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Manulife One and Preferred Rate Mortgage Advisor Guide

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					Manulife One and Preferred Rate Mortgage
Advisor Guide




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Contents
1. Why incorporate Manulife One into your practice? ................................................................................................ 4
              Introduction ..............................................................................................................................................................................5
                  Manulife Bank and Manulife Trust ........................................................................................................................................5
                  Manulife One history............................................................................................................................................................5
              Client benefits...........................................................................................................................................................................6
              Advisor benefits ........................................................................................................................................................................8
              Case study ..............................................................................................................................................................................10

2. What is Manulife One? ............................................................................................................................................. 12
              An overview ............................................................................................................................................................................13
              How Manulife One works .......................................................................................................................................................14
              Manulife One account options ................................................................................................................................................16
                  First position accounts ........................................................................................................................................................16
                  Second position accounts ...................................................................................................................................................16
              A traditional option: Preferred Rate Mortgage .........................................................................................................................17

3. Manulife One distribution model ............................................................................................................................ 18
              Manulife One distribution .......................................................................................................................................................19
                  Mortgage Broker regulations..............................................................................................................................................19
                  Banking Consultants ..........................................................................................................................................................19
                  Advertising.........................................................................................................................................................................20
                  We do the work, you get paid............................................................................................................................................20

4. Identifying and speaking to potential Manulife One clients ................................................................................ 22
              Focus on efficient money management ...................................................................................................................................23
                  General guidelines .............................................................................................................................................................23
                  Starting the discussion .......................................................................................................................................................23
              Cash flow enhancement opportunities ....................................................................................................................................24
              Cash flow optimization opportunities ......................................................................................................................................28
              Cash flow protection opportunities .........................................................................................................................................34
              Special situations.....................................................................................................................................................................36
              Addressing objections .............................................................................................................................................................40

5. Marketing and compliance....................................................................................................................................... 42
              Regulatory overview ................................................................................................................................................................43
              Advisor activity guidelines .......................................................................................................................................................43
                  Examples of approved activities ..........................................................................................................................................44
                  Examples of prohibited activities.........................................................................................................................................44
                  Use of client information ....................................................................................................................................................45
                  Privacy and confidentiality ..................................................................................................................................................45

6. Working with Manulife Bank................................................................................................................................... 46
                  Getting started with Manulife One .....................................................................................................................................47
                  Accessing client information...............................................................................................................................................47


Note: This guide is current as of January 2011. Please visit the Manulife One page in the Banking section of Repsource at manulife.com/repsource or visit
manulifeone.ca for information on product enhancements and changes.


                                                                                                                                                                                                       3
1.

Why incorporate
Manulife One into your
practice?




4
Introduction

Manulife Bank and Manulife Trust
Manulife Bank is a Schedule I federally chartered bank and a wholly owned subsidiary of The
Manufacturers Life Insurance Company. Established in 1993, it was the first federally regulated
bank opened by an insurance company in Canada. Manulife Bank was created to support sales
of the parent company’s core products and assist financial advisors in providing their clients with
fully integrated financial plans. In 2010, Manulife Bank launched Manulife Trust as a wholly
owned subsidiary to expand its range of products and services.

Today, Manulife Bank and Manulife Trust offer a variety of competitive deposit, loan and
mortgage products, including Manulife One and Preferred Rate Mortgage, through financial
advisors across Canada.


Manulife One history
Manulife One is based on a revolutionary banking model that’s been popular in Australia and
the U.K. for many years. Manulife Bank introduced the all-in-one account model to Canadians in
1999. The premise of Manulife One is simple – combine all deposits and loans in one efficient,
flexible account to save Canadian homeowners money and help them get out of debt sooner.

Manulife One is an innovative approach to banking in Canada. With traditional banking, we’ve
been taught to set up a new loan or deposit account for each individual need. Canadians loan
money to their bank at relatively low rates through chequing accounts, savings accounts and
GICs; then they borrow it back, at higher rates, through loans and mortgages. The fact that most
Canadians aren’t aware how inefficient this method of banking is leads some to declare that
Manulife One is “too good to be true” when they first see what the account could do for them.

Luckily, as many thousands of Canadians discover every year, Manulife One isn’t too good to be
true – it’s just a smarter way to manage day-to-day finances.




                                                                                                      5
Client benefits                Save interest
                               A client’s “Manulife One Number” is the amount of
                               money they could save over the life of their mortgage
One of the best things about   simply by switching to Manulife One. For a lot of clients
Manulife One is that it can    this number is many thousands of dollars. And, they
                               shave years off their mortgage. What’s the secret? There
benefit Canadian homeowners
                               isn’t one – it’s just simple math. Manulife One makes it
in so many different ways.     easy for clients to consolidate their debt at a competitive
                               rate and use their savings and income to reduce their
                               debt more quickly. Less debt and a competitive rate
                               equals interest savings.


                               Improve cash flow
                               The direct result of interest savings is that clients typically
                               have additional free cash flow after they switch to
                               Manulife One. Depending on how inefficient their current
                               banking is, this could equal hundreds of dollars per
                               month. Improved cash flow can be used to create a
                               more robust financial plan, repay debt more quickly or
                               address lifestyle needs.




6
Get out of debt sooner                                                             Simplify banking with an account for life
Typically, clients leave at least some of their interest                           Manulife One addresses most banking needs within a
savings in the account and this money works to reduce                              single account. With Manulife One, clients no longer
their debt. Over time, the effect of this extra debt                               need to shuffle money among multiple savings accounts
reduction compounds and could allow clients to become                              and debts or wonder if a particular cheque will clear. Plus,
debt-free years sooner than with their traditional method                          each month they receive a comprehensive statement that
of banking.                                                                        shows all of their transactions and provides a clear picture
                                                                                   of exactly where they stand financially.

Create financial flexibility                                                       Finally, when their debt is gone, clients can continue to
                                                                                   use Manulife One as a high-interest chequing account
When we ask Manulife One account holders what they
                                                                                   with a large line of credit that can serve as a financial
like most about the account, the benefit they most often
                                                                                   back-up plan.
mention is “financial flexibility.”1 Financial flexibility
includes being able to:
                                                                                   Sub-accounts — variable and fixed
•	 Increase	deposits	to	the	account	and	rapidly	pay	
   down debt.                                                                      Manulife One allows clients to divide portions of their
•	 Reduce	or	suspend	deposits	to	the	account	if	income	                            debt into sub-accounts at no extra cost. If they’d like to
   is temporarily reduced or if other financial priorities                         add stability to their interest costs, clients can lock in their
   arise, as long as clients remain below their borrowing                          debt in up to five fixed-rate sub-accounts, which act like
   limit.                                                                          traditional mortgages within the Manulife One account.
•	 Easily	access	larger	amounts,	up	to	the	borrowing	                              If they’d like to track a portion of their variable-rate debt
   limit, to fund larger expenses and prepare for the                              separately, they can divide that debt into up to fifteen
   unexpected.                                                                     variable-rate sub-accounts.




1. In a 2010 online survey of 532 Manulife One clients, 43% noted “flexibility” as the thing they like most about Manulife One.


                                                                                                                                                 7
Advisor benefits                  Account growth
                                  Because Manulife One allows clients to manage their
                                  money more efficiently, it frees up cash that can be used
Since 1999, more than 5,000       to address or improve other aspects of their financial
advisors have referred their      plans – such as retirement savings. In a 2010 survey of
clients to Manulife One and are   Manulife One clients, 65% indicated they have used
                                  Manulife One to address other financial planning needs.1
enjoying several benefits.
                                  Client retention today
                                  All clients need banking services. If you’re not helping
                                  your clients with debt and cash flow management, there’s
                                  a good chance one of your competitors is. Manulife One
                                  helps to prevent your clients from discussing mortgages
                                  with a local banker – a discussion that could easily turn to
                                  broader financial planning issues.


                                  Client retention in the future
                                  Eventually, your clients will transition from building
                                  retirement assets to taking income from their assets.
                                  When this happens, where will that income flow? Will
                                  it flow to an account with a competitor, building their
                                  assets and giving them another opportunity to take
                                  over the client relationship? Or will the income flow to




8
an account you’ve provided, allowing you to continue to                               We do the work, you get paid5
provide comprehensive financial planning into your clients’
                                                                                      Because of Mortgage Broker regulations, you’re limited in
retirement years? Manulife One is an account for life. Even
                                                                                      what you can say and do with regards to mortgages. To
after your clients’ debt is gone, they can continue to use
                                                                                      help you introduce your clients to Manulife One, we’ve
the account as a high-interest savings account with their
                                                                                      established a network of Banking Consultants across
full line of credit available for emergencies.
                                                                                      Canada. You simply need to introduce your client to
                                                                                      Manulife One and then refer them to your local Banking
New clients                                                                           Consultant. They’ll describe the product in detail, answer
Manulife One enjoys a high satisfaction rating,2 with                                 all of your client’s questions and manage the application
nearly 80% indicating a high likelihood that they’d                                   process from beginning to end. For each successfully
refer the account to a friend or family member. We’ve       3                         funded Manulife One account, you’ll receive:
found that 28% of clients first hear about Manulife One                               •	 A	$400	referral	fee
from a friend or family member.4 While Manulife One                                   •	 An	annual	trailing	compensation	of	0.1%	of	the	
can’t be used to actively prospect new clients, due to                                    positive or negative balance in the account
Mortgage Broker regulations, referring Manulife One to                                •	 One	Manulife	Recognition	Credit	for	every	$100	
your existing clients can be an effective way to generate                                 approved line of credit
referrals to their friends and family members.




