Sun Life Global Investments reduces risk rating for Sun Life Real Assets Fund

ORONTO, Feb. 13, 2020 /CNW/ – Sun Life Global Investments (Canada) Inc. (“Sun Life Global Investments,” “SLGI”) today announced a risk rating change for Sun Life Real Assets Fund. Effective immediately, the risk rating for this fund has been lowered from “medium” to “low to medium.”

In accordance with the investment risk classification methodology mandated by the Canadian Securities Administrators, Sun Life Global Investments reviews the risk ratings of its funds at least once a year, as well as when a fund undergoes a material change.

The Sun Life Real Assets Fund’s risk rating changed following an annual review that was conducted as part of Sun Life Global Investments’ ongoing fund review process. While the fund will be renamed to “Sun Life Real Assets Private Pool,” effective on or about February 26, 2020, the investment objectives and strategies of the fund remain unchanged.

About Sun Life Global Investments (Canada) Inc. 
Sun Life Global Investments is a subsidiary of Sun Life Financial Inc. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. We bring together the strength of one of Canada’s most trusted names in financial services with some of the best asset managers from around the world to deliver a truly global investment platform. As of January 31, 2020, Sun Life Global Investments manages $29.68 billion on behalf of institutional and retail investors from coast-to-coast and is a member of the Sun Life group of companies. For more information visit www.sunlifeglobalinvestments.com or connect with us on Twitter @SLGI_Canada.

About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2019, Sun Life had total assets under management of $1,099 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.

Note to editors: All figures in Canadian dollars

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

© Sun Life Global Investments (Canada) Inc., 2020. Sun Life Global Investments (Canada) Inc. is a member of the Sun Life group of companies.

Media Relations Contact:
Alexandra Locke
Manager, Corporate Communications
T. 416-408-7357
Alexandra.locke@sunlife.com

SOURCE Sun Life Global Investments (Canada) Inc.

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Most people have health insurance coverage during their working years, but their employer picks up at least some of the cost. For retirees, the economics of buying similar coverage may not add up. Here’s why.

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The lawsuit claims Jason Garrison lost money due to Vancouver wealth management company’s negligence

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Canada’s first medical pot coverage plan and savings calculator launched

BuyWell.com, the first fully integrated Health and Wellness Marketplace in Canada, has introduced BuyWell Care. The new program is the country’s first guaranteed issue Medical Cannabis Coverage Plan and Medical Cannabis Savings Calculator.

By inputting the form of cannabis and dosage the calculator recommended to them into the BuyWell Care calculator, patients can determine how much they can save on their medical cannabis while purchasing coverage plans through the online application process. The coverage included in the program includes treatments that use cannabis oils, dried flowers, and gel capsules.

“BuyWell Care’s inclusion of coverage for medical cannabis is a true example of the paradigm shift that’s sweeping through the medical landscape,” said Dr. Ira Price, MD, FRCPC, and medical director of Synergy Health Services. “It’s a breath of fresh air.”

Research and findings from Synergy Health Services suggest that BuyWell Care Consumers may realize savings of up to $5,700 per year on their medical cannabis, depending on their province of residence.

“For hard-working Canadians who rely on medical cannabis as part of their treatment regimen, BuyWell Care’s Medical Cannabis Coverage Plan provides a revolutionary way to save money on their expensive medication,” said Amanda LeBlanc, co-founder of BuyWell.com.

Buyers in Ontario can immediately avail of coverage; for those in other provinces, coverages will be available beginning in Q1 of 2019.

Source: Life | Health Professional

How to find ‘advice only’ financial advisers

By Nerdwallet

THE ASSOCIATED PRESS

If you want money advice you can trust, your best bet is to hire a fee-only financial planner . The trick is finding a planner who’s willing to be hired for a reasonable fee.

Fee-only planners don’t accept commissions or kickbacks and are paid solely by client fees. Most use an “assets under management” model where they manage their clients’ investments and charge an annual fee of about 1 per cent. To make the math work, these financial planners usually require people to have hundreds of thousands of dollars to invest. Otherwise the advisers would reap too little from their fees to justify the hours spent creating financial plans.

This is obviously a problem for people who don’t have enough assets. It also can be a problem for those who do, since the advisers collect their fees year in and year out, regardless of how much advice they’re actually dispensing. Plus, not everyone wants or needs an adviser to invest their money.

