The Canadian Life and Health Insurance Association (CLHIA) recently announced the withdrawal of Guideline G19 on advisor compensation for group benefits and group retirement services, effective as of May 31, 2019.
The CLHIA stressed that in spite of these changes, its members remain committed to disclosure. CLHIA president and CEO Stephen Frank stated, “Our industry is still strongly in favour of market transparency and plans to work closely with regulators and other stakeholders on these matters going forward.”
At The Benefits Trust, we have always been committed to openness and transparency. As a result, the withdrawal of Guideline G19 will not change the way that we communicate with our clients and advisor partners—with integrity, trust, and transparency.
On all monthly financial statements, we demonstrate complete transparency of every benefit dollar spent in each category, including administration and commission. Check out the video below to learn more about how to read your financial statement.
We’ve been operating with transparency for the past 25 years, and will continue to do so going forward.
The Benefits Trust helps successful business owners build a better benefits plan than they can get anywhere else. Get in touch with us today!
Don’t miss our conversation-starter resource: 101 Sales Questions Every Benefits Advisor Should Know.
You may also be interested in:
- Common Benefits Advisor Problems: Adding Value, Part Three
- Common Benefits Advisor Problems: Adding Value, Part Two
- Dental Fees in Ontario Are Rising 4.19% This Year: What Can You Do?
- What the CLHIA’s Withdrawal of Guideline G19 Means for Transparency - July 10, 2019
- The Benefits Trust Is Celebrating its 25th Anniversary - January 21, 2019
- Season’s Greetings! See Our Holiday Hours - December 17, 2018
- Selling Benefits Plans to Religious Organizations, Not-for-Profits, Charities, and Other Special Interest Groups - February 23, 2018
- OHIP+: New Benefits for Children and Youth Coming January 1, 2018 - December 19, 2017
- Happy Holidays! See Our Seasonal Hours - December 11, 2017
- Battling Benefits Fraud: How Advisors Can Help - October 26, 2017
- Common Benefits Advisor Problems: Pricing Pandemonium - October 4, 2017
- Buyer Beware: Choosing a Third Party Administrator for Benefits Plans - September 21, 2017
- The Benefits Trust App: Features Update - June 13, 2017