1. In a 2010 online survey of 532 Manulife One clients, 65% rated the statement “I have used Manulife One to address other financial planning
   needs” as 8, 9 or 10 out of 10, where 10 is “strongly agree.”
2. In the same survey, 78% of clients rated their overall satisfaction with Manulife One as 8, 9 or 10 out of 10.
3. In the same survey, 79% rated the statement “I would recommend Manulife One to a friend or family member” as 8, 9 or 10 out of 10, where
   10 is “strongly agree.”
4. In the same survey, 28% of clients indicated they first heard about Manulife One from a friend or family member.
5. Compensation is subject to change without notice.


                                                                                                                                                  9
Case study1


Rick	and	Leanne’s	advisor,	Grace,	has	recommended	they	each	contribute	an	additional	$200	per	month	to	their	RRSP	to	
meet their retirement savings goal. However, Rick and Leanne say they simply don’t have the money to do so. Together, they
look	at	the	couple’s	monthly	income	and	expenses	and	discover	that	although	they	have	a	healthy	net	income	of	$7,000,	
their	expenses	are	$6,900,	leaving	a	buffer	of	only	$100	per	month.		

Grace	notices	that	$2,450	of	their	monthly	expenses	is	related	to	debt-servicing,	and	she	thinks	they	could	do	better.	
Digging a bit deeper into Rick and Leanne’s debt and savings picture, she discovers the following:



 Debt                        Balance            Interest rate           Monthly payment               Monthly interest           Monthly principal

		Mortgage	                 	$250,0002			           4.50%	                     	$1,575		                     	$938		                    	$638	

		Vehicle	loan	              	$22,000		             6.00%	                      	$425		                      	$110		                    	$315	

		Line	of	credit	             	$8,000		             5.00%	                      	$200		                       	$33		                    	$167	

		Credit	card	debt	           	$7,500		            19.99%	                      	$250		                      	$125		                    	$125	

 Total                       $287,500                                           $2,450                       $1,206                     $1,244


 Savings                     Balance            Interest rate             Interest earned

		Rainy	day	account	         	$12,500		             1.00%	                     	$10.42	

		Chequing	account	           	$4,500		             0.00%	                        	$	-			

		Money	market	fund	          	$6,000		             0.50%	                      	$2.50	

 Total                        $23,000                                           $12.92

 Net monthly debt-servicing cost                                              $2,437.08



Not only is Rick and Leanne’s debt and savings structure costing them a lot of interest, their short-term savings are
earning them next to nothing. Grace suggests that they could save interest, improve their financial flexibility and find the
money they need for their retirement savings simply by banking more efficiently. Grace refers them to their local Banking
Consultant, Terry, to learn about Manulife One.




1. For illustrative purposes only.
2. The value of Rick and Leanne’s home is appraised at $340,000 and, with their current payments, they expect to be debt-free in about 20 years.


10
Terry shows them that by combining all of their debts and savings into a Manulife One account,
they	could	reduce	their	net	monthly	debt-servicing	cost	from	$2,437	to	$716	–	assuming	an	
interest-only payment on Manulife One. Of course, Rick and Leanne want to pay off their debt,
so	Terry	adds	in	their	current	monthly	principal	reduction	of	$1,244	for	a	monthly	debt-servicing	
cost	of	$1,960	–	an	improvement	of	$476	per	month.		Now,	instead	of	$100	of	excess	cash	flow	
per	month,	Rick	and	Leanne	have	$576.	


Banking with Manulife One

                                                Balance               Interest rate              Monthly interest costs

		Manulife	One	account	             	          $264,500	                  3.25%	                           $716.35

The Manulife One Base Rate is variable and subject to change without notice. Visit manulifeone.ca for current rates.




 Monthly improvement in cash flow

		Current	net	monthly	debt-servicing	cost	 		                                 		                         	$	2,437.08	

 Less Manulife One monthly interest cost 	                                    		                           $(716.35)

 Additional monthly cash available before principal payment                                                $1,720.73

 Less current monthly principal payment               	                       		                         $(1,244.23)

 Additional monthly cash flow available with current principal payments                                     $476.50



Terry shows them that if they leave all the excess cash flow in their account each month, they
could	save	$90,700	in	interest	payments	and	be	debt-free	almost	10	years	sooner.	However,	
Grace	has	let	Terry	know	that	Rick	and	Leanne	need	an	additional	$400	per	month	for	retirement	
savings.	Terry	shows	them	that	even	if	they	divert	$400	of	their	monthly	$576	of	excess	cash	flow	
to	retirement	savings,	they	could	still	be	debt-free	7.5	years	sooner	and	save	almost	$80,000	in	
interest payments. Plus, if their finances take a turn for the worse, they can easily access their
home equity, up to their borrowing limit.

Terry takes their application and helps them get their Manulife One up and running. A few weeks
later, Grace once again meets with Rick and Leanne to establish their investment program. They
are so excited with the results, they’ve already told Rick’s brother about Manulife One, and he’s
asked to meet with Grace to see if she can help improve his financial plan as well.




                                                                                                                          11
2.

What is Manulife One?
Manulife One is an all-in-one banking solution that combines your client’s mortgage with their chequing
account, savings account and other debts. By combining their debt and savings within a single account, the
savings reduces the overall debt balance as well as the interest payments. And, because Manulife One is
also their day-to-day chequing account, clients can have their income deposited directly into the account,
automatically reducing their debt each time they get paid.

This approach of combining debt and savings is a tremendously efficient way to manage debt and cash flow and
could help clients save interest, improve cash flow, get out of debt sooner and simplify their finances.




12
An overview
Most Canadian homeowners manage their money using a number of bank accounts, credit cards,
lines of credit and personal loans. They spend their time moving money around from one account
to another each month, which can be time consuming, frustrating and expensive.

                                              Savings

                                                                Mortgage
                                    Loans




                                                                                  Credit cards
                   Line of credit




                                                               ABC Company



                                                                              $$$.$$



                                                                      Bills
                                Investments


                                               Expenses




With Manulife One, clients put everything they owe into a single account. Then, they add the
balances from their chequing accounts and any short-term savings – including any special purpose
accounts, such as a vacation or emergency fund. This money can be accessed at any time.

Regular income and other deposits into the account pay down a client’s borrowings. As they
access the account to pay living expenses, their borrowings increase. However, every dollar that
remains in the account reduces their borrowings and their interest, since interest is calculated on a
daily basis.

The result: every dollar that clients have works to keep their debt – and interest costs – lower.




                                                                                   Bills and living
                                                                                      expenses




                       Income
                                                                                       Mortgage




                                                                              Retirement savings and
                                                                                other investments




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How Manulife One works

     Account inception                                                 Account operation
     1. Set-up. Your client opens a Manulife One account, which        1. Day-to-day banking. In many respects, Manulife
        is a line of credit secured by their home, and replaces            One operates like a typical chequing account.
        their	current	mortgage	(if	applicable).	Your	client	now	has	       Clients can access their accounts in a number of
        convenient access to a predetermined percentage of the             ways, including:
        appraised value of their home – typically 50% to 80%.
                                                                           Deposit options
     2. Add deposits. Your client transfers balances from savings
                                                                       	   •	 Direct	deposit	of	employment	income
        accounts, chequing accounts and cashable GICs into the
                                                                       	   •	 Deposit	at	any	ABM	bearing	THE	EXCHANGE®2
        account. This reduces their debt. Now, rather than earning
                                                                              logo
        taxable interest income, their money is reducing their
                                                                       	   •	 Transfer	funds	from	another	account
        after-tax interest costs.
                                                                       	   •	 Set	up	the	Manulife	One	account	as	a	“bill	
     3. Consolidate debt. Your client pays out other higher-                  payee” at another financial institution
        interest debts from their Manulife One account. Now,           	   •	 Mail	a	cheque	to	Manulife	Bank
        all of their debt is consolidated at a single, competitive
                                                                       	   •	 Use	customized	Manulife	Bank	deposit	slips	to	
        interest rate – the Manulife One Base Rate.1
                                                                              make a deposit at a Royal Bank teller
     4. Redirect income. Your client has their income
                                                                           Withdrawal options
        automatically deposited into the account. Now, each time
                                                                       	   •	 Write	a	cheque
        your client is paid, their debt is automatically reduced by
        the full amount of their income.                               	   •	 Transfer	funds	to	another	account
                                                                       	   •	 Pay	bills	online	or	over	the	telephone
     5. Set up sub-accounts. By default, all cash flows and debt       	   •	 Set	up	preauthorized	bill	payments
        are managed through the Main Account. Clients may also
                                                                       	   •	 Withdraw	money	from	any	ABM3
        choose to divide a portion of their debt in one or more
                                                                       	   •	 Ask	for	cash-back	when	they	make	a	debit	
        sub-accounts. Interest attributed to sub-account debt is
                                                                              purchase from a local merchant
        tracked and reported separately and charged monthly to
        the Main Account. There are two types of sub-accounts:         2. Paying down debt. With Manulife One, paying

