TORONTO, June 3, 2016 /CNW/ - Toronto-based international financial services provider Foresters Financial™ announced today its decision to end sales-based travel incentive conferences for its independent insurance advisors in Canada. The Elite Producers' Conference already scheduled for 2018 will be the last.
"This decision gives us the ability to best support our clients and agents as the industry continues to evolve," said Robert Baboth, Vice President Canadian Sales, North America Life Insurance and Annuity Division. "It's also an exciting opportunity to redesign how we deliver advisor education and development events."
The decision follows recommendations from the Canadian Life and Health Insurance Association (CLHIA) report on insurance sales in Canada, which advised that travel incentives could contribute to a "perception of a conflict of interest"1.
Foresters is currently exploring new initiatives that align with CLHIA recommendations and industry best practices. The organization has begun consultations with key stakeholders to identify options that offer educational and networking opportunities of value to advisors.
About Foresters Financial
Foresters Financial™ is an international financial services provider with more than three million clients and members in the United States, Canada and the United Kingdom, and total funds under management of $34 billion2. With a history of more than 140 years, we provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals, protect their families and improve their communities. For more information, visit foresters.com.
Foresters Financial and Foresters are trade names and trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9) and its subsidiaries. 413869 CAN (06/16)
1CLHIA, Insurance Distribution in Canada: Promoting a Customer-Focused System, https://www.clhia.ca/domino/html/clhia/clhia_lp4w_lnd_webstation.nsf/page/E3DBE80A6C47114C85257F630056EA5C
2in Canadian dollars as of December 31, 2015
For further information: Jennifer Peckett, Foresters Financial, 416 429 3000 X4340 (NA), [email protected]