Explanation of the recommendations that were made or the recommendation. advice that was given Reason Why -summarize relevant information from the fact CLHIA sample letters finding and needs assessment to explain the Clients should receive a recommendation written explanation of the -where appropriate, note differences between recommendation. Canada Life recommendation summary the recommendation and the client's choice of amount and/or type of coverage - appropriate, mention unmet needs to be addressed in the future - include a call to action, i.e, ask questions if anything is unclear and retain for future reference Product Information -advisors should be familiar with product information provided by companies and able The client should be informed See for Life’ on BridgeForce website at: ‘Quotes about options available through to relate this information to the needs of their the advisor and provided with clients information about the products that the advisor recommends. -specific measures to inform the client about products will vary with channels and circumstances (c’ond) -general educational consumer information available through CLHIA or government websites or brochures Specific to segregated This document explains how the process funds: CLHIA Reference described in The Approach, above, can be Document applied to sales of IVICs. The industry IVIC Suitability needs based – practices described within are intended to sales practices clarify the features of an IVIC to the needs of a client.
Explanation of the recommendation. recommendations that were made or the advice that was given Reason Why Clients should receive a written explanation of the recommendation. -summarize relevant information from the fact finding and needs assessment to explain the recommendation -where appropriate, note differences between the recommendation and the client's choice of amount and/or type of coverage - appropriate, mention unmet needs to be addressed in the future - include a call to action, i.e, ask questions if anything is unclear and retain for future reference CLHIA sample letters Canada Life recommendation summary Product Information The client should be informed about options available through the advisor and provided with information about the products that the advisor recommends. -advisors should be familiar with product information provided by companies and able to relate this information to the needs of their clients -specific measures to inform the client about products will vary with channels and circumstances (c’ond) -general educational consumer information available through CLHIA or government websites or brochures See ‘Quotes for Life’ on BridgeForce website at: Specific to segregated funds: CLHIA Reference Document IVIC Suitability – needs based sales practices This document explains how the process described in The Approach, above, can be applied to sales of IVICs. The industry practices described within are intended to clarify the features of an IVIC to the needs of a client.
Approach-w-tools-Feb.-2017.docx