     	   •	 Variable rate. Clients can open up to 15 variable rate         down debt is as simple as making a deposit. Most
            sub-accounts. These are charged the Manulife One               clients use this account as their “everyday” account
            Base Rate and can be repaid without penalty.                   and debt is automatically reduced by the amount
                                                                           that their income exceeds their expenses. Lump-
     	   •	 Fixed rate. Clients can add some predictability to their
                                                                           sum deposits can also be made at any time to
            interest costs by opening up to five fixed-rate sub-
                                                                           reduce the Main Account debt further.
            accounts. These feature a fixed interest rate for terms
            of 1-5 years. Regular payments are taken each month        3. Accessing equity. In addition to day-to-day
            from their Main Account. Clients are charged a penalty         withdrawals to cover regular expenses, clients can
            if they exceed the prepayment privileges outlined in           access additional funds, up to their borrowing
            their Operating Agreement.
                                                                           limit, to address larger expenses such as a vehicle




14
                                                         When the debt is gone
   purchase or investment contribution. There’s no       1. Day-to-day banking. Day-to-day banking functionality
   need for them to apply for a loan – they can simply       remains the same after the debt is gone. Clients can
   write a cheque, transfer funds or make a debit            continue to benefit from the simplicity and convenience
   purchase.                                                 of having all of their banking managed within a single
                                                             account.
4. Required payments. As long as clients remain
   below their borrowing limit, no deposits to the       2. Accessing equity. Once a client’s debt is gone, they
   account are required. If deposits are less than the       can continue to access their line of credit, up to their
   interest owing during the month, the interest is          borrowing limit, without applying for a loan. This can
   added to the Main Account balance.                        provide significant protection against unexpected
                                                             expenses or income interruption.
5. Monthly reporting. Each month, clients receive a
   comprehensive statement that provides a summary       3. Interest and fees. When the Main Account has a
   and graph of their debt-reduction progress, a list        positive balance, the full amount will earn a competitive
   of all account transactions and a breakdown of            interest rate – there’s no minimum balance required. The
   interest attributed to the Main Account and each          monthly account fee will continue to cover unlimited
   sub-account	(if	applicable).                              regular transactions.

6. Interest and fees. Interest is calculated based on
   the daily balance and charged at month-end. Debt
   in the Main Account and variable rate sub-accounts
   is charged the Manulife One Base Rate. Debt in
   fixed-rate sub-accounts is charged the applicable
   fixed	rate.	A	$14	monthly	fee	($7	for	seniors)4
   covers all regular transactions such as chequing,
   debit purchases, transfers and ABM transactions
   at	bank	machines	affiliated	with	THE	EXCHANGE®
                                                         1. The Manulife One Base Rate is a variable interest rate used to
   Network.
                                                            determine the rate applicable to the Manulife One Main Account and
                                                            any Variable-Rate Sub-Accounts. The Manulife One Base Rate is set
                                                            independently of Manulife Bank’s Prime lending rate and may change
                                                            without notice.
                                                         2. ABMs not associated with THE EXCHANGE® Network may charge a
                                                            convenience fee for this service.
                                                         3. Visit manulifeone.ca to find a listing of ABMs in your area. Fiserv
                                                            EFT is the owner of THE EXCHANGE® trade mark and its associated
                                                            rights. Fiserv EFT has granted FICANEX® the exclusive right to
                                                            use, market and sublicense THE EXCHANGE® trade mark and the
                                                            intellectual property rights associated with the operation of THE
                                                            EXCHANGE® Network throughout Canada. Manulife Bank of
                                                            Canada is an authorized user of the mark.
                                                         4. Fees are subject to change without notice.




                                                                                                                                  15
Manulife One account options

First position accounts
While all Manulife One accounts have the same basic functionality, there are some variations in the borrowing limit based
on the client’s financial situation and the intended use of the account.



                                       Low-ratio                Small business owner                     Standard                  Investment properties

 Loan to value1                        50% LTV                          65% LTV                          80% LTV                          65% LTV2

 Available locations                  Eligible                     Across Canada                     Across Canada                        Eligible
                                    communities3                 excluding territories             excluding territories                communities4

 Property types                  Single family home               Single family home             Single family home                 Single family home
                                   Condominium                      Condominium                 Owner-occupied duplex                  Duplex(semi)5
                                                                                                   Condominium                             Triplex
                                                                                                                                         Fourplex
                                                                                                                                          Condo
                                                                                                                                    Townhouse condo

 Target clients                     Newly landed                   Business owners                    Established                        Owners of
                                     immigrants;                  with little declared             homeowners with                       investment
                                       seniors                          income                     a mortgage and/or                      properties
                                                                                                      other debts




Second position accounts
Clients	who	have	enough	borrowing	room	(at	least	$50,000)	between	their	first	mortgage	and	80%	of	the	value	of	their	
home may open a Manulife One in the second position. The client’s mortgage must renew within a minimum of six months
and maximum of five years to be eligible to apply for a Manulife One in the second position.

This option gives clients the opportunity to get the Manulife One in place, at a special introductory rate,6 set up their
banking functions, use the line of credit and enjoy almost all the features of a normal Manulife One without having to break
their existing mortgage and pay an interest penalty. Then, when their first mortgage is ready for renewal, they can simply
roll their first position into their Manulife One and move forward with a Manulife One in the first position.




1.   “Loan to Value” refers to the ratio between the client’s approved borrowing limit and the appraised value of their home.
2.   A mortgage with a loan-to-value up to 80% will be considered if the client purchases mortgage default insurance.
3.   For a list of the communities, visit manulifeone.ca or speak to your local Manulife Bank representative.
4.   For a list of the communities, visit manulifeone.ca or speak to your local Manulife Bank representative.
5.   Multi-unit investment properties that are not owner-occupied will be considered if the client purchases mortgage default insurance.
6.   If clients choose not to move their Manulife One account into the first position when their current first position mortgage comes due, a higher rate
     may apply.


16
A traditional option: Preferred Rate Mortgage

In some cases, Manulife One may not be right for your         •	 Rate	guarantees:
clients. For example:                                         	   •	 Pre-approval:	We’ll	guarantee	the	rate	of	interest	
                                                                     that was in effect on the date of the client’s
•	 They	need	to	borrow	more	than	80%	of	the	value	of	
                                                                     application	for	90	days	(120	days	for	new	
   their home.
                                                                     construction).	If	the	rate	in	effect	on	the	day	their	
•	 They	don’t	qualify	because	of	their	credit	history.
                                                                     mortgage is funded is lower, they will receive this
•	 They	prefer	a	traditional	mortgage.
                                                                     better rate.
•	 They	simply	aren’t	confident	in	their	ability	to	manage	
                                                              	   •	 Renewal:	We’ll	guarantee	your	client	either	the	
   a large line of credit.
                                                                     rate in effect 60 days prior to renewal or the rate
In these cases, you can refer your clients to a traditional          at renewal, whichever is lower.
mortgage without sending them to one of your
                                                              •	 Free	appraisal,	title	insurance	and	CMHC	application	
competitors.
                                                                  fee	(if	applicable,	some	restrictions	apply).	
Preferred Rate Mortgage, offered through Manulife Trust,
                                                              The process for referring a client to Preferred Rate
offers:
                                                              Mortgage is the same as for Manulife One, with the full
•	 Fixed-rate	terms	of	six	months,	1,	2,	3,	4,	5,	7	or	10	    support of your Banking Consultant, and is outlined in
   years.                                                     the section entitled “Getting started.”
•	 Highly	competitive,	no-haggle	rates.
•	 Attractive	pre-payment	privileges	–	up	to	20%	of	the	
   original amount and a 25% increase in the payment
   amount per year, following the anniversary date.




                                                                                                                         17
3.

Manulife One
distribution model




18
Manulife One distribution

Mortgage Broker regulations
The distribution model for Manulife One and Preferred Rate Mortgage is different than for
most financial planning products due to the various provincial Mortgage Brokers’ Acts. With
most financial products, advisors can solicit business from the general public, describe products
in detail, compare various products for clients and take applications. However, with mortgage
products such as Manulife One and Preferred Rate Mortgage, these types of activities can
generally only be carried out by Mortgage Brokers and employees of approved lenders. For more
information on marketing activities, refer to Section 5, “Marketing and Compliance.”


