12/31/2008
THE CANADIAN BANKERS ASSOCIATION:
LIFE INSURANCE: THE WORDS AND THE MUSIC
The following is taken from the website of the Canadian Bankers Association:
THE WORDS
Consumer Protection.
Voluntary Commitments and Codes of Conduct.
CBA Code of Conduct for Authorized Insurance Activities.
The Purpose of this Code.
Canadian chartered banks are committed to meeting the insurance needs of their customers by providing them with access to authorized insurance products in a manner that serves customer interests. Banks will ensure that representatives offering these products are knowledgeable, provide clear product disclosure, respect customer privacy and provide prompt investigation of any problems customers may experience. This code sets out the minimum standards that apply to bank representatives who promote authorized insurance products in Canada..
The banking industry, through the Canadian Bankers Association, will review this model code from time to time to make sure that it is relevant and up to date.Training.
Bank representatives who promote authorized insurance products are properly trained, qualified and knowledgeable. Banks are committed to providing continuing education to their representatives on authorized insurance products.
THE MUSIC
http://www.cbc.ca/marketplace/in_denial/
Please visit the above site, click on the video and judge for yourself.
THE STATISTICS OF SUPPLY
In 1996 life insurance companies in Canada discontinued their support of the lifetime Career distribution channel as a direct consequence of the Ontario provincial legislation passed in that year. The legislation made it unprofitable to invest the time and resources necessary to provide new advisor recruiting, development, professional life insurance training and continuing education for professionals who chose a lifetime career in this field.Here are the stats:Fewer than 10% of the 17,000 certified financial planners in Canada are under age 34.The average age of financial advisors in all distribution channels, according to Investment Executive research, is 47. Some estimates place the average age of insurance advisors at 57.The total number of life insurance members of Advocis, the Canadian life insurance organization responsible for granting professional life insurance designations is approximately 12,000. The maximum number of advisors who are dual licensed having both life insurance industry designations and a Certified Financial Planning designation does not exceed 12,000. The total number of life insurance licensed advisors in Canada is 55,000.There are 14,000,000 boomers in Canada entering retirement who need Financial Planning, Retirement Planning and Estate Preservation Planning professionally trained and qualified advisors.To accommodate every boomer in Canada the advisors who are fully designated would have to acquire 1,000 new clients each.The supply logistics are prohibitive under the current distribution conditions. There are simply too few experienced and designated advisors to absorb the massive boomer numbers. To solve the supply problem we are changing the distribution paradigm.
® 2004 D.H. Zwicker Financial
® 2004 D.H. Zwicker Financial
OUR SOLUTION: WHAT WE DO AND HOW WE DO IT
A REAL TIME MARKETING/DISTRIBUTION PARADIGM
We have changed the distribution paradigm to accelerate real time boomer access to contemporaries collaboratively on an interactive community web 2.0 based platform who are actively engaged in their own retiremnent planning to compare notes and to then have access upon request to the best and the brightest professional financial practitioners in Canada who are professionally qualified to assist the boomers in arriving at a specific solution to each of their unique retirement capital and income preservation needs on an open and direct real time basis. Our unique consumer friendly, rigorously designed PDA handheld and PC compatible web based personal lifestyle (point and click/non numeric) financial capital planning software application will pinpoint a financial retirement capital shortfall in 5 minutes.The software answers a fundamental question we each have about our personal financial retiement capital, namely,
"Will I be O.K.?"
We are in the business of accelerating the resolution of the demand for structural financial security among almost 90,000,000 Boomers in North America. The financial product and service solutions to the needs of each unique boomer remains the responsibility of each boomer and their personal financial advisor.
We have changed the distribution paradigm to accelerate real time boomer access to contemporaries collaboratively on an interactive community web 2.0 based platform who are actively engaged in their own retiremnent planning to compare notes and to then have access upon request to the best and the brightest professional financial practitioners in Canada who are professionally qualified to assist the boomers in arriving at a specific solution to each of their unique retirement capital and income preservation needs on an open and direct real time basis. Our unique consumer friendly, rigorously designed PDA handheld and PC compatible web based personal lifestyle (point and click/non numeric) financial capital planning software application will pinpoint a financial retirement capital shortfall in 5 minutes.The software answers a fundamental question we each have about our personal financial retiement capital, namely,
"Will I be O.K.?"
