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MEMORANDUM 

DATE:                  March 11, 2016 

TO:                       Valued Advisor 

FROM:                 Tracey Cambridge 

SUBJECT:            Carrier Contract Update

In November, we announced Global Pacific joining Barrington Wealth Partners Inc. as a member partner firm.  You may have already completed your documents needed to fulfill the carrier’s contractual requirements, and we thank you.  If not, we will be in touch with you to follow up and coordinate the documents needed.  In some situations, there has been no information necessary. 

I am pleased to provide a brief update on the following areas: 

1.      New Life Codes – Canada Life, Empire Life and Manulife

Advisors can expect to receive new Broker Codes and as a partner firm, Global Pacific will have a new Branch code with each supplier for reference on business.  Your Account Manager will ensure the correct code is displayed on your new business and inforce service requests. 

2.      Compensation Payments and Statements

Going forward, advisors will receive two EFT payments from Global Pacific since you will have two active VirtGate Advisor Records.   Your compensation details will also be on two VirtGate Advisor Records.  You can access the Posted Commissions details and prepare your Commission Statements using your existing login.  Your VirtGate logins are linked, providing access to all your data.  

3.      Client Service via Carrier Call Centers

Where communications are warranted direct with Client Service, you will want to have your applicable Fundserv code or your Life Code available to identify yourself, and gain access to client data. 

4.      FundServ Investment Accounts

The new FundServ codes begin with a seven (7+), your original FundServ code, under Dealer 3200 remains active for servicing existing client accounts with carriers, and for writing and submitting investment business with remaining carriers.  Refer to the table below providing an overview of the codes for use for each carrier. 

Your Account Manager will process and transact business on the appropriate Fundserv code. To obtain support regarding your client’s inforce policies and accounts, refer to the FundServ code applicable to the client account.

5.      Compliance

Regulation and legislation requires that Advisors and entities, including Independent Advisors, have a Compliance Regime.  It should include written Privacy Policy, Policy & Procedures, Anti-Money Laundering/Anti-Terrorist Financing Policy, Advisor Disclosure Statement Form as well as recommendations to incorporate needs-based sales practices in their business.  For more information refer to Gobal’s Winter edition of the Compliance Bulletin. 

In an ongoing effort to educate and support Advisors, Global Pacific has been working with Advisors on their Compliance Regimes.  The Compliance guides, templates and sample materials are available online, go to Global’s Library > Document Centre > search by Compliance Department to access the materials. 

6.      VirtGate Training Guide

A VirtGate Advisor Guide with tips is now available highlighting the various features to help you easily manage your client records, accounts and data.    

We are dedicated to our advisors and providing the service and support needed.  Thank you for your continued business and patience as we work hard to complete the contract updates. 

Should you have any questions or require assistance, please contact your Business Development Specialist or myself.

Tracey Cambridge

President