Banking Consultants

What is a Banking Consultant?
To help you offer Manulife One to your clients, we’ve established a nation-wide network of
Banking Consultants. Banking Consultants are Manulife Bank employees and are, therefore,
exempt under Mortgage Brokers’ regulations.

Banking Consultants are Manulife One experts who can describe the product in detail and answer
any questions your clients may have. They’ll also help your clients see how Manulife One could
improve their specific financial situation and provide them with additional cash flow that could be
used to address other financial needs.


A partner in your business
Because we’re an advisor bank, you can be certain that your Banking Consultant is your partner –
not your competitor. Their job is to meet with your client, make the sale, manage the application
process from start to finish and then send the client back to you. Throughout the application
process, they’ll stay in touch and provide you with progress updates.

To find your local Banking Consultant, call our advisor support line at 1-800-567-9170 or visit
manulifeone.ca.




                                                                                                      19
     Advertising
     From time to time you may see Manulife One being advertised in consumer publications,
     websites or on television. Most advisors appreciate this additional exposure as clients tend to be
     more open to a Manulife One referral if they’re already aware of or familiar with the product.
     In fact, some advisors find clients approaching them about the product as a result of seeing an
     advertisement.

     But what about cases where clients seek out a Banking Consultant directly after seeing an
     advertisement? When a client comes to us directly, one of the first questions we ask is, “Do you
     have a financial advisor?” If they do, we ask them to start by requesting a referral from their
     advisor. This ensures you’re aware of your client’s interest in the product so you can help them
     determine if the product is appropriate and, later, integrate it into their broader financial plan.
     Of course, it also allows you to receive compensation for the referral.


     We do the work, you get paid1
     Because much of the sale and application process is managed by the Banking Consultant, it’s
     almost like we do the work and you get paid!


     Manulife One
     For each funded Manulife One account, you’ll receive:

     •	 A	$400	referral	fee	(regardless	of	the	borrowing	limit	or	outstanding	debt).
     •	 An	annual	trailing	compensation	of	0.1%	of	the	positive	or	negative	balance	in	the	account	
        (calculated	and	paid	monthly).
     •	 One	Manulife	Recognition	Credit	for	every	$100	approved	line	of	credit.

     Preferred Rate Mortgage
     For each funded Preferred Rate Mortgage, you’ll receive:
     •	 An	annual	trailing	compensation	of	0.1%	of	the	account	balance	at	month	end	(calculated	
        and	paid	monthly).
     •	 One	Manulife	Recognition	Credit	for	every	$2	of	full-year	compensation.


     Manulife Bank Platinum Plus® MasterCard® with WorldPoints®2
     When the Banking Consultant discusses Manulife One or Preferred Rate Mortgage with your
     client, they’ll also offer your client a Manulife Bank MasterCard. With this card, your clients




20
can earn reward points that can be used for travel,                            While many advisors already address their clients’
merchandise or to exchange for a cash deposit to their                         insurance needs, we’ve chosen to offer this product for a
Manulife One account to offset their monthly fee. Plus,                        few reasons:
we encourage clients to repay their MasterCard each
                                                                               1. All banks sell Creditor Insurance. Some of your clients
month from their Manulife One account, before interest
                                                                                   likely already have Creditor Insurance with their
is charged, to keep their interest costs as low as possible.
                                                                                   current lenders and expect that it will also be available
When your clients have a Manulife Bank MasterCard,                                 with Manulife One.
they’re less likely to use one of your competitor’s cards –                    2. We want to facilitate your business. If you’ve already
and this means one less opportunity for your competitor                            addressed all of your clients’ insurance needs, then
to expand their relationship with your client.                                     this may be a very short conversation with the client.
                                                                                   However, if they have insurance needs that aren’t
You’ll receive:
                                                                                   being met, introducing Creditor Insurance may be
•	 $50	up-front	compensation	for	accounts	that	are	                                a great entry point for you to discuss the client’s
    activated and used within 90 days and remain open                              broader insurance needs and create a customized
    for at least 90 days.                                                          plan for them. While we believe this is an excellent
•	 0.1%	of	the	net	retail	purchases	made	with	the	card	                            product, clients are free to cancel their coverage at
    regardless of when the account is activated.                                   any	time	(premiums	refunded	if	it’s	within	30	days	
                                                                                   of	approval)	if	you	decide	together	that	another	
                                                                                   insurance product is more appropriate.
Creditor Insurance
                                                                               3. There may be risks that are not covered. If your clients
When Banking Consultants discuss Manulife One, they                                don’t currently have adequate coverage, Creditor
also let clients know about the Creditor Insurance option,                         Insurance can provide interim short-term coverage.
which has some unique features that set it apart from                              Then, when you have time, you can meet with your
other Creditor Insurance products:                                                 client and develop an insurance program that meets
                                                                                   their unique needs.
•	 The	premium	and	benefit	are	based	on	the	
    outstanding balance in the account – as the debt is                        You’ll receive:
    paid down, the premium and benefit also goes down.
                                                                               •	 Trailing	compensation	of	5%	of	the	monthly	premium	
    In other words, clients only pay for the coverage they
                                                                                   for each Creditor Insurance policy that’s activated.
    need.
•	 The	policy	covers	all	debt	within	the	account,	                             Note: You must have a Manulife life code to receive compensation for
                                                                               this product.
    including those they’ve consolidated from other
    sources, such as credit cards and vehicle loans.
•	 Clients	have	the	option	of	choosing	additional	Job	
    Loss and Disability coverage.




1. Compensation is subject to change without notice.
2. MBNA Canada Bank is the exclusive issuer and administrator of the MBNA Platinum Plus Credit Card Program in Canada. MBNA, MBNA Canada, MBNA
   Canada Bank, MBNA Platinum Plus, WorldPoints and the MBNA logo are all trademarks of FIA Card Services, National Association, used by MBNA
   Canada Bank pursuant to licence. MasterCard, MasterPurchase and MasterRental are registered trademarks of MasterCard International, Incorporated,
   used pursuant to licence.


                                                                                                                                                      21
4.

Identifying and speaking
to potential Manulife One
clients




22
Focus on efficient money management

General guidelines
Your Manulife One discussion should focus on debt management and cash flow. You can discuss
how this more efficient method of money management can improve their overall financial
situation and free up cash flow that can be directed to other aspects of their financial plans.
However, you can’t discuss details of the product or compare it to other mortgages – these are
considered to be mortgage brokering activities.


Starting the discussion
The best way to introduce Manulife One is to get a good understanding of your client’s debt and
cash flow situation, attitudes and needs. To help you do this, use Manulife Bank’s “Client Debt
and	Cash	Flow	Profile”	questionnaire	(AB0550).	This	short	questionnaire	will	help	you	start	a	
discussion	and	identify	the	primary	need(s)	that	could	be	met	with	Manulife	One.

You may wish to introduce the topic and questionnaire in this way:
      As your advisor, my job is to help you improve all aspects of your financial life. How we
      manage our debts and day-to-day cash flow can have a significant impact on our ability
      to realize our other financial goals. They can also impact our quality of life by determining
      whether or not money is a source of stress in our lives.

      With many of my clients, I’ve found that a candid discussion about debt and cash flow has
      helped to identify opportunities to save money, reduce debt, simplify finances and reduce
      the stress associated with income and expenses that don’t always align perfectly.

      Would you be interested in going through a short questionnaire to see if we can find ways
      to improve your day-to-day finances?

Once	you’ve	completed	the	questionnaire,	refer	to	“Identify	the	Referral	Opportunity”	(AB0549)	
to help you identify your client’s primary need and the resources that can help you position
Manulife One as a way to address these needs.

In general, these needs fall into one of four categories:
1. Cash flow enhancement – Improve cash flow by arranging income and expenses more
   efficiently.
2. Cash flow optimization – Improve ability to quickly and easily adapt to changing financial
   circumstances.
3. Cash flow protection – Provide debt-free homeowners easy access to equity to meet daily
   and unexpected expenses.
4. Special situations – Provide customized solutions for investment opportunities.

The following section identifies the primary client needs within each category and provides some
suggestions for introducing and discussing Manulife One in each situation.