It’s even becoming a problem for the planners themselves. A client with a small portfolio may have more complex needs, and require more time, than one with a larger portfolio, but the fees won’t reflect that.

Plus, what these planners are technically charging for investment management can be had for much less from robo-advisers. These digital investment services use computer algorithms to invest and typically charge one-quarter of one per cent.

Planners are essentially giving away the valuable part of what they do, the financial advice, while charging premium prices for the commodity that a machine can essentially do for much less.

Advisers increasingly are recognizing the flaws in this approach and some are exploring alternatives, such as charging flat monthly or quarterly fees, says financial journalist Bob Veres, owner of Inside Information, a site for advisers.

If you’re looking for financial advice that’s not based on the size of your portfolio, here are a few places to check and what you can expect to pay.

 

_GARRETT PLANNING NETWORK. Planner Sheryl Garrett’s network represents planners willing to charge by the hour, although many also manage assets for a fee. Members are either certified financial planners or they are on track to get the designation, or they’re certified public accountants who have the personal financial specialist credential, which is similar to the CFP. Garrett also requires its planners to be fiduciaries. Hourly fees usually range from $150 to $300. A consultation focused on one subject, such as a portfolio review, may take two or three hours. A comprehensive financial plan that covers taxes, insurance, estate planning, college planning and other relevant topics could require 20 hours or more.

_ADVICE-ONLY FINANCIAL. Financial blogger Harry Sit started his service to connect people with fee-only advisers who just charge for advice and don’t accept asset management fees. Sit’s concern is that advisers who do both will be tempted to push people toward asset management, since it’s more lucrative. Sit charges $200 to help people find fiduciary CFPs who are either local or, if none are available, willing to work remotely. The planners typically charge $100 to $400 an hour.

_ASSOCIATION FOR FINANCIAL Counselling & EDUCATION. Not every tax return requires a CPA and not every financial situation requires a CFP. An accredited financial counsellor or financial fitness coach can be a more affordable alternative. Coaches and counsellors in private practice typically charge $100 to $150 an hour, although many work on a sliding scale, says Rebecca Wiggins, executive director of the association, which grants both credentials. Others are employed by the military, credit unions or other organizations and offer their services for free or at reduced charge, she says. These counsellors or coaches focus on issues relevant to middle- and lower-income Americans, including budgeting, debt management and retirement planning.

“The main thing is that these professionals are affordable, unbiased, and highly trained,” Wiggins says. “Their focus is on the needs of the clients and establishing healthy financial management.”

_______

This column was provided to The Associated Press by the personal finance website NerdWallet .

Liz Weston is a columnist at NerdWallet

What women want from financial advisors

What women want from financial advisors

By Paul Lucus | WP

Sometimes statistics speak for themselves – 73 per cent of women are ‘unhappy’ with the financial service industry, while 87 per cent of females looking for a financial advisor say they can’t find one they can connect with.

These are the damning results of a survey by StrategyMarketing.ca pointing to a significant disconnect between what women want and what they are actually being offered from the financial services industry. Even though the industry has earmarked women as a valuable demographic, its efforts to actually retain them seem to be falling short.

So what mistakes are they making and what can they do to put them right? Wealth Professional spoke to Paulette Filion and Judy Paradi, the authors of the report and partners at StrategyMarketing.ca, to find out.

One of the biggest issues, it seems, is that financial advisors see women as a niche market and don’t develop a strong female friendly brand. Even though they may design marketing campaigns to appeal to women they aren’t actually doing the things needed to make them happy. Indeed when part of a couple, men are almost two times as likely to be approached by a financial advisor and the male partner is 58 per cent more likely to be seen as the primary contact.

“Male advisors still seem to have the deep down gut feeling that women are a secondary market – not really interested in finances,” commented Paradi.

“Financial advisors consider couples as one client, not two and that’s not true – they are two distinct people,” continued Filion. “With single female clients, advisors think how they’ve approached other clients in the past is the same for these female clients. It may not be. Women face challenges that male clients don’t face and have different communication styles that may appear to indicate hesitation, risk aversion or lack of trust when, actually, nothing could be further from the truth.”

READ MORE HERE:

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