Your business is unique. That's why we're committed to providing you with flexible, tailored support to help you navigate industry changes, assist your clients, grow your business and serve more Canadians.
This newsletter is your one-stop spot for the latest information on doing business with Canada Life. | | | | Canada Life closes Value Partners acquisition | Earlier this year, we announced our intention to acquire Value Partners Group Inc. an investment firm known for its impact in serving affluent and high‑net‑worth clients through its investment counsel Value Partners Investment Counsel, its investment fund manager Value Partners Investments, and a mutual fund dealer, LP Financial Planning Services Ltd. Last week, Canada Life closed on the acquisition, helping further extend our wealth capabilities and provide advisors with best‑in‑class discretionary asset management solutions and services for their affluent and high‑net‑worth clients.
While there’s no immediate impact to advisors, we expect to communicate more in the coming weeks on opportunities to leverage best‑in‑class discretionary asset management solutions. |
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| | |  | Compliance |
| | | | Quebec licensed advisors: Privacy compliance program and consent templates updated for Bill 64 | Quebec legislation, Bill 64, was first introduced Sept. 22, 2022. New requirements take effect Sept. 22, 2023, that further regulate privacy standards to improve the protection of personal information. Advisors licensed in Quebec will need to take action.
The new requirements include:
- Stronger, more transparent consent language
- Enhanced breach handling requirements
- Changes to when personal information can be collected with and without client consent
- Changes to privacy requirements related to public facing websites
What you need to do
There’s a new checklist that provides steps to take towards meeting Bill 64 requirements. There’s also a revised privacy compliance program template and privacy consent template. Replace your current privacy compliance program template and use the new privacy consent template in meetings with clients going forward. To find these updated materials:
- Go to the “Privacy” section of the “Top tools to be compliant” page
- Find the updated “Privacy Commitment and Client File Consent form”, “Privacy compliance program for Quebec templates” and “Checklist to help implement Bill 64 for Advisors and Firms in Quebec”.
Questions? Reach out to Canada Life Advisor Compliance or your regional compliance consultant. | | |  | Digital solutions |
| | | | What’s new with My Canada Life | - The first home savings account launched in June and is displayed on the overview page for clients who own this product. Policy details are not available at this time.
- Mid-year segregated fund statements are now available to download for any client who has registered and opted to go paperless. Clients will receive an email letting them know a new document is available.
Also, check out the quick reference guide for more information and to learn how to invite clients.
If your clients need help with My Canada Life, they can call 1‑888‑534‑1836 (Mon‑Fri, 8 a.m. – 8 p.m. ET). |
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