                                                                                                      23
Cash flow enhancement opportunities
1. Become debt-free sooner and/or save interest

                                                                              Introducing the topic
     ClIeNT PROFIle:
                                                                              Something I’ve been talking to clients about recently is
     Clients who have mortgage debt and likely                                their debt and day-to-day cash flow. Most clients I’ve
     other debts and savings. The primary goal is to                          talked to have a variety of different debts, at a variety
     become debt-free and/or reduce the amount of                             of rates, and they also have savings scattered across
     money they’re spending on debt-servicing.                                several chequing and savings accounts. It’s not surprising,
                                                                              because this is how most of us have been taught to
                                                                              arrange our finances. However, keeping savings and
                                                                              debts separate actually costs us a lot of money because
                                                                              it means we’re loaning money to our bank at a low
     Key ClIeNT BeNeFIT:
                                                                              rate through savings and chequing accounts and then
     Manulife One is a more efficient way of banking                          borrowing it right back at a higher rate through loans
     that could help clients reduce the amount of                             and lines of credit. It’s just not a very efficient way to
     interest they pay and become debt-free sooner.                           manage our money and it keeps us in debt much longer
                                                                              that we need to be. Would it be fair to say that becoming
                                                                              debt-free is one of your financial goals?


Note: Although the Manulife One calculator at manulifeone.ca can be a         Why are we talking about this?
very effective tool for helping clients to understand the potential benefit
of this account, running this calculator for clients could be considered
a mortgage-brokering activity because it involves comparing mortgages.        I’d like to help you achieve your goal of becoming debt-
Instead, ask clients to complete the calculator on their own (either          free sooner with an innovative way of banking that’s very
before or during your meeting) or ask the Banking Consultant to run the
calculator with the client after the referral has been made.                  popular in the U.K. and Australia, and is now expanding
                                                                              rapidly in Canada. This banking method brings all of
                                                                              your banking needs together into a single, more efficient
                                                                              structure that could help you own your home years
                                                                              sooner. Have you ever heard of Manulife One or perhaps
                                                                              seen an ad on TV for this account?


                                                                              What could it do for me?
                                                                              Switching to Manulife One could potentially save you
                                                                              interest and help you become debt-free years sooner
                                                                              without changing how much you spend. It simply
                                                                              involves managing your debt and cash flow more
                                                                              efficiently.

                                                                              Manulife One allows you to combine your various debts
                                                                              with your savings and chequing accounts to reduce your
                                                                              debt and consolidate it at one competitive rate. Plus,
                                                                              Manulife One acts as your day-to-day chequing account
                                                                              and you can have your income automatically deposited


24
each time you’re paid. Every deposit to the account             Manulife Bank has a local representative in the area,
automatically reduces your debt and saves you interest.         <name>, who’s an expert on Manulife One and could
As long as your income exceeds your expenses your debt          provide you with more information on the product and
is automatically repaid. Over time, having all of your          answer any questions you might have. He/she will also
excess income remain in the account could save you a            be able to provide you with a customized illustration
considerable amount of interest and help you become             to show you how much you could save and how much
debt-free years sooner.                                         sooner you could be debt-free simply by switching to
                                                                Manulife One. I’ve had a number of clients work with
I like to call this “banking for adults” because it gives you
                                                                him/her and everyone has told me he/she’s great to work
so much control over your banking. And, once you’re
                                                                with.
debt-free, the money you had been spending on debt-
servicing can be spent on things you really enjoy.              There’s no obligation, but if you decide you’d like to
                                                                proceed, he/she can take your application and help you
                                                                get up and running. Can I ask him/her to give you a call
Getting agreement to the referral process
                                                                to set up an appointment?
There’s a lot more I’d like to tell you about Manulife One;
however, due to Mortgage Broker regulations, I can’t get
into too much detail. I think this product could be a great
fit for you as it could help you get out of debt faster and
save you interest.




                                                                                                                         25
Cash flow enhancement opportunities
2. Find extra cash to address other spending needs

                                                      Introducing the topic
     ClIeNT PROFIle:
                                                      It’s actually quite common for clients to have difficulty
     Clients who are currently unable to address      finding enough money to address all aspects of their
     certain financial goals or needs due to          financial plan. The good news is that I think I can help
     insufficient free cash flow. Clients are         you find some extra money without asking you to make
     homeowners and have multiple debts and           any changes to how you spend.
     savings that could generate cash flow savings
                                                      Most clients I’ve talked to have a variety of different
     by combining them more efficiently within a
                                                      debts, at a variety of rates, and also have savings
     Manulife One account.
                                                      scattered among a variety of chequing and savings
                                                      accounts. It’s not surprising, because this is how most of
                                                      us have been taught to arrange our finances. However,
     Key ClIeNT BeNeFIT:                              keeping savings and debts separate actually costs us a
                                                      lot of money because it means we’re loaning money to
     Manulife One allows clients to manage their
                                                      our bank at a low rate through savings and chequing
     debts and savings more efficiently. This could
                                                      accounts and then borrowing it right back at a higher
     reduce the amount of interest they’re charged
                                                      rate through loans and lines of credit. It’s just not a
     each month and consequently free up cash flow
                                                      very efficient way to manage our money and it ends up
     that could be used to address other financial
                                                      costing us a lot more than it needs to. You may have
     needs.
                                                      heard about, or seen a commercial for, a product called
                                                      Manulife One, which is actually designed to solve this
                                                      problem by making your money work more efficiently.


                                                      Why are we talking about this?
                                                      My job as your financial advisor doesn’t just involve
                                                      helping you come up with a financial plan. It’s also to
                                                      help you structure your day-to-day finances in a way that
                                                      allows you to actually implement that financial plan.


                                                      What could it do for me?
                                                      Switching to Manulife One could help you find additional
                                                      money each month without changing how much you
                                                      spend. It simply involves managing your debt and cash
                                                      flow more efficiently.

                                                      Manulife One allows you to combine your various debts
                                                      with your savings and chequing accounts to reduce your
                                                      debt and consolidate it at one competitive rate. Plus,
                                                      Manulife One acts as your day-to-day chequing account
                                                      and you can have your income automatically deposited

26
each time you’re paid. Every deposit to the account           Manulife Bank has a local representative in the area,
automatically reduces your debt and saves you interest.       <name>, who’s an expert on Manulife One and could
As long as your income exceeds your expenses your debt        provide you with more information on the product,
is automatically repaid. Because this structure generally     answer any questions you might have and show you how
reduces the amount of interest you pay on your debt,          much you could save each month. I’ve had a number of
you’ll likely find you have extra money at the end of each    clients work with him/her and everyone has told me he/
month. What I usually recommend is that clients leave         she’s great to work with.
some of that extra money in the account to help them
become debt-free sooner and use some of that extra cash       There’s no obligation, but if you decide you’d like to
to improve their broader financial plan.                      proceed, he/she can take your application and help you
                                                              get up and running. Can I ask him/her to give you a call
It’s just a smarter, more efficient way to bank. And,         to set up an appointment?
in your situation, it could help you ensure that other
financial needs are being met.


Getting agreement to the referral process
There’s a lot more I’d like to tell you about Manulife One;
however, due to Mortgage Broker regulations, I can’t get
into too much detail. I think Manulife One could save you
interest that could be used to help you achieve more of
your financial goals.




                                                                                                                     27
Cash flow optimization opportunities
3. Variable income and/or expenses (including small business owners)

                                                          Introducing the topic
     ClIeNT PROFIle:                                      Some of my other clients have variable incomes and the
     Clients whose income and/or expenses vary from       thing I hear most often is that it’s difficult to manage
     month to month – often common among small            spending when you don’t know what your income will be
     business owners and those working primarily          over the next few months. Traditional banking has been
     on commission. These are homeowners who              designed primarily for people with incomes that don’t
     struggle and/or find it stressful to deal with the   vary much from month to month. Fixed, inflexible debt
     uncertainty associated with fluctuating income.      payments work well for someone with stable income,
                                                          but for someone with income that varies, this type of
                                                          banking just doesn’t make sense. If you have variable
                                                          income, you need flexible banking.
     Key ClIeNT BeNeFIT:
     Manulife One allows clients with variable income     Why are we talking about this?
     to manage income fluctuations more easily. In
                                                          My job is to understand your unique financial situation
     high-income months clients can accelerate their
                                                          and help you find the tools you need to achieve your
     debt repayment. In low-income months they can
                                                          financial goals. Because you have variable income, one
     draw upon their line of credit.
                                                          of your key financial needs is a tool that will help you
                                                          accelerate your financial plan when times are good and
                                                          protect your financial plan when you hit a rough patch.
                                                          This will allow you to focus on your long-term objectives
                                                          and not worry about what will happen if your income is
                                                          lower for a few months.


                                                          What could it do for me?
                                                          Switching to Manulife One could give you the flexibility
                                                          to pay down your debt much faster in high-income
                                                          months and borrow that money back, if needed, in
                                                          lower-income months.

