TORONTO and MONTREAL, Nov. 12 /CNW/ - Sun Life Financial and National Bank today announced they are forming a strategic partnership that will give Sun Life Financial advisors access to a wide range of National Bank lending products for clients, including National Bank's award-winning "All-In-One" account.
"Sun Life Financial is dedicated to helping Canadians achieve lifetime financial security," says Kevin Strain, Senior Vice-President, Individual Insurance and Investments, Sun Life Financial Canada. "Access to these National Bank products, along with Sun Life Financial's industry-leading life insurance, health insurance and wealth management products, positions our advisors to continue to meet the complex financial needs of Canadians."
"This exciting partnership with Sun Life is a great example of National Bank's strategy to further its expansion in select markets through strategic alliances. The objective is to grow National Bank's third-party distribution by developing partnerships that can quickly deliver a competitive and comprehensive value proposition, including a suite of lending products," said Martin Lavigne, Senior Vice-President, Third-Party Business Solutions, National Bank Financial Group.
Working with over 3,000 Sun Life Financial advisors, clients will now be able to choose from a wide spectrum of National Bank brand products, including:
- an RRSP loan program, starting in November 2009
- the "All-In-One" account and conventional mortgages, on an advisor
referral basis, beginning in March 2010
- investment loans in the spring of 2010.
"We believe that our products will complement Sun Life Financial's products and help meet the needs of their existing and future clients. Making customers our top priority resulted in the National Bank's 'All-In-One' account being named the 2008 Mortgage of the Year by Canadian Mortgage Trends," explains Lavigne.
Here are some of the many benefits clients will enjoy:
- the ability to consolidate their consumer debts at a competitive
- a consolidated view of all of their cash management activities in one
- free, unlimited electronic transactions, unlike many providers that
charge a monthly fee
- minimum amount of $25,000 to open a line of credit, compared to a
$75,000 minimum for other providers' accounts.
By investing in product development, services and partnerships, Sun Life Financial increases the number and quality of products available for clients, offers new tools for advisors and enhances its innovative leadership in the wealth market.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of September 30, 2009, the Sun Life Financial group of companies had total assets under management of $412 billion. For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
About National Bank of Canada
National Bank of Canada, which is celebrating its 150th anniversary in 2009, is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has close to $135 billion in assets and, together with its subsidiaries, employs 17,772 people. The Bank's securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank's website at www.nbc.ca.
SOURCE Sun Life Financial Inc.
For further information: For further information: Krista Wilson, Manager, Media and Public Relations, Sun Life Financial Canada, (519) 888-3900 x4896, email@example.com; Denis Dubé, Director, Public Relations, National Bank, (514) 394-8644, firstname.lastname@example.org