Circulars

Dear Members,

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.

RBC PAC $2000 Campaign – Congratulations to the Winners!

After three months of specialized training and turning words into action, we are proud to announce the eight winners who have qualified for the different rewards of the RBC PAC Campaign: $100, $200, $750 and also $2,000!

Congratulations to Jennifer Chan, Margaret Cheung, Ella Law, Paula Law, Wilson Ng, Jackie Pui, Andy Tsai and Dominic Wong!

Accounting Department will be in touch with you on collecting your rewards.

This is only the beginning of a successful way to grow your residual income and clientele.  These winners will further receive special training as well as resources on promoting this PAC concept, such as tailor-made marketing materials and virtual client events.  Congratulations once again, and let’s reap more benefits from winning this campaign in addition to the initial reward.

Getting More New Business and Referrals by making use of COVID-19

Last week, we sent out a text template on iA Acci7 Plus hospitalization benefits to help you get new business in midst of the current situation.  This week, refer to the additional template below on making it easy for your clients to forward to their network to help you generate referrals.

Send the following to your clients in two consecutive messages:

1. “Hi XXX, because I care about your well-being, I am sending you information on insurance that still covers COVID-19.  Please forward it to your friends, as they are probably not aware of it.”
2. “Caring message from advisor, (your first name and last name)

In midst of the current COVID-19 situation, it is necessary to know your options of getting coverage in case of hospitalization due to the virus.  See the following hospital benefit and consider coverage at a low rate of $1-2/day for at least these few months.  Feel free to give xxx (your first and last name) a call or text at (your phone number) so you can find out more about your rights.  Please forward this message and information to people you care about so they can get protection in case of getting the virus.

”

A Chinese version will be available shortly.  This is not only a convenient way to secure your existing clients, it is also a timely opportunity to prospect and convert those without good service from their existing advisors.

Carriers Updates

Canada Life

Insurance

An update of non-face-to-face processing and underwriting is attached for your reference: CL Insurance COVID-19

Premiums deferral for up to 90 days is available on a case by case basis.

Join the webinar at 10am, this Wednesday, April 8^th, to find out more.

Equitable Life

Check out the identification process for non-face-to-face meetings as well as the presentation from last Friday’s training in the attachments to be updated on the latest guidelines: EQ Verification Steps and EQ EZcomplete NF2F

iA

Insurance

iA has also allowed for premiums deferral – see the attached guidelines: IA Premium Deferral

Updates on getting Critical Illness for Immigrant/Temporary Resident Market:

Work Permits (including nannies) – eligible for Life/CI/DI (seasonal workers)

• Max CI amount is $100,000 but a higher CI amount may be available for doctors ($1,000,000) and professional/skilled workers/entrepreneurs who entered Canada under an immigration Canada program ($500,000)

Cancer Guard – as long as the client has been living in Canada for last 12 months can apply for up to $150,000.

Underwriting – Vitals & Blood are waved

• Immigrants for less than 1 years = No more Paramedical/blood/vitals – Phone interview instead

Investment

See the attached presentation from last week’s training on non-face-to-face investment business update: IA EVO Savings Sales Teams

Contact Hilda Ng, Director of Sales, Investments, at hilda.ng@ia.ca or 236-688-6201 or internal wholesaler Barbra Vuan at barbra.vuan@ia.ca or (604)737-9245 for more details.

New B2B Wholesaler

New B2B Business Development Manager, Danya Wang, is now on board to help you answer any questions you may have on investment loans and leverage opportunities in view of the current market.  You can reach her at danya.wang@b2bbank.com or 236-688-6201.

Upcoming Virtual Trainings

Helping Way Members Continue Business Using Technology & Online Support from Canada Life

10am, Wednesday, April 8^th  

Learn CL’s non face to face application through Simple Protect and their relaxed underwriting guidelines.

Click on the link to login at that time.

Join Microsoft Teams Meeting

Real Life Case Studies: RRSP Meltdown – Help Your Clients Tax Efficient Plan their Retirement – COT Carmen Ke

11am, Wednesday, April 8^th  

Learn from the best and have COT Carmen Ke help you increase your closing rate and teach you tactics in dealing with different clienteles.

Click on the link to login at that time.

https://us04web.zoom.us/j/277397230

Business Management on Property Tax Deferment: How much do you know? – Stephen Lai

11am, Wednesday, April 15^th 

Come learn how efficient business operations can enhance your business volume and compensation.

Click on the link to login at that time.

https://us04web.zoom.us/j/832600072?pwd=SVZPM2pHOHJyVEVVaGdVTHJOM3hLZz09

Annual Filing 2020 Now Open

2020 annual filing for all Insurance Council of BC licensees is now available. Filing will be carried out through the Insurance Council’s Online Portal exclusively this year, in compliance with physical distancing measures directed by the Provincial Health Officer. The deadline to complete your annual filing is June 1, 2020.