                                                          Manulife One allows you to combine your various debts
                                                          with your savings and chequing accounts to reduce your
                                                          debt and consolidate it at one competitive rate. Plus,
                                                          Manulife One acts as your day-to-day chequing account
                                                          and you can have your income automatically deposited
                                                          each time you’re paid. Every deposit to the account
                                                          automatically reduces your debt and saves you interest
                                                          – which is great for months where your income is high.
                                                          And, because Manulife One is secured by your home, it



28
also provides you with access to a large line of credit so    Manulife Bank has a local representative in the area,
you can withdraw extra money, up to your borrowing            <name>, who’s an expert on Manulife One and could
limit, if you have a lower-income month.                      provide you with more information on the product and
                                                              answer any questions you might have. I’ve had a number
I’ve sometimes heard Manulife One described as
                                                              of clients work with him/her and everyone has told me
“banking for adults.” With Manulife One, as long as you
                                                              he/she’s great to work with.
remain below your borrowing limit, it’s up to you how
quickly or slowly you repay your debt. In other words, it’s   There’s no obligation, but if you decide you’d like to
ideal for homeowners with variable income since it allows     proceed, he/she can take your application and help you
you to match your debt reduction to your cash flow.           get up and running. Can I ask him/her to give you a call
                                                              to set up an appointment?

Getting agreement to the referral process
There’s a lot more I’d like to tell you about Manulife One;
however, due to Mortgage Broker regulations, I can’t
get into too much detail. I think Manulife One is a great
account for homeowners like yourself, who have variable
income, because it allows you to match your debt
payments to your income.




                                                                                                                       29
Cash flow optimization opportunities
4. Prepare for unexpected expenses

                                                        Introducing the topic
     ClIeNT PROFIle:                                    I’d like you to keep in mind that your home is one of your
                                                        most significant assets and we should ensure that you’re
     Homeowners who need a financial back-up plan
                                                        getting full benefit for all of your hard work paying down
     or who have significant cash reserves that could
                                                        your debt.
     be put to better use. These clients may be in or
     approaching retirement.                            It’s important to have a financial back-up plan in case
                                                        an	unexpected	expense	(for	example,	if	your	car	breaks	
                                                        down	or	you	need	to	help	out	a	family	member)	or	
                                                        opportunity	(such	as	travel)	comes	up.	Manulife	One	is	an	
     Key ClIeNT BeNeFIT:                                account that can address these types of events by giving
                                                        you access to your home equity so you’ve got a ready
     Clients can put their “rainy day” savings to
                                                        solution if a sudden financial need arises.
     better use and rely on their Manulife One
     account as a financial back-up plan. Or, if they   You’re not required to borrow from the account and
     have excessive cash reserves, they can put that    you’re not charged interest if you don’t have any debt –
     cash to better use and rely on a line of credit    but you can access your line of credit quickly and easily if
     as a first line of defense in case of unexpected   needed.
     expenses.

                                                        Why are we talking about this?
                                                        My job is to understand your unique financial situation
                                                        and help you find the tools best suited to you. Because
                                                        you have significant home equity, it may make sense
                                                        to explore the benefits your equity offers you with a
                                                        Manulife One account.


                                                        What could it do for me?
                                                        If you have a sudden financial need, you can easily access
                                                        money, up to your borrowing limit, from your Manulife
                                                        One account. And, as long as you don’t lock your debt
                                                        in with a fixed rate, you can repay the debt at any time
                                                        without penalty. Similarly, Manulife One can enable you
                                                        to take advantage of opportunities that may arise. If you
                                                        don’t have enough cash savings or it’s not a good time to
                                                        sell investments, you can borrow from your Manulife One
                                                        account to take advantage of the opportunity.

                                                        Finally, Manulife One could simplify your finances by
                                                        addressing most of your banking needs within a single



30
account. You can spend less time managing your day-            Manulife Bank has a local representative in the area,
to-day finances and more time on things you’d rather be        <name>, who’s an expert on Manulife One and could
doing.                                                         provide you with more information on the product and
                                                               answer any questions you might have. I’ve had a number
                                                               of clients work with him/her and everyone has told me he/
Getting agreement to the referral process
                                                               she’s great to work with.
There’s a lot more I’d like to tell you about Manulife One;
                                                               There’s no obligation, but if you decide you’d like to
however, due to Mortgage Broker regulations, I can’t
                                                               proceed, he/she can take your application and help you get
get into too much detail. I think Manulife One is a great
                                                               up and running. Can I ask him/her to give you a call to set
account for homeowners like you, who have significant
                                                               up an appointment?
home equity, because it simplifies your day-to-day
finances and gives you the financial flexibility you need to
take advantage of opportunities or deal with unexpected
expenses.




                                                                                                                        31
Cash flow optimization opportunities
5. Simplify finances

                                                             Why are we talking about this?
     ClIeNT PROFIle:                                         My job is to understand your unique financial situation
     Homeowners with complicated banking                     and help you find the tools best suited to you. From our
     arrangements who could benefit from simplifying         discussion, it appears that managing your day-to-day
     their day-to-day finances.                              finances takes a lot of time and causes you some stress.


                                                             What could it do for me?
     Key ClIeNT BeNeFIT:                                     Manulife One could simplify your finances by addressing
                                                             most of your banking needs within a single account. You
     By bringing together various banking needs
                                                             can spend less time managing your day-to-day finances
     within a single account, Manulife One can
                                                             and more time on things you’d rather be doing.
     significantly simplify clients’ day-to-day finances
     and reduce stress associated with managing
     savings and debt.                                       Getting agreement to the referral process
                                                             There’s a lot more I’d like to tell you about Manulife One;
                                                             however, due to Mortgage Broker regulations, I can’t
                                                             get into too much detail. I think Manulife One is a great
Introducing the topic
                                                             account for homeowners like you, who could benefit
Trying to juggle multiple loans and savings accounts takes   from more simplified day-to-day finances.
time and energy. And, it can be stressful making sure that
                                                             Manulife Bank has a local representative in the area,
one account or another has enough money to cover a
                                                             <name>, who’s an expert on Manulife One and could
cheque or preauthorized bill payment. It doesn’t have to
                                                             provide you with more information on the product and
be this difficult.
                                                             answer any questions you might have. I’ve had a number
I’d like to show you a way to simplify your finances         of clients work with him/her and everyone has told me
so that you don’t need to spend a lot of time tracking       he/she’s great to work with.
multiple accounts.
                                                             There’s no obligation, but if you decide you’d like to
                                                             proceed, he/she can take your application and help you
                                                             get up and running. Can I ask him/her to give you a call
                                                             to set up an appointment?




32
Cash flow optimization opportunities
6. Has or expects to have borrowing needs

                                                           Why are we talking about this?
    ClIeNT PROFIle:
                                                           Debt management is a key part of any financial plan, and
    Homeowners who either have an immediate                I’d like to help ensure that you have the flexibility you
    need	to	borrow	(for	example,	car	purchase,	            need to address your borrowing needs conveniently and
    home	renovation)	or	expect	a	need	will	arise	in	       efficiently.
    the next year or two.

                                                           What could it do for me?
                                                           Manulife One could help you more easily manage your
    Key ClIeNT BeNeFIT:                                    debt without the stress and inconvenience of applying
                                                           for a new loan each time you need to borrow. Once you
    With a Manulife One account in place, clients          have a Manulife One account, you determine when and
    can enjoy cost-effective, convenient borrowing         how much to borrow, as long as you remain below your
    and may never have to apply for another loan.          borrowing limit. In fact, once you have a Manulife One
                                                           account, you may never need to apply for a loan again.


                                                           Getting agreement to the referral process
Introducing the topic
                                                           There’s a lot more I’d like to tell you about Manulife One;
Most people have a need to borrow a larger amount at       however, due to Mortgage Broker regulations, I can’t
one time or another for things such as a car purchase or   get into too much detail. I think Manulife One could
home renovation. Typically, they do one of two things.     simplify your debt management by providing you with a
They may put it on a credit card, which often ends up      convenient, cost-effective way to borrow, today and in
costing them a lot of interest. Or they may apply for a    the future.
loan, which involves going to a bank, filling out forms
                                                           Manulife Bank has a local representative in the area,
and negotiating a rate. There is a third, smarter option
                                                           <name>, who’s an expert on Manulife One and could
that I recommend to my clients who have built equity in
                                                           provide you with more information on the product and
their homes – Manulife One.
                                                           answer any questions you might have. He/she can also
                                                           run an illustration that will give you an idea of what
                                                           withdrawal amount could be sustainable given the
                                                           amount of time you’d like to stay in your home. I’ve had
                                                           a number of clients work with him/her and everyone has
                                                           told me he/she’s great to work with.

                                                           There’s no obligation, but if you decide you’d like to
                                                           proceed, he/she can take your application and help you
                                                           get up and running. Can I ask him/her to give you a call
                                                           to set up an appointment?




