17th – The PAC concept, benefits to clients and advisors (clientele, repeated business, residual income)
Jan 31st – How to do PACs efficiently using WealthLink and opportunities from RRSP loans
Feb 21st – Answering clients’ objections: Seg Funds vs Mutual Funds, Comparing to the Bank’s service, etc
Those who indicated their commitment to this strategy at the November 15th training will get the first dips, and their PAC business will be counted starting immediately.
Start your PAC business now!
News from the Insurance Council of British Columbia
Donations of Life Insurance Policies
The Insurance Council has issued an advisory notice regarding the donation of life insurance policies:
ICN 19-005 Donations of Life Insurance.
In BC, a registered charity may be named as the beneficiary of a life insurance policy, however donations of life insurance policies have greater complexity and require diligent handling due to anti-trafficking provisions within the Insurance Act. Life agents should be aware of the considerations surrounding these activities in order to comply with regulatory requirements. Notice ICN 19-005 Donations of Life Insurance Policies provides guidance on this topic.
View Notice ICN 19-005 Donations of Life Insurance Policies
Disciplinary Decisions
Blaise Leslie Szekely was subject to disciplinary action by the Mutual Fund Dealers Association of Canada that resulted in a permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any MFDA member, a fine in the amount of $150,000 and the assessment of $5,000 in costs. Pursuant to Council Rules, the licensee was required to notify Council of the discipline, but failed to do so.
Council determined that to allow an insurance agent to continue to hold an active licence while banned from practicing in another financial services sector undermines the public’s confidence in the insurance industry. Accordingly, the licensee’s life and accident and sickness insurance licence was cancelled.
See ICBC’s website for the full list of disciplinary decisions.
Holiday Notice
Please note that our office will be closed on:
Monday, February 17th, 2020 (Family Day)
Normal operations will resume on:
Tuesday, February 18th, 2020