Weekly Bulletin 200525

Weekly Bulletin 200525

by Admin Way Financial

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.

Virtual Client Events                    

2 to 6 Ways of Property Tax Coding

Time & Date: 10:55 am, Saturday, June 6th

Language: Mandarin

Time & Date: 1:55 pm, Saturday, June 6th

Language: Cantonese

Speaker: Global Life & Wealth

Global Life & Wealth hosts a series of webinars for clients including Crisis Rebound Investment Secret Manual, RRSP Mistakes & Solutions amongst others. Contact Theresa Lai at 604-278-0122 (ext. 105) or theresa.lai@grandtag.ca for more details on how to participate and share the resource with your clients.

Manulife Market Update for Way Advisors’ Clients

Time & Date: 11 am, Thursday, June 11th

Language: English

Speaker: Stefan Goddard, District Vice-President, Manulife Investment

As you already know, these events are organized exclusively for Way Advisors’ clients.  This is a good chance for your clients and prospects to appreciate your professional support in managing their finances while staying connected with them during these unprecedented times.  Do also to ask them to extend the invitation to their family and friends to bring you referrals.

The webinar zoom link and password will be available shortly. Start gauging your network’s interest to utilize this initiative to generate immediate business:

  • New investment plans
  • Transfer existing investments to your management
  • Referral business

IA Spring Fling Contest

Let’s win some extra $$$ from iA’s Spring Contest, which is exclusive to Way Members!  Only 6 more weeks to go!

Carrier Updates

Canada Life

Insurance

Check out the new illustration (4.3) effective May 25th, 2020 and download it from the page here: Concourse Direct (see page 1 for the link to the illustration program).

Contact wholesaler, Carol Ng at Carol.Ng@CanadaLife.com or (604)377-7203, or internal wholesaler, Hinris Chan at Hinris.Chan@canadalife.com or (604)443-8247 for more details.

Investment

Further to members’ request on last Wednesday’s training presentation, attached are the files for your reference.  Wholesaler Richard Chen can be reached at richard.chen@canadalife.com or ((604)338-6416 if you have any questions.

IA

IA will be launching its own PAR on June 8th and advisors on Way’s platform will be getting an advance preview on its details next week, on June 3rd.  Your schedules have been marked so join us to see what new business opportunity this latest product can offer.  Also please be reminded that the new product will certainly help you achieve the additional 20% FYB bonus easier!

Upcoming Virtual Trainings

Role Play 1st Coding and Fact Find – 11 Coding of Property Tax (#1 Legacy Transfer) – Simon Mok

11am, Wednesday, May 27th 

See what top sales, Simon Mok, has to share with you this month on creating needsfor clients and closing the sale.

Click on the link below to join:

meet.google.com/gxz-uoxn-gqn

Life Business and Benefits for Advisors (New Par, CPB, etc.) — IA Rishu Bains

11am, Friday, May 29th 

Click on below to join:

Join Microsoft Teams Meeting

News from the Insurance Council of British Columbia

Last week to renew your license without penalty!

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.

The filing fee for this year is $225 (including government fee). After June 1st, 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 31st, 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.

Deadline to Complete Continuing Education Extended

The deadline for Insurance Council licensees to complete annual continuing education (CE) requirements for 2020 has been extended to the following year, May 31st, 2021. Licensees will still need to complete annual filing for this year by June 1, 2020 even if you haven’t completed your CE credits yet.

Go to the Council’s website for more information on the extension, including a Q&A.

CE Records: Your License, Your Responsibility

Licensees are required to keep a record of their continuing education (CE) for five years and make sure to keep a copy of your course completion certificates and course content information. If you are audited by the Insurance Council, you will be asked to provide your records at that time. Ultimately, it is the licensee’s responsibility to demonstrate that they have met the CE requirements for their license if audited.

For questions about how many CE credits you are required to complete annually, or what qualifies as technical content, visit ICBC website for more information.

Disciplinary Decisions

Jennifer Wai Yin Mok, a former licensee, was disciplined for contravening the Insurance Council’s Rules and Code of Conduct by falsifying insurance applications and placing policies with intent to cancel. The former licensee was found to have failed to act with competence, trustworthiness, in good faith, and in the usual practice of dealing with clients, and also failed to deal with the Insurance Council in a prompt and honest manner. The former licensee was fined $5,000 and assessed investigative costs of $4,187.50. Further, Council will not consider any further licensing applications from the former licensee until the fine and investigation costs are fully paid.

Best regards,

Administration Department

“The WAY to connect people. The WAY to drive business.”

Way Financial Inc.

Tel:  (1) 604 279 0866

Fax: (1) 604 278 0133

www.wayfinancial.ca

2nd Floor, 8171 Ackroyd Road

Richmond, BC V6X 3K1

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