                                                                                                                       33
Cash flow protection opportunities
7. Additional income or back-up plan in retirement

                                                                        Introducing the topic
     ClIeNT PROFIle:
                                                                        Based on what you’ve saved for retirement, you may
     Homeowners who are in or approaching                               have difficulty achieving your retirement income goal.
     retirement. These clients are either temporarily                   Sometimes clients in your situation are called “house
     or permanently unable to generate sufficient                       rich” and “asset poor,” meaning that a significant
     retirement income to meet their needs, but they                    portion of your wealth is locked in your home equity. In
     have significant home equity which could be                        this situation, it may make sense to look at your home
     used to supplement their retirement income.                        as a financial asset rather than just a place to live. I’d
                                                                        like to talk to you about a strategy for supplementing
                                                                        your retirement income by accessing some of your home
                                                                        equity.
     Key ClIeNT BeNeFIT:
     Clients with significant home equity and                           Why are we talking about this?
     insufficient retirement savings can supplement                     One of my jobs as your advisor is to help you create
     their retirement income with withdrawals from                      a plan that will generate sufficient income for your
     their Manulife One account.                                        retirement. It’s important to me not only that you have
                                                                        enough income to pay for your expenses, but that
                                                                        you have enough that you don’t need to worry about
                                                                        whether you’ll have enough each month. Your home is
Important note: With Manulife One, client withdrawals cannot exceed
the maximum approved borrowing limit and they must pay any accrued      one of your largest assets, so it may make sense for you
interest and fees which would increase the total debt beyond the        to make a small monthly withdrawal from your home
borrowing limit. This differs from a Reverse Mortgage, where a client
may not be required to make deposits into the account.                  equity using a Manulife One account.


                                                                        What could it do for me?
                                                                        Manulife One can help you access your home equity,
                                                                        up to your borrowing limit, to supplement your
                                                                        retirement income. With Manulife One, you’re only
                                                                        charged interest on the amount you’ve borrowed and,
                                                                        as long as you don’t lock any of your debt in at a fixed
                                                                        rate, you’re free to repay the debt at any time without
                                                                        penalty. It’s important to choose a withdrawal amount
                                                                        that’s sustainable so you don’t reach your borrowing
                                                                        limit before you’re ready to sell your home because,
                                                                        with Manulife One, you aren’t allowed to exceed your
                                                                        borrowing limit and you’d need to pay any interest costs
                                                                        that would put you over that limit.




34
Getting agreement to the referral process
There’s a lot more I’d like to tell you about Manulife One;
however, due to Mortgage Broker regulations, I can’t
get into too much detail. I think Manulife One could
help improve your retirement income by allowing you to
access your home equity.

Manulife Bank has a local representative in the area,
<name>, who’s an expert on Manulife One and could
provide you with more information on the product and
answer any questions you might have. He/she can also
run an illustration that will give you an idea of what
withdrawal amount could be sustainable given the
amount of time you’d like to stay in your home. I’ve had
a number of clients work with him/her and everyone has
told me he/she’s great to work with.

There’s no obligation, but if you decide you’d like to
proceed, he/she can take your application and help you
get up and running. Can I ask him/her to give you a call
to set up an appointment?




                                                              35
Special situations
8. Need funding for a borrow-to-invest strategy

                                                         Introducing the topic
     ClIeNT PROFIle:
                                                         Now that we’ve determined a “borrowing-to-invest”
     Homeowners who have built significant               strategy is right for you, I’d like to talk about a funding
     home equity, have a high risk tolerance, a          strategy. Because you have significant equity in your
     strong understanding of the risks involved in       home, you may wish to consider accessing that equity for
     investment leverage and a desire to borrow to       this strategy with a Manulife One account.
     invest.
                                                         Why are we talking about this?
                                                         As your advisor, my job is not only to recommend the
                                                         best strategies for your unique situation, but to help you
     Key ClIeNT BeNeFIT:
                                                         find the best tools for implementing those strategies.
     By using Manulife One to facilitate their
     investment leverage strategy, clients may be able
                                                         What could it do for me?
     to realize certain benefits not available from
     traditional investment loans.                       Manulife One may offer a number of advantages over
                                                         some traditional investment loan products. For example:

                                                         •	 It	features	a	competitive	variable	interest	rate.
                                                         •	 There	are	no	margin	calls	related	to	the	value	of	the	
                                                            investment.
                                                         •	 It	allows	you	to	choose	fixed	rates,	variable	rates	or	a	
                                                            combination of both.
                                                         •	 There	are	no	restrictions	on	where	you	invest	–	which	
                                                            gives us more flexibility to choose a portfolio that’s
                                                            right for you.
                                                         •	 If	you	decide	to	stop	leveraging	for	a	while	and	then	
                                                            re-start at a later date, you can do so without having
                                                            to re-apply for a loan.
                                                         •	 It’s	an	all-in-one	account	that	can	also	serve	to	
                                                            simplify your day-to-day finances by addressing
                                                            many of your common banking needs. In fact, your
                                                            investment loan could be just one of many ways that
                                                            you use the account.

                                                         Along with these advantages, I also want to ensure you
                                                         understand that a Manulife One account is secured by
                                                         your home and replaces your current mortgage. This
                                                         differs from a traditional investment loan, which is
                                                         secured by the investments you purchase. In other words,
                                                         defaulting on a Manulife One account could potentially
                                                         put your home at risk.


36
Getting agreement to the referral process                     Important notes:
                                                              1. Borrowing to invest may not be appropriate for everyone. Your
There’s a lot more I’d like to tell you about Manulife One;      clients should be fully aware of the risks and benefits associated with
                                                                 leveraged borrowing since losses as well as gains may be magnified.
however, due to Mortgage Broker regulations, I can’t             Preferred candidates are those willing to invest for the long term
                                                                 and not averse to increased risk. Clients should be aware that this
get into too much detail. I think that in your situation,        strategy may have a higher risk as their home is offered as security
Manulife One could be an effective product to implement          for the loan and clients will be required to make payments regardless
                                                                 of the performance of their investment. The value of your client’s
your investment leverage strategy.                               investment will vary and is not guaranteed; however, they must meet
                                                                 their loan and income tax obligations. Manulife Bank of Canada
Manulife Bank has a local representative in the area,            solely acts in the capacity of lender and loan administrator and
                                                                 does not provide investment advice of any nature to individuals or
<name>, who’s an expert on Manulife One and could                advisors. The dealer and advisor are responsible for determining the
                                                                 appropriateness of investments for their clients and informing them
provide you with more information on the product and             of the risks associated with borrowing to invest.
answer any questions you might have. I’ve had a number        2. Tax-deductibility of loan interest depends on a number of factors,
of clients work with him/her and everyone has told me            with the Income Tax Act providing the framework for determining
                                                                 tax-deductibility. Readers should consult their own tax and legal
he/she’s great to work with.                                     advisors with respect to their particular circumstance.

There’s no obligation, but if you decide you’d like to
proceed, he/she can take your application and help you
get up and running. Can I ask him/her to give you a call
to set up an appointment?




                                                                                                                                      37
Special situations
9. Has a rental property

                                                            Introducing the topic
     ClIeNT PROFIle:
                                                            Owning an investment property can be an effective
     Clients who own a qualifying investment                way to build wealth over the long term. However, some
     property in an eligible community.1 Qualifying         people with investment properties find that it can be a
     investment properties include residentially zoned      lot of work tracking expenses and income related to the
     and utilized rental units up to four units. For        property. In addition, it can sometimes be difficult finding
     two-, three- or four-unit buildings, one unit          money for improvements or renovations. I’d like to talk
     must be occupied by the client. Multi-unit, non-       to you today about a product that could make it easier to
     owner occupied buildings will be considered if         manage the financial aspects of your investment property
     default insurance is purchased by the client.          and also provide you with convenient access to funds you
                                                            may need to maintain the property – Manulife One.


     Key ClIeNT BeNeFIT:                                    Why are we talking about this?
     Manulife One allows clients to track expenses          My job is to help you find the best tools available to help
     associated with an investment property within          you achieve your financial goals. Building wealth isn’t
     a single account and easily access additional          only about accumulating assets. It’s also about managing
     funds for property improvements or to purchase         those assets efficiently in a way that’s cost-effective and
     additional investment properties. It could also        hassle-free. This makes it easier to grow those assets and
     help clients repay their debt faster by having their   have more time for the things you’d rather be doing.
     rental income flow directly into the account.

                                                            Note: Clients may be eligible to borrow up to 65% of the appraised
                                                            value of the property, or up to 80% if they choose to purchase mortgage
                                                            default insurance. Maximum loan amounts vary by location and building
                                                            type. Your local Banking Consultant can provide details.




38
What could it do for me?                                      an investment property and provide you with a convenient
                                                              source of funds for repairs and renovations.
Manulife One could simplify the management of
your property and could even help you own it sooner.          Manulife Bank has a local representative in the area,
Manulife One is an all-in-one account that would be           <name>, who’s an expert on Manulife One and could
secured by the value of your property. You could pay          provide you with more information on the product and
your investment property-related expenses from the            answer any questions you might have. I’ve had a number
account, and then have your rental income flow into the       of clients work with him/her and everyone has told me he/
account so everything is tracked and reported within a        she’s great to work with.
single account. This could make things easier at tax time.
                                                              There’s no obligation, but if you decide you’d like to
Plus, because it gives you access to the equity you’ve
                                                              proceed, he/she can take your application and help you get
built in the property, you could use this as a source of
                                                              up and running. Can I ask him/her to give you a call to set
funds if you need to make repairs or even if you need
                                                              up an appointment?
a down payment for another investment property.
Owning an investment property is a great first step in
building wealth. The next step could be making use of
an innovative product such as Manulife One to help you
manage the property more easily and efficiently.