The filing fee for this year is $225 (including government fee). After June 1, all filings received will be subject to a late fee ($200) for a total of $425.

Please be aware that any licenses not renewed via annual filing by July 31, 2020, will be terminated automatically for non-filing.

How to File

You can complete your filing online at insurancecouncilofbc.com/annualfiling.

Filing consists of:

1. Completing your filing declaration
2. Remitting the annual filing fee

See Filing Instructions.

To complete your annual filing, your filing declaration and fee must be received by the Insurance Council no later than June 1, 2020.

New Feature Available: License Certificates

After your annual filing is complete you can download and print your license certificate. In the main menu for the Online Portal, click on “View/Print My License Certificate.”

Send admin@wayfinancial.ca a copy of your renewed license to have it distributed to the relevant carriers to ensure your business processing and compensation payments carry on without interruption.  Do not send us the payment receipt as carriers do not accept this as a record of your renewed license.

If you require instructions to help you with the registration and online filing process, please contact ICBC at 604-688-0321.  For annual filing help, press 5 or email filingsupport@insurancecouncilofbc.com .

Dear Members,

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.

RBC PAC $2000 Campaign – Congratulations to the Winners!

After three months of specialized training and turning words into action, we are proud to announce the eight winners who have qualified for the different rewards of the RBC PAC Campaign: $100, $200, $750 and also $2,000!

Congratulations to Jennifer Chan, Margaret Cheung, Ella Law, Paula Law, Wilson Ng, Jackie Pui, Andy Tsai and Dominic Wong!

Accounting Department will be in touch with you on collecting your rewards.

This is only the beginning of a successful way to grow your residual income and clientele.  These winners will further receive special training as well as resources on promoting this PAC concept, such as tailor-made marketing materials and virtual client events.  Congratulations once again, and let’s reap more benefits from winning this campaign in addition to the initial reward.

Getting More New Business and Referrals by making use of COVID-19

Last week, we sent out a text template on iA Acci7 Plus hospitalization benefits to help you get new business in midst of the current situation.  This week, refer to the additional template below on making it easy for your clients to forward to their network to help you generate referrals.

Send the following to your clients in two consecutive messages:

1. “Hi XXX, because I care about your well-being, I am sending you information on insurance that still covers COVID-19.  Please forward it to your friends, as they are probably not aware of it.”
2. “Caring message from advisor, (your first name and last name)

In midst of the current COVID-19 situation, it is necessary to know your options of getting coverage in case of hospitalization due to the virus.  See the following hospital benefit and consider coverage at a low rate of $1-2/day for at least these few months.  Feel free to give xxx (your first and last name) a call or text at (your phone number) so you can find out more about your rights.  Please forward this message and information to people you care about so they can get protection in case of getting the virus.

”

A Chinese version will be available shortly.  This is not only a convenient way to secure your existing clients, it is also a timely opportunity to prospect and convert those without good service from their existing advisors.

Carriers Updates

Canada Life

Insurance

An update of non-face-to-face processing and underwriting is attached for your reference: CL Insurance COVID-19

Premiums deferral for up to 90 days is available on a case by case basis.

Join the webinar at 10am, this Wednesday, April 8^th, to find out more.

Equitable Life

Check out the identification process for non-face-to-face meetings as well as the presentation from last Friday’s training in the attachments to be updated on the latest guidelines: EQ Verification Steps and EQ EZcomplete NF2F

iA

Insurance

iA has also allowed for premiums deferral – see the attached guidelines: IA Premium Deferral

Updates on getting Critical Illness for Immigrant/Temporary Resident Market:

Work Permits (including nannies) – eligible for Life/CI/DI (seasonal workers)

• Max CI amount is $100,000 but a higher CI amount may be available for doctors ($1,000,000) and professional/skilled workers/entrepreneurs who entered Canada under an immigration Canada program ($500,000)

Cancer Guard – as long as the client has been living in Canada for last 12 months can apply for up to $150,000.

Underwriting – Vitals & Blood are waved

• Immigrants for less than 1 years = No more Paramedical/blood/vitals – Phone interview instead

Investment

See the attached presentation from last week’s training on non-face-to-face investment business update: IA EVO Savings Sales Teams

Contact Hilda Ng, Director of Sales, Investments, at hilda.ng@ia.ca or 236-688-6201 or internal wholesaler Barbra Vuan at barbra.vuan@ia.ca or (604)737-9245 for more details.

New B2B Wholesaler

New B2B Business Development Manager, Danya Wang, is now on board to help you answer any questions you may have on investment loans and leverage opportunities in view of the current market.  You can reach her at danya.wang@b2bbank.com or 236-688-6201.

