Product Questions

What types of products do you sell and what type of products are you not allowed to sell?

Guaranteed Investment Certificates, bonds, stocks, mutual funds, structured notes, options contracts, segregated funds and guaranteed investment funds, annuities, commercial paper and other types of products are available to investors in the Canadian marketplace.† Advisors are limited to the types of products they are able to sell based on how there are registered with the associated provincial securities regulator, and in some cases based on the company or firm sponsoring their registration or license.† Investors need to fully understand what products they will have access to, and which products they will not have access to.† Investors seeking, for example, guaranteed investment funds or segregated funds which have a variety of estate planning and probate reduction planning features will not have access to these products unless the advisor has the appropriate licensing in place to be able to offer these products.†

Do you offer segregated funds? If so, from which companies?

Ask your advisor whether he or she is licensed to sell segregated funds. If so, ask which companies are represented, what the loads are, what the reset policy is, and on what factors they base their recommendation.† Investors should also inquire about the type of maturity and death benefit guarantee which is provided by the insurer.† Investors should also ask to obtain a copy of the Information Folder prior to investing in segregated funds.

Do you have access to all forms of annuities? If so, from which companies?

As with segregated funds, it is important for the advisor to provide options amongst which comparisons can be made. †If an investor wishes to obtain annuity quotes, one should fully understand the different quotes available in the annuity market.† Annuity quotes can vary significantly from insurance company to insurance company.

Are you licensed to sell life insurance?

Although you may not need life insurance, it is wise to receive an evaluation to ensure you have sufficient coverage. Also, you may at some point want to discuss other forms of insurance, including critical illness and disability.†† As mentioned with some of the other questions, an insurance license is required for an advisor to be able to offer and sell insurance based investments including annuities, segregated funds, guaranteed investment funds and guaranteed minimum withdrawal benefit plans.

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