Getting agreement to the referral process
There’s a lot more I’d like to tell you about Manulife One;
however, due to Mortgage Broker regulations I can’t get
into too much detail. I think Manulife One could make it
                                                              1. For a list of eligible cities, visit manulifeone.ca or speak to your local
easier for you to manage the financial aspects of owning          Manulife Bank representative.




                                                                                                                                         39
Addressing objections
1. The numbers seem too good to be true.                        3. I’m locked into my current mortgage.
     The numbers do seem very attractive, but there’s             That’s not a problem – in fact you have a few options
     nothing magical going on here – it’s just basic math.        for getting into a Manulife One account that your
     If anything, it’s simply an indication that your current     Banking Consultant will go over with you.
     method of banking is very inefficient. The numbers           a. Second position. If you have sufficient equity
     are driven by three factors:                                    in your home, you could open Manulife One as
     a. Consolidation of debt. The calculations assume               a second position account. This will allow you to
        that all of your current debts are consolidated              get all of your banking set up and you could even
        within the Manulife One account and are being                use the line of credit to make prepayments on
        charged the Manulife One Base Rate.                          your current mortgage. Then, when your current
     b. efficient use of savings. Your short-term savings            mortgage matures, you can move your Manulife
        are used to immediately pay down your debt –                 One into a first position account.
        which reduces your interest costs. This is a much         b. Pay the penalty. Depending on how large the
        more efficient use of your money since you’ll likely         penalty is for breaking your current mortgage, you
        save far more in interest than you’d earn in a               may actually be better off financially to pay the
        savings account.                                             penalty and start saving with Manulife One.
     c. Use of excess income. Because Manulife One                c. Wait. If the penalty is simply too large, let’s make
        acts as your everyday account, you can have your             an appointment to meet again a few months
        income automatically deposited. Whatever is left             before your mortgage matures. At that time I can
        over	at	the	end	of	the	month	(your	income	less	              refer you to the Banking Consultant and you can
        your	expenses)	automatically	reduces	your	debt,	             make the switch.
        saving you interest.

                                                                4. I’m debt-free and I don’t want to put a
2. This sounds too complicated.                                    mortgage on my property.
     This can seem complicated at first, since, as                a. If using as a back-up plan: Although Manulife
     Canadians, we’ve been taught from an early age                  One is a mortgage, it doesn’t necessarily mean
     to separate our finances into many different pieces.            you’ll be taking on debt. If you don’t have a need
     When you think about it, shuffling money among                  to borrow, you won’t incur any interest costs. But,
     various accounts and trying to keep track of a number           by having Manulife One in place, you’ll have the
     of different debts at different rates can be quite              security of knowing that you can access a large
     complex. Manulife One represents a much simpler                 line of credit if you encounter an unexpected
     way to manage your money because everything is in               expense.
     one place – all of your money is working to reduce           b. If planning to access equity. Your home is one
     a single debt. To be honest, it took me a bit of time           of your largest assets and in your situation it may
     to get my head around this as well – since it was so            make sense to access your home equity to address
     different from what I had been taught. Now that I               your financial need. Because Manulife One is
     understand what it can do – I can’t imagine banking             secured by your home, you’ll likely end up paying
     any other way.                                                  less interest than if you had to borrow through an
                                                                     unsecured loan product.




40
5. I don’t like the $14 monthly fee ($7 for                 7. I’m concerned I won’t be able to handle
   seniors).                                                   a large line of credit.
  a. All banks need to make money. I understand               This is a common concern and it’s true that you need
     why you’re concerned about the fee, but I actually       to be able to control your spending with this account.
     see it as a good thing because it means that             There are a couple of things that may help to put your
     Manulife Bank is not trying to hide what they’re         mind at ease. First, you likely already have access to
     charging you. All banks need to make money               credit through one or more credit cards. Do you find
     – but often how they do so is hidden from us             that you’re always spending up to your limit on your
     through uncompetitive rates, inefficient banking         credit cards? If not, you probably won’t do so with
     products or transaction fees that seem small but         Manulife One either. Second, your monthly statement
     quickly add up. The fee covers unlimited regular         has a great graph that shows you how you’re
     transactions, so you don’t need to worry about           progressing with your debt repayment. You’ll be able
     small fees adding up to a big number.                    to see fairly quickly if you’re spending too much and
  b. Be careful you’re not stepping over a dollar             adjust your behaviour accordingly.
     to pick up a dime. With Manulife One, you get
     an account that makes all of your money work
     efficiently – which in most cases will save you
     much	more	than	$14	per	month.	Manulife	One	
     provides you with tremendous flexibility and
     savings potential and, for a relatively low cost per
     month, you also get unlimited regular transactions.


6. I can get a better rate with a variable-
   rate fixed-term mortgage.
  While I can’t compare different types of mortgages
  for	you	(due	to	Mortgage	Broker	legislation),	keep	
  in mind that, when it comes to debt management,
  flexibility can be just as important if not more
  important than interest rate. It may cost you less in
  the long run to pay a bit more interest today, but
  have the ability to reduce your principal more quickly.
  Also with debt management, it’s important to have
  the flexibility to increase or decrease payments, since
  you never know when your financial circumstances
  will change.




                                                                                                                       41
5.

Marketing and
compliance




42
Regulatory overview
Manulife One and Preferred Rate Mortgage are mortgage products and their distribution is regulated by
the	various	Provincial	Mortgage	Brokers’	Acts	(the	Acts).		While	each	Provincial	Act	is	slightly	different;	in	
general, the Acts state that to sell mortgage products you must either:

1. Have a Mortgage Brokers’ license, or
2. Be an employee of an approved lender, such as a Bank.

Individuals who do not fit into one of these two groups are not allowed to take part in “Mortgage
Brokering” activities, examples of which include:
•	 Advertising	mortgage	products
•	 Soliciting	mortgage	business	from	the	general	public
•	 Describing	mortgage	products	in	detail
•	 Comparing	mortgage	products
•	 Taking	a	mortgage	application

Because of these restrictions, the distribution model for Manulife One and Preferred Rate Mortgage involves
the advisor introducing the product and then making a referral to a Manulife Bank Banking Consultant,
who is an employee of Manulife Bank and exempt under the Acts. Banking Consultants are Manulife One
experts and are, therefore, able to describe the product in detail, answer questions, provide illustrations and
manage the application process from start to finish.


MFDA and IIROC licensed advisors
Advisors who are licensed with MFDA or IIROC dealers should check with their dealers for guidance with
regards to all mortgage referral activities as the dealer is responsible for supervising and approving all
business activities conducted by their advisors. Because of this requirement, all Manulife Bank mortgage
referral business must flow through the dealer.

Most dealers require a formal Client Referral Form to be completed at the time the referral is made. Please
contact your dealer for a copy of the referral form and instructions on what to do with the completed
document.

For MFDA and IIROC licensed advisors to refer Manulife One or Preferred Rate Mortgage, your dealer must
have a referral agreement with Manulife Bank. Your Banking Consultant can tell you if a referral agreement
exists. If there is no referral agreement, your Banking Consultant can help to initiate contact between your
dealer and Manulife Bank to establish a referral agreement.




Advisor activity guidelines
The success of Manulife One1 and our distribution model is predicated on full compliance with the
Mortgage Brokers’ Acts. As such, we will not accept referrals from advisors whose activities contravene the
applicable Provincial Act and/or who do not immediately cease the non-compliant behaviour.




                                                                                                                  43
In general, advisor activities should be limited to:                                   com/repsource.		(Brochures	can’t	be	personalized	in	
                                                                                       any	way).
1. Discussing debt and cash flow management with an
                                                                                   4. In-office display. A brochure holder or desktop
     existing client, in the context of a broader financial
                                                                                       display can be used, provided that it is placed in an
     plan.
                                                                                       area not generally accessible to the public.
2. Introducing the concept of Manulife One as a
                                                                                   5. Client mailing or emailing to existing clients.
     potential component of a broader financial plan.
                                                                                       Advisors can send a letter or email to existing clients,
3. Asking the client if they’ll agree to be referred to a
                                                                                       subject to the general guidelines above. Approved
     Banking Consultant.
                                                                                       content for letters and emails is available in the
4. Referring the client to a Banking Consultant.
                                                                                       Manulife One section at manulife.com/repsource.
                                                                                       Approved brochures can be included with the mailing;
Examples of approved activities                                                        however,	they	can’t	be	customized	(for	example,	you	
                                                                                       can’t	print	your	name	on	a	brochure)	and	they	can