Upcoming Virtual Trainings

Helping Way Members Continue Business Using Technology & Online Support from Canada Life

10am, Wednesday, April 8^th  

Learn CL’s non face to face application through Simple Protect and their relaxed underwriting guidelines.

Click on the link to login at that time.

Join Microsoft Teams Meeting

Real Life Case Studies: RRSP Meltdown – Help Your Clients Tax Efficient Plan their Retirement – COT Carmen Ke

11am, Wednesday, April 8^th  

Learn from the best and have COT Carmen Ke help you increase your closing rate and teach you tactics in dealing with different clienteles.

Click on the link to login at that time.

https://us04web.zoom.us/j/277397230

Business Management on Property Tax Deferment: How much do you know? – Stephen Lai

11am, Wednesday, April 15^th 

Come learn how efficient business operations can enhance your business volume and compensation.

Click on the link to login at that time.

https://us04web.zoom.us/j/832600072?pwd=SVZPM2pHOHJyVEVVaGdVTHJOM3hLZz09

Annual Filing 2020 Now Open

2020 annual filing for all Insurance Council of BC licensees is now available. Filing will be carried out through the Insurance Council’s Online Portal exclusively this year, in compliance with physical distancing measures directed by the Provincial Health Officer. The deadline to complete your annual filing is June 1, 2020.

The filing fee for this year is $225 (including government fee). After June 1, all filings received will be subject to a late fee ($200) for a total of $425.

Please be aware that any licenses not renewed via annual filing by July 31, 2020, will be terminated automatically for non-filing.

How to File

You can complete your filing online at insurancecouncilofbc.com/annualfiling.

Filing consists of:

1. Completing your filing declaration
2. Remitting the annual filing fee

See Filing Instructions.

To complete your annual filing, your filing declaration and fee must be received by the Insurance Council no later than June 1, 2020.

New Feature Available: License Certificates

After your annual filing is complete you can download and print your license certificate. In the main menu for the Online Portal, click on “View/Print My License Certificate.”

Send admin@wayfinancial.ca a copy of your renewed license to have it distributed to the relevant carriers to ensure your business processing and compensation payments carry on without interruption.  Do not send us the payment receipt as carriers do not accept this as a record of your renewed license.

If you require instructions to help you with the registration and online filing process, please contact ICBC at 604-688-0321.  For annual filing help, press 5 or email filingsupport@insurancecouncilofbc.com .

Dear Members,

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.

Carriers’ Non-Face-to-Face Updates

Canada Life

The current guidelines for non-face-to-face is found on RepNet: Non-Face-to-Face Guideline

New allowance for using electronic signatures for specific investment transactions are also made.  See the attached document for more details: CL COVID-19 E-signature – Wealth.

Last week’s presentation on its Early Value Par – Wealth Plus is attached for your reference.

Equitable Life

There are new guidelines for non-face-to-face business transactions as per the attached document: EQ NFTF EZComplete.

Find out more at the webinar this Friday, April 3^rd, at 11am.

iA

Policy delivery receipt not required for standard cases – Insurance coverage takes effect on the issue date and premium payment to be drawn a few days later.  Exceptions apply.  More details in the attached document: iA Insurance Contract Delivery

Non-face-to-face investment business is allowed for registered accounts.  More details in the attached document including how to check identity over videoconferencing: iA Savings Tailored processes for Non-Face-to-Face Business Deals

Join the webinar this Wednesday, April 1^st, at 11am to find out more.

Answers to questions on the impact of COVID-19 to the insurance products are found in the attached: iA COVID-19 Critical & Disability Illness

The presentation from last week’s training is also attached which details underwriting updates, Cancer Guard, disability and hospitalization benefits of Acci7 Plus and using EVO efficiently, especially for non-face-to-face and e-signatures.

Non-Face-to-Face Allowance for Compliance Package

In support of members’ non-face-to-face business operations amidst social distancing requirements, Way has made it easier for you to meet compliance requirements as follows:

Compliance package for businesses where the carriers allow for non-face-to-face transactions can also be submitted with a client’s electronic signature if a wet signature cannot be applied.  In the rare case that a client cannot apply either an e-signature or a wet one, the client can confirm the documents using the same e-mail account s/he has indicated in the compliance package.

For the sake of clarity, an e-signature is one using computer programs such as docu-sign.  A wet signature is where the client physically signs the document.  In both cases, a scanned copy is sufficient to meet compliance requirements.

The above arrangements is effective immediately and until further notice.  We see some members continue their business production because they have quickly adapted to non-face-to-face means. In fact, clients are also looking for the same support during their prolonged stay at home – a simple greeting or follow-up will surely make your service shine amongst others.

Let’s be versatile and take this opportunity to gain client loyalty and beat your competitors.

RBC PAC $2000 Campaign – two more days!

We already have qualifiers meeting the first tier reward of $750, congratulations!  Remember the campaign is to help you kick-start this business model – don’t stop now as you are on track to building your clientele and residual income.

Additional 20% FYC Bonus Campaign for IA Business

Make use of iA’s non-face-to-face opportunities to earn an additional 20% FYC bonus from your businesses – some members are doing it already and on track to getting this extra bonus.

Upcoming Virtual Trainings

Market & Investment Opportunities Using IA’s e-Apps and Non-Face-to-Face Support – IA Hilda Ng

11am, Wednesday, April 1^st  

Join this session to discover opportunities using e-Apps and non-face-to-face support.

Click on the link to login at that time.

https://zoom.us/j/230004367?pwd=ZUVtVnptU204WWRDakNGNSttdFRUQT09

Non Face-To-Face E-app & E-Signatures — EQ Monica Zhang

11am, Friday, April 3^rd  

Do not miss this opportunity to update yourselves on non-face-to-face E-apps and E-signatures.

Click on the link to login at that time.

Join Microsoft Teams Meeting

Real Life Case Studies: RRSP Meltdown – Help Your Clients Tax Efficient Plan their Retirement – COT Carmen Ke

11am, Wednesday, April 8^th  

Learn from the best and have COT Carmen Ke help you increase your closing rate and teach you tactics in dealing with different clienteles.

Click on the link to login at that time.

https://us04web.zoom.us/j/277397230

Events Schedule – April (Updated)

The updated Events Schedule for April is attached for your reference.

Holiday Notice

Please note that our office will be closed on:

Friday, April 10^th , 2020   (Good Friday)

Monday, May 18^th , 2020   (Victoria Day)

Normal operations will resume on:

Monday, April 13^th , 2020   

Tuesday, May 19^th , 2020

Dear Members,

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.

COVID-19 Update

As per the notice last week, the office continues to monitor the situation of COVID-19 as well as advice of the Government and health officials.  Social distancing is being practiced and members are reminded of the following:

• All in-person meetings/discussions are discontinued.  Training sessions will be convened via webinars or video conference.  Staff will be working from home where possible, supporting members via the telephone, instant messengers and e-mails.  Adjustments to the in-person service hours will be made and announced following Government’s advice.
• Documents can be scanned and sent to:
  • process@wayfinancial.ca (for business related matters)
  • account@wayfinancial.ca (for compensation related matters)
  • admin@wayfinancial.ca (for licensing, E&O and other matters)
• Visitors to the office are asked to sanitize their hands and put on a face mask.  Advisors with clients visiting are asked to inform their clients of the same in advance.

Doing Business Amidst COVID-19: Non-Face-to-Face, Underwriting Updates, etc

Review the updates by carriers below and attached to stay informed of business processing during the pandemic and how to make use of opportunities available:

Paramedical Companies

While Dynacare has suspended its services, ExamOne is currently still providing paramedical visits.  Pay attention to carriers’ updates on non-medical limits to insurance coverage.

Canada Life

Insurance business can be done non-face-to-face (web application and simple protect) and delivery of the policy does not need to be in person, and can be done via courier/mail.  You only need to scan the signed delivery receipt back to Processing.  Below is CL’s non-medical limits by product line:

Life Insurance => Up to $1M of death benefit for anyone ages 18 to 45

Critical illness => Up to $100,000 of coverage for ages 18 to 50

Equitable Life

Insurance business can be done non-face-to-face using EZComplete.  See here for more information: https://advisor.equitable.ca/advisor/en/news/can%E2%80%99t-meet-in-person-ezcomplete-is-an-ez-way-to-me?mc_cid=e908b98ed3&mc_eid=455db21731

E-delivery options may be available over the next couple of weeks.

iA

iA just announced some changes to their underwriting, including raising the limit for non-face-to-face Critical Illness business to $2.5 million.  Register for the webinar at 10am, this Wednesday (March 25^th) on the guidelines and e-applications.  https://cc.callinfo.com/registration/#/?meeting=1wbcyzcv7tbim&campaign=1st818cseiyaw

For investment business, it is important to maintain contact with your clients.  Warren Buffet has once said, “Be fearful when others are greedy. Be greedy when others are fearful.”

Feel free to utilize the attached template and marketing piece in connecting with and reassuring your clients during this time:

• Client Letter Template – Keeping the Right Perspective
• The Cycle of Investor Emotions

A guide on videoconferencing tips is also attached.

Manulife

Review the attached E-Business Handbook on how to do e-apps and e-delivery for Manulife insurance business.

RBC

RBC has updated its e-signature guidelines and now allows non face-to-face business for registered accounts.  Please see the attached.  This should help facilitate your investment business and get you to your target for the RBC PAC $2,000 Campaign.

Upcoming Virtual Trainings

Non Face-to-Face Guidelines & Signature Process — IA Rishu Bains

10am, Wednesday, March 25^th

Join Rishu Bains for up-to-date Critical Illness changes for non face-to-face application, new limits, new underwriting and delivery requirements to make an impact with your clients in the times they need coverage most.

Click on the link below to register:
https://cc.callinfo.com/registration/#/?meeting=1wbcyzcv7tbim&campaign=1st818cseiyaw

Role Play 2nd Solution and Closing – 3 RRSP mistakes and 9 solutions (#8 Interest Deduction) – Simon Mok

11am, Wednesday, March 25^th

Click on the link below to see top sales, Simon Mok, has to share with you this month on creating needs for clients and closing the sale:

https://hangouts.google.com/call/yh7ki2RZluSvmPRFylKjAEEE

Recent Market Changes: What You Need to Know — CL Tajammul Pannun & Chris Lane

11am, Friday, March 27^th

Taj’s presentation will feature GLC Chris, on the recent market update & fund resources overview

Click on the link below to join:

https://teams.microsoft.com/_#/pre-join-calling/19:meeting_M2FlZTIwMTgtZTM0NC00NjQxLTgxMjctNjY5NjRjYzNjMDRm@thread.v2

News from the Insurance Council of British Columbia

Preparing for Annual Filing 2020

This year’s process for Annual Filing will be conducted online, and ICBC will be providing instructions and information to licensees in the weeks to come. Licensees are encouraged to update their contact information via the online portal so that they can receive annual filing communication from Council.

Dear Members,

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.

RBC PAC $2000 Campaign – last two weeks!

We already have qualifiers meeting the first tier reward of $750, Congratulations!  You still have two more weeks to get your $2,000!  Join the virtual training by Stephen Lai and RBC Mike Jackson at 11am, this Wednesday, March 18^th to polish your presentation skills to your clients to not only close cases but to generate referrals!

Additional 20% FYC Bonus Campaign for IA Business

In midst of the virus fears, a lot of clients has been initiating the request for life and health insurance coverage.  Grasp this opportunity to earn an additional 20% FYC bonus with IA living benefits products.  Join the webinar to learn more.

Webinar Details Date: Wednesday, March 18, 2020 Time: 10:00 AM PST Click here to Register

Do you require product assistance? Contact us at iav-marketing@ia.ca

Canada Life Simple Protect Now Offers Par

Contact internal wholesaler, Hinris Chan at Hinris.Chan@canadalife.com or (604)443-8247, if you have any question on using Simple Protect or utilizing its non-face-to-face options.

Upcoming Virtual Trainings

Business Management on The Power of Compounding — Stephen Lai & RBC Mike Jackson

11am, Wednesday, March 18^th

Come learn how efficient business operations can enhance your business volume and compensation, and tips on winning the RBC $2,000 Campaign.

Click on the link to login at that time.  Contact Matthew To at matthew.to@rbc.com or (604)699-2350 if you have any technical difficulties

https://rbcteams.webex.com/rbcteams/j.php?MTID=mf63bc6fd89955a0a37918481db763967

How to Conduct Your Sales Meeting with Manulife’s Non Face-to-Face Guidelines – ML Chris Chang

11am, Friday, March 20^th

Learn about the e-APP and e-delivery for Manulife insurance business.  Contact Chris Chang at chris_chang@manulife.com or (604)355-4879 if you have any questions.

Join Skype Meeting     

Conference ID: 434974211

Update Your Notification Preferences on IA Advisor Centre

IA will be launching its Business Tracker to inform advisors of news/actions required related to their clients on March 18^th.  If you haven’t already done so, logon to Advisor Centre now to update your notification preferences so you won’t miss important messages on your business.  Sign in at ia.ca and click on the Business Tracker tab in the top to set your preferences.  You can add process@wayfinancial.ca as your secondary contact so the office will also be informed of your notifications to help you stay on track.

Events Schedule – April

The Events Schedule for April is attached for your reference.

As per the Notice on COVID-19 Response, all trainings will take place via webinar or video conference arrangements and all 1-on-1s will be done over the phone.

Dear Members,

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.

Conduct of Insurance Business and Fair Treatment of Customers

Further to the Annual Compliance Update, the Fair Treatment of Customers guideline is attached for your reference.  You can also find the file on Virtgate as well as the Intranet. Please reach out to Director, Training & Compliance, Stephen Lai at stephen.lai@wayfinancial.ca or 604-279-0866 ext 114, if you have any questions.

Upcoming Featured Trainings

Case Studies: 15 Corporate Strategies Lawyers & Accountants Want to Know – #7 Property Tax Repayment Using Corporate Earnings — COT Carmen Ke

11am, Wednesday, March 11^th

Learn from the best and have COT Carmen Ke help you increase your closing rate and teach you tactics in dealing with different clienteles.

Lunch & Learn : How to Quickly Close Cases with CL’s Wealth Achiever Plus – CL Carol Ng & Jeff Nason

11am, Friday, March 13^th

Find out why Canada Life’s Wealth Achiever Plus stands out from the crowd and which clients are most suitable.

Individual lunchboxes will be prepared for this session.  Please RSVP on Google calendar by noon, Thursday, March 12^th, so Administration can prepare one for you.

Business Management on The Power of Compounding — Stephen Lai & RBC Mike Jackson

11am, Wednesday, March 18^th

Come learn how efficient business operations can enhance your business volume and compensation, and tips on winning the RBC $2,000 Campaign.

Industry Updates on COVID-19 (aka coronavirus)

Some travel insurance companies, including Allianz and TuGo, have recently announced their arrangements on coverage of the coronavirus.  For those countries and areas that have a travel advisory by Global Affairs Canada or Public Health Agency of Canada, their policies may not provide coverage.  Please refer to the attachment by Allianz.  TuGo’s information is also found their advisor website: https://partner.tugo.com/news/viewNewsArticle/ANT:1583272145286:760 (a print-screen is attached for your convenience)

For impact on the market, join IA Chief Economist, Clément Gignac in his upcoming webinar:

Coronavirus, Oil and Market Turmoil: Should We Fear a Recession?

10am ET (i.e. 7am PT), Wednesday, March 11^th

Register here

And review the recast next week here: ia.ca/economic-publications/posts

Dear Members,

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.

Annual Compliance Update & Disclosure 2020

Further to the annual compliance update last Wednesday, if you have not already returned your Annual Disclosure to the Front Desk, please do so by Wednesday, March 4^th.  Attached is a copy for your reference.

Also announced was the updated version of the “Know Your Client” forms, which are hereby attached for your use.

The New Business Checklist that advisors can refer to when submitting new business will be available shortly.  All of these forms will be available on Virtgate as well as Way’s intranet.

Client Events

15 Company Solutions Lawyers & CPAs Need to Know

Time & Date: 1:45pm, Thursday, March 26^th

Language: Cantonese

Follow the Social Media & Event Development group in WeChat for registration and updated news.

Upcoming Featured Trainings

Way Insiders’ News: Creating Easy Business Opportunities with an Exclusive Product Line – Sunny Chan

11am, Wednesday, March 4^th

Join Sunny Chan, President of Prominence Financial, to see how to create more conversations with your clients.

Case Studies: Use Property Tax Deferment to Start the Conversation with Your Potential Clients – COT Carmen Ke

11am, Wednesday, March 11^th

Learn from the best and have COT Carmen Ke help you increase your closing rate and teach you tactics in dealing with different clienteles.

Additional 20% FYC Bonus Campaign for IA Business

Selected members have been invited to participate in the Additional 20% FYC Bonus Campaign for IA Business.  They will take part in a series of training on the Corporate Shared Ownership for CII strategy, as well as 1-on-1 sessions and the Special Tour to the IA Office in April.

For those who are keen to grow their business and commissions with this group of driven members, reach out to Stephen Lai at stephen.lai@wayfinancial.ca or 604-279-0866 ext 114 for eligibility and to indicate your commitment.

RBC PAC Campaign – $2,000 Lump-Sum Bonus (January to March 2020)

There is only one more month to go for you to get the $2,000 lump-sum bonus.  More than ten members are on course to getting over $20,000 extra money – don’t miss your chances!

Connection Campaign 2020 – Earn Extra 5% FYC Bonus on Your Business with Every New Connection

In addition to generating residual income from Profit Sharing on your connections, you will be rewarded with an extra 5% FYC bonus on your insurance business submitted 30 days before or after you connect a new member.  So do more business and connect more members to get more reward amounts this year!

20 Secrets that the Taxman Doesn’t Want You to Know – Orders Now Accepted

You can place your order via Coordinator@yourqna.com.  Simply indicate the following in your e-mail:

Name:

Phone number:

Mailing address (for receipt purpose): 

Number of copies:

Remarks: I, a Way members, am making payment for my order via Way to have shipping and handling fees waived.  Please deliver my order to the Way office.

Cheque payments are made to QNA Technology Inc and can be dropped off at the Front Desk.

The book is priced at $24.99 on Amazon and local bookstores, and sold for the same price at the Client Events.

For Way Members only, if you order 2 copies, you can bring your receipt to Accounting Department to claim a $20 sponsorship.  That means you can get 2 copies for only $29.99 – one for yourself, one for your client.

If you want to order more, you can still get the $20 sponsorship for every 2 copies.

• Eg. If you order 4, you will get $40 sponsorship, so the total for 4 books is $59.99.
• Eg. If you order 10, you will get $100 sponsorship, so the total for 10 books is $149.95.

This is to encourage you to do more business and build a closer relation with your clients as the book will help you close cases after your clients read it.  As you already know, the English version is a National Best Seller.

Weekly Bulletin 200

Dear Members,

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.

RBC PAC Campaign – $2,000 Lump-Sum Bonus (January to March 2020)

Further to the RBC PAC training last Friday, eight members have already gotten first dips rewards and are on track to the ultimate $2,000 lump-sum bonus.

In addition, $600 in donations for the Vancouver General Hospital was raised by Way on eligible members’ behalf for completing a marketing exercise that at the same time helped members generate new client appointments.

There is still just over one-month to go for you to get this bonus and be on path to generate much more in residual income.

Upcoming Featured Trainings

Mandatory Annual Compliance Update – Stephen Lai (attendance required)

11am, Wednesday, February 26^th

In addition to learning about new industry trends and updates to the KYC requirements, details on the 2020 Connection Campaign as well as recognition for existing connections will be announced.  Come learn how to earn more income sustainably!

Lunch & Learn: How to use the New IA Critical Illness Insurance to gain 20% more in commissions: 10-pay, pricing and more – Rishu Bains

11am, Friday, February 28^th

Way Insiders’ News: Creating Easy Business Opportunities with an Exclusive Product Line – Sunny Chan

11am, Wednesday, Mar 4^th

Join Sunny Chan, President of Prominence Financial, to see what strategies can be used to create conversations with professional clients.

RBC Webinar on Capital Markets

1pm, Tuesday, February 25^th

Hear what Portfolio Specialist, Christian Chiera, has to say on the markets, including the impact of the COVID-19.  Register and ask your questions directly here:

https://rbcteams.webex.com/rbcteams/onstage/g.php?MTID=ee03f52260103cd7295d2fa8998cdd6e7

Technical support: Keni Ng. His contact info: 604-699-2341 and rbciwwreq@rbc.com

Questions for portfolio specialist: You can either email Keni your questions or send them through the registration link above

20 Secrets that the Taxman Doesn’t Want You to Know – Orders Now Accepted

Further to members’ enquiries, you can place your order of the subject book via Coordinator@yourqna.com.  Simply indicate the following in your e-mail:

Name:

Phone number:

Mailing address (for receipt purpose): 

Number of copies:

Full payment can be made to QNA Technology Inc and can be dropped off at the Front Desk for on passing to the company.

The book is priced at $24.99 on Amazon and local bookstores, and sold for the same price at the Client Events.

For Way Members only, if you order 2 copies, you can bring your receipt to Accounting Department to claim a $20 sponsorship.  That means you can get 2 copies for only $29.99 – one for yourself, one for your client.

If you want to order more, you can still get the $20 sponsorship for every 2 copies.

• Eg. If you order 4, you will get $40 sponsorship, so the total for 4 books is $59.99.
• Eg. If you order 10, you will get $100 sponsorship, so the total for 10 books is $149.95.

This is to encourage you to do more business and build a closer relation with your clients as the book will help you close cases after your clients read it.  As you already know, the English version is a National Best Seller.

Canada Life New Illustration (4.2) effective February 24^th, 2020

Check out the new illustration (4.2) and download it from the page here: Concourse Direct (see page 1 for the link to the illustration program).

Ask wholesaler, Carol Ng, for more details at Carol.Ng@CanadaLife.com or (604)377-7203.

RRSP Deadline Reminder – March 2^nd, 2020

Please be reminded that all RRSP business must be signed and dated by March 2^nd, 2020, and received by the office by 9:30am on March 3^rd, 2020, to count towards the contribution for 2019.  Feel free to ask your specific coordinator or e-mail process@wayfinancial.ca if you have any question.

News from the Insurance Council of British Columbia

Preparing for Annual Filing 2020

The annual filing fee will be announced in March, and filing will officially open on April 1^st, 2020. Licensees are encouraged to update their contact information via the online portal so that they can receive annual filing communication from Council.

Disciplinary Decisions

Loretta Lai was subject to a condition on her life insurance licence following a October 26, 2016, order by the Insurance Council requiring her to only conduct insurance activities under direct supervision of a qualified life agent until certain proceedings by the BC Securities Commission (BCSC) were complete and had been subsequently considered by the Insurance Council. BCSC concluded its investigation with no findings against the licensee. However, the licensee’s spouse, a former Insurance Council licensee, was implicated and subsequently found liable by the BCSC. The spouse’s misconduct involved an insurance agency of which the licensee was both nominee and director at the material times.

After considering the matter, the Insurance Council ordered that the supervision condition imposed on the licensee’s life licence be removed and imposed new conditions prohibiting the licensee from acting as a supervisor for a period of two years and permanently prohibiting her from being or acting as a nominee of any agency, and/or an officer, director, or shareholder of any corporation licensed with the Insurance Council of BC.

See Council’s website for the full list of disciplinary decisions.

Events Schedule – March (updated)

The updated Events Schedule for March is attached for your reference.

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 Presentation on the New Par

Further to members’ request on last Friday’s training presentation, attached is the file for your reference.  Wholesaler Carol Ng can be reached at Carol.Ng@productsolutionscentre.ca or (604) 377-7203 if you have any question, or book her next 1-on-1 on March 13^th (1 to 3pm) on Google Calendar.

Connection Campaign 2020 – Earn Extra 5% FYC Bonus on Your Business with Every New Connection

In addition to generating residual income from Profit Sharing on your connections, you will be rewarded with an extra 5% FYC bonus on your insurance business submitted 30 days before or after you connect a new member.  So do more business and connect more members to get more reward amounts this year!

Additional 20% FYC Bonus Campaign for IA Business

Members committed to winning this campaign will be invited to a special tour and lunch gathering at IA’s new office in Vancouver.

Also stay tuned for IA’s revamped Critical Illness Insurance, to be announced at the Lunch & Learn on February 28^th to see how to make use of new features like 10-pay, new pricing to increase your business volume. Wholesaler, Rishu Bains, will also be available for 1-on-1 sessions from 1 to 3pm following the morning group training that day.

Upcoming Featured Trainings

Role Play: 1st Mistakes and Fact Find – 3 RRSP mistakes and 9 solutions (#8 Interest Deduction) – Simon Mok

11am, Wednesday, February 19^th

Answering clients’ objections: Seg Funds vs Mutual Funds, Comparing to the Bank’s service, etc – RBC Mike Jackson

11am, Friday, February 21^st

Get first dips in this campaign by submitting your business by the final training session on February 21^st:

1. Submit 5 PACs & get $100 advanced bonus!
2. Submit 10 PACS & get $200 advanced bonus!

Mandatory Annual Compliance Update – Stephen Lai (attendance required)

11am, Wednesday, February 26^th

In addition to learning about new industry trends and updates to the KYC requirements, details on the 2020 Connection Campaign as well as recognition for existing connections will be announced.  Come learn how to earn more income sustainably!

Information Session on Combined Insurance – for You and Your Connections

Use the Combine product shelf to attract not only clients but also potential connections.  Ask Alan Lee at alan.lee@pfiins.com for more details and register.

Events Schedule – March

The Events Schedule for March is attached for your reference.

Dear Members,

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.

Connection Campaign 2020 – Earn Extra 5% FYC Bonus on Your Business with Every New Connection

In addition to generating residual income from Profit Sharing on your connections, you will be rewarded with an extra 5% FYC bonus on your insurance business submitted 30 days before or after you connect a new member.  So do more business and connect more members to get more reward amounts this year!

RBC PAC Campaign – $2,000 Lump-Sum Bonus (January to March 2020)

Get first dips in this campaign by submitting your business by the final training session on February 21^st:

1. Submit 5 PACs & get $100 advanced bonus!
2. Submit 10 PACS & get $200 advanced bonus!

Additional 20% FYC Bonus Campaign for IA Business

Also stay tuned for IA’s revamped Critical Illness Insurance, to be announced at the Lunch & Learn on February 28^th to see how to make use of new features like 10-pay, new pricing to increase your business volume. Wholesaler, Rishu Bains, will also be available for 1-on-1 sessions from 1 to 3pm following the morning group training that day.

RRSP Deadline Reminder – March 2^nd, 2020

Please be reminded that all RRSP business must be signed and dated by March 2^nd, 2020, and received by the office by 9:30am on March 3^rd, 2020, to count towards the contribution for 2019.  Feel free to ask your specific coordinator or e-mail process@wayfinancial.ca if you have any question.

Upcoming Featured Trainings

Case Studies: Closing Your Wealth Transfer Cases Using Cascading Insurance – MDRT Carmen Ke

11am, Wednesday, February 12^th

Role Play: 1st Mistakes and Fact Find – 3 RRSP mistakes and 9 solutions (#8 Interest Deduction) – Simon Mok

11am, Wednesday, February 19^th