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Total Cost Conversation — Navigating Client Relationship Model Phase 3 (CRM3) with clients
Discover how to navigate CRM3 conversations to build trust, clarity and stronger client relationships.
Join our May Master Class, featuring Invesco Global Consulting’s Program “Total Cost Conversation — Navigating Client Relationship Model Phase 3 (CRM3) with clients.”
Total Cost Reporting with CRM3 will become mandatory on client statements in January 2027 and now is the right time to start the conversation. This session will help you speak clearly and confidently with clients about what’s changing, using language that builds trust and understanding.
In this session, Invesco will explore:- What to say about CRM3 and how to explain it in a way clients understand.
- How trust differs across generations, including Boomers, Gen X and Millennials.
- How to clearly communicate and reinforce your value to clients.
- Learn practical ways to build trust and confidence when discussing CRM3 with clients.
- Support client conversations with greater transparency and clarity.
- Gain access to a research‑based script to open discussions about Total Cost Reporting.
Learn more - [pdf] Shareholder Borrowing Checklist
- [pdf] Payout Annuities Client Brochure
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Equitable celebrates FundGrade A+ awards, reinforces commitment to Canadian investors
Equitable® has been recognized with two FundGrade A+® awards, an annual distinction that recognizes exceptional performance among Canadian investment funds.
The award-winning funds are available on the new Equitable Guaranteed Investment FundsTM solution:
Equitable Invesco NASDAQ 100 ESG Index ETF
Equitable Fidelity® Global Innovators
“We’re honoured to receive this recognition,” says Cam Crosbie, Executive Vice-President, Individual Wealth. “These awards reflect the hard work of many teams across our organization and, of course, our partners.”
Looking ahead, Equitable Individual Wealth remains focused on continuous improvement and innovation. “This is just the beginning,” adds Crosbie. “We deeply value the trust advisors and clients place in us every day, and we’re committed to helping Canadians reach their financial goals with more confidence.”
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
Equitable and Equitable Guaranteed Investment Funds are trademarks of The Equitable Life Insurance Company of Canada. - Equimax Estate Builder® reprice
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Message from Ron Beettam
As COVID-19 continues to spread, we want to reassure you that we remain ready and committed to support you and your clients.
We have a robust and well-tested business continuity plan in place and our business is almost 100% digital. Almost 90% of our employees are now working remotely from home and are maintaining the high level of service you have come to expect from us. We still have a fully functioning Document Services Centre that is managing our incoming and outgoing mail. Our sales and customer service teams remain open to support you and your clients.
Equitable Life’s online application process, EZcomplete®, offers non face-to-face capability and continues to be your go-to resource for managing your business virtually. We are receiving a record number of online applications and are committed to helping you maintain a certain degree of daily activity. EZcomplete® non-face-to-face works for all life, critical illness and segregated fund applications.
Advisors will be pleased to know that we have increased non-medical limits for life insurance. We are also looking at other underwriting changes, digital delivery of life insurance contracts and additional digital payment options.
Our Savings & Retirement advisors will find our new Transaction Authorization Requirements table a valuable resource for submitting forms and documents. Can’t meet with your client in person to get a signature? Not to worry. You can have your client sign a letter of direction and take a picture to authorize a number of transactions.
Transacting in a non face-to-face environment can be a challenge but we will continue to revisit existing processes and look for ways to modify requirements to help you to continue managing your business. All of us are facing an unprecedented number of urgent situations where there is no established protocol. Our commitment to you and your clients is to respond quickly, and to be flexible where we can, tailoring solutions to specific needs.
To stay up-to-date, please refer to Equitable Life’s COVID-19 information page. There you will find the latest information for all lines of business.
As the global situation continues to evolve rapidly, we ask for your patience as our solutions also evolve quickly and accordingly. Rest assured that Equitable Life is unwavering in our support, and we will be here to help you protect what matters most to Canadians.
Ron Beettam, President and CEO -
NEW MARKETING MATERIAL! Equimax Participating Whole Life, Strong and Stable Dividends
Participating whole life policyholders can get some of the participating account earnings back as dividends.1
Dividend scales change over time. This new marketing piece shows how the actual values of policies look like against those that were estimated. It looks at two sample policies and compares them to the original sales illustrations. One example shows an Equimax Estate Builder® policy. The other example shows an Equimax® Wealth Accumulator® policy.
We are proud of our strong and stable dividend results. We have paid dividends to our participating policyholders every year since 1936. And we’re still going strong!
We want to make sure that we can continue to provide long-term income and growth to support the dividend scale and meet the product guarantees. We do this with constant focus on how we invest and manage risk to support the participating account.
As a mutual life insurance company, we are owned by our policyholders who count on us and our services. Their trust in our knowledge, experience, and financial strength helps us keep our commitments to them—now and in the future.
Dividend scales may change.2 But with a balanced approach, Equitable Life’s Equimax® Participating Whole Life continues to deliver excellent value. It gives guaranteed life insurance protection with the potential for earnings.
Want to learn more? Check out our new marketing piece: Equimax Participating Whole Life, Strong and Stable Dividends (2075).
For more information, reach out to your local wholesaler.
® and TM denote trademarks of The Equitable Life Insurance Company of Canada.
1 Dividends are not guaranteed and are paid at the sole discretion of the Board of Directors. Dividends may be subject to taxation. Dividends will vary based on the actual investment returns in the participating account as well as mortality, expenses, lapse, claims experience, taxes, and other experience of the participating block of policies.
2 If low interest rates continue, investment returns will be lower, and this may mean decreases in the dividend scale in the future. Dividend payments are not guaranteed, but they will never be negative. -
Announcing Equitable Life's National Biosimilar Program
Beginning March 1, 2024, we are expanding our biosimilar switch program nationally** to protect all our clients and to make our coverage consistent across Canada.
Our national biosimilar initiative will simplify drug plan coverage, replacing our provincial programs with one program across the country.
Why now?
Over the past few years, most provinces have introduced policies to delist some originator biologic drugs. They require most patients to switch to biosimilar versions of those drugs to be eligible for coverage under their public drug plans. Soon, it is expected that all provincial drug plans will cover only biosimilars.
In response, we have implemented biosimilar switch initiatives in BC, Alberta, Saskatchewan, Ontario, Quebec, New Brunswick and Nova Scotia to align with these provincial changes. Our initiatives are designed to protect our clients from additional drug costs that may result from these government policies while providing access to equally safe and effective lower cost biosimilars.
How will this affect clients’ drug plans?
Because we have already introduced biosimilar switch initiatives in most provinces, the impact of this change will be minimal. It will primarily affect plan members in provinces or territories where we haven’t already required the switch to biosimilars, and plan members who are taking biosimilars that were not originally included in the switch initiative for their province.
Regardless of where they live, plan members across Canada will no longer be eligible for most originator biologic drugs if they have a condition for which Health Canada has approved a lower cost biosimilar version of the drug. Plan members already taking the originator biologic will be required to switch to a biosimilar version of the drug to maintain coverage under their Equitable plan. We will support their transition with education, personalized communication, and resources.
Will this change affect clients' rates?
Any cost savings associated with the change will be factored in at renewal.
Biologics are drugs that are engineered using living organisms like yeast and bacteria. The first version of a biologic developed is known as the “originator” biologic. Biosimilars are highly similar to the drugs they are based on, and Health Canada considers them to be equally safe and effective for approved conditions.
What is the difference between biologics and biosimilars?
Advance notice
We will be communicating with affected claimants in early December to allow them ample time to change their prescription and avoid any interruptions in their treatment or their coverage.
If you have any questions about this change, please contact your Group Account Executive or myFlex Account Executive.
**Excludes plan members in Quebec who participate in a separate provincial program. -
Celebrating our most popular Pivotal Select funds
In August 2022, Equitable® launched 12 new segregated funds in Pivotal Select’s Investment Class (75/75). We wanted to bring some new innovative solutions to the product, including six sustainable investment funds. To say the launch of these funds was successful would be an understatement.
The funds are quickly becoming some of the most popular funds in Pivotal Select™, and their performance in 2023 was impressive. Equitable wants to celebrate these funds and encourage clients to consider them for their portfolios.
As of February 29, 2024, nine out of the 12 funds received a 1st quartile ranking for their 1-year return and two more were 2nd quartile. The table below shows the new funds that ranked in the top two quartiles for their 1-year returns.
Access additional fund performance information
If you haven’t looked at these funds yet, now is the time. Speak to clients about their investment options and see if these funds fit within their investment portfolio.
Talk to your Director, Investment Sales today for more information.Disclaimer
Any amount that is allocated to a segregated fund is invested at the risk of the contractholder and may increase or decrease in value. Segregated fund values change frequently, and past performance does not guarantee future results. Investors do not purchase an interest in underlying securities or funds, but rather, an individual variable insurance contract issued by The Equitable Life Insurance Company of Canada. There are risks involved with investing in segregated funds. Please read the Contract and Information Folder before investing for a description of risks relevant to each segregated fund and for a complete description of product features and guarantees. Copies of the Contract and Information Folder are available on equitable.ca.
Management Expense Ratios (MERs) are based on figures as of February 29, 2024, and are unaudited. MERs may vary at any time. The MER is the combination of the management fee, insurance fee, operating expenses, HST, and any other applicable non-income tax for the fund and for the underlying fund. For clients with larger contract values, a Management Fee Reduction may be available through the Preferred Pricing Program. For details, please see the Pivotal Select Contract and Information Folder.
® and TM denote trademarks of The Equitable Life Insurance Company of Canada.
Posted April 18, 2024
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Streamline your transactions with EZtransact
Skip the forms and submit more transactions digitally with EZtransact® to see how Equitable® has continued to make it easier for you to do business with us.
What’s new with these updates?
One-time PAD functionality for Daily/Guaranteed Interest AccountWith the recent addition of DIA/GIA PAD to EZcomplete, you can now utilize EZtransact for one-time pre-authorized debits. This means faster processing with one-time deposits for investment instructions to either a DIA and/or GIA (multiple terms) with end-of-term instructions.
Key benefits of these enhancements include:
• enhanced rate guarantees to secure the best rates available for clients,
• daily updated interest rate guide informs you of the latest rates,
• interest rate guarantee valid for three business days, for direct deposits from clients.
Be sure to use EZtransact on your next DIA/GIA one-time deposit request to experience these improvements.
Reduce RSP to RIF conversion timeReduce time and effort submitting Retirement Savings Plan (RSP) to Retirement Income Fund (RIF) conversion requests. EZtransact is continuing to reduce the amount of time it takes advisors to submit conversion requests.
Features include:
• RSP/Spousal RSP to RIF Conversion to effortlessly submit request digitally.
• RIF Calculator to easily calculate your conversions.
Save time with our enhanced digital experience.
Sort & Filter Enhancements
We’ve taken your feedback and made it easier than ever to find the contracts and clients you’re searching for. This improved advisor experience ensures you can:
• Filter “My Clients” By Product Type/ Registration Type
• Sort “My Clients” By Contract Number/ Client Name
• Filter “Transactions” By Transactions Status/ Transaction Type
• Sort “Transactions” By Date
You asked, and we listened! Keep providing us with your feedback on our digital tools. When we grow together, success is mutual.
Get to know EZtransact and accelerate your sales! If you have any questions, please contact your Director, Investment Sales.
Date posted: April 3, 2025