We are in the business of accelerating the resolution of the demand for structural financial security among almost 90,000,000 Boomers in North America. The financial product and service solutions to the needs of each unique boomer remains the responsibility of each boomer and their personal financial advisor.
OUR UNIQUE COMPETITIVE ADVANTAGE
Our unique competitive advantage rests in our collaboratively integrative team thinking and in our rigorously disciplined contract execution. We integrate the best of "either or" choices into an optimum solution.We are client needs focussed. It forms the basis of all our choices in the development of any solution. The final test is that our solutions serve the greater good. These criteria are central to our engagement.
THE PROBLEM
We are identifying and bringing our best and brightest professional practice financial advisors in Canada together in a collaborative initiative to change the financial advisor access paradigm from its past status to a contemporary real time consumer sensitive delivery alternative. These professionally dedicated, competent and genuine individuals will be at the receiving end of real time interactive communication media including direct calls, email, text mail, conventional mail and other web based requests for answers and solutions to the fundamental question we each have about our financial future and that of those for whom we are responsible....."Will I be O.K.?" These professionals will provide the answers for our boomers, their children, their parents as well those in all other sectors of our economy who have not had an opportunity to develop a long term trust relationship with a financial professional on a par with the trust relationship they have with their own personal physician. Our dedicated physicians provide us with access to the dignity we experience with good health. Our dedicated professional financial advisors provide us with access to the dignity we experience in being financially independent. We are each entitled to experience nothing less. We are grateful for the opportunity we have had to experience these benefits in our own lives and to have assisted others in achieving the same benefits in their lives for over 31 years.The financial services sector is moving through a transition from product promotion to the delivery of impartial professional practice advice. It has been ongoing for over 12 years. We are acting as a catalyst to accelerate the process so that the benefits of the professional financial advice that we have experienced and delivered can be extended to the large demographic groups whose need for such advice can be met.We believe that it is of vital financial importance to all Canadians that we accelerate the availability of innovative real time contemporary direct access to experienced financial services professional practitioners. If such direct access is left unresolved it will impede the retirement aspirations of 14,000,000 boomers as well as having a collateral impact on the financial retirement results of all other consumer sectors in Canada.
TIME: AN ICONIC VIEW
This site is dedicated to the life, unparalled achievements and memory of Mr. Ben Feldman. Ben lived his adult life in East Liverpool, Ohio.
His depth of understanding of the complexities of life insured financial instruments began over 65 years ago. Ben was the pre-eminent icon among advisors in the North American Life insurance industry. His understanding of the function, value and place that life insured financial instruments play in each of our financial lives was unequalled. His vision, his industry leadership, his articulation, his unmatched productivity in this field are equalled only by his unassuming behavior. He was a genuinely gentle man. He had the strength of character to share his unique value and client needs based understanding with generations of professionals in the financial services industry.....for which we are grateful.
Ben produced more business as an individual advisor than that of entire companies. Ben Feldman (1912–1993) was an American businessman and one of the most prolific financial services practitioners in world history. He sold $1,800,000,000 of life insurance with New York Life Insurance from 1942 until his death in 1993.
His view of the assurance of the financial value of our lifetime of monetary effort follows:
"We guarantee the financial value of the time that we each expect to have in order to complete our financial plans for ourselves, our families and for our communities.If you cannot complete your plans as a result of a seismic economic collapse, a personal loss of health or of the premature loss of life the financial capital and income value of this lost time will be guaranteed and delivered to those whose lives depend upon our efforts."
He believed it was essential to put a financial "floor" below our capital as a base below which our assets cannot be depleted for reasons beyond our personal control. He dedicated his professional life to delivering upon this deeply held view. It was his passion.We refer to insured financial contracts as "The Third Asset Group".No other financial instrument offers such lifetime preservation guarantees of capital and income.There are two essentials necessary for our survival. Good personal health.....and good financial health. We believe that the assurance of good financial health ranks second only to our good personal health. We are dedicated to this view.
The life insurance contract is among the most complex financial instruments that exist. It is based upon the arcane mathematics of actuarial science and the equally complex discipline of medical science.His genius was in his ability to simplify it. Through his unique insight he conceived, created, developed and used simple analogies which he shared unselfishly with advisors and consumers.....resulting in an unparalleled gift of understanding.
Dan Zwicker
Toronto, Canada.
His depth of understanding of the complexities of life insured financial instruments began over 65 years ago. Ben was the pre-eminent icon among advisors in the North American Life insurance industry. His understanding of the function, value and place that life insured financial instruments play in each of our financial lives was unequalled. His vision, his industry leadership, his articulation, his unmatched productivity in this field are equalled only by his unassuming behavior. He was a genuinely gentle man. He had the strength of character to share his unique value and client needs based understanding with generations of professionals in the financial services industry.....for which we are grateful.
Ben produced more business as an individual advisor than that of entire companies. Ben Feldman (1912–1993) was an American businessman and one of the most prolific financial services practitioners in world history. He sold $1,800,000,000 of life insurance with New York Life Insurance from 1942 until his death in 1993.
His view of the assurance of the financial value of our lifetime of monetary effort follows:
"We guarantee the financial value of the time that we each expect to have in order to complete our financial plans for ourselves, our families and for our communities.If you cannot complete your plans as a result of a seismic economic collapse, a personal loss of health or of the premature loss of life the financial capital and income value of this lost time will be guaranteed and delivered to those whose lives depend upon our efforts."
He believed it was essential to put a financial "floor" below our capital as a base below which our assets cannot be depleted for reasons beyond our personal control. He dedicated his professional life to delivering upon this deeply held view. It was his passion.We refer to insured financial contracts as "The Third Asset Group".No other financial instrument offers such lifetime preservation guarantees of capital and income.There are two essentials necessary for our survival. Good personal health.....and good financial health. We believe that the assurance of good financial health ranks second only to our good personal health. We are dedicated to this view.
The life insurance contract is among the most complex financial instruments that exist. It is based upon the arcane mathematics of actuarial science and the equally complex discipline of medical science.His genius was in his ability to simplify it. Through his unique insight he conceived, created, developed and used simple analogies which he shared unselfishly with advisors and consumers.....resulting in an unparalleled gift of understanding.
Dan Zwicker
Toronto, Canada.
THE BEST AND THE BRIGHTEST
We are identifying and bringing our best and brightest professional practice financial advisors in Canada together in a collaborative initiative to change the financial advisor access paradigm from its past status to a contemporary real time consumer sensitive delivery alternative. These professionally dedicated, competent and genuine individuals will be at the receiving end of real time interactive communication media including direct calls, email, text mail, conventional mail and other web based requests for answers and solutions to the fundamental question we each have about our financial future and that of those for whom we are responsible....."Will I be O.K.?" These professionals will provide the answers for our boomers, their children, their parents as well those in all other sectors of our economy who have not had an opportunity to develop a long term trust relationship with a financial professional on a par with the trust relationship they have with their own personal physician. Our dedicated physicians provide us with access to the dignity we experience with good health. Our dedicated professional financial advisors provide us with access to the dignity we experience in being financially independent. We are each entitled to experience nothing less. We are grateful for the opportunity we have had to experience these benefits in our own lives and to have assisted others in achieving the same benefits in their lives for over 31 years.The financial services sector is moving through a transition from product promotion to the delivery of impartial professional practice advice. It has been ongoing for over 12 years. We are acting as a catalyst to accelerate the process so that the benefits of the professional financial advice that we have experienced and delivered can be extended to the large demographic groups whose need for such advice can be met.We believe that it is of vital financial importance to all Canadians that we accelerate the availability of innovative real time contemporary direct access to experienced financial services professional practitioners. If such direct access is left unresolved it will impede the retirement aspirations of 14,000,000 boomers as well as having a collateral impact on the financial retirement results of all other consumer sectors in Canada.
We are committed to facilitating the structural market resolution of the extraordinary demand being presented by the boomers in North America to those professional practitioners and their financial institutions who are best prepared to act in the financial security interests of this unique generation and their families.
We are committed to facilitating the structural market resolution of the extraordinary demand being presented by the boomers in North America to those professional practitioners and their financial institutions who are best prepared to act in the financial security interests of this unique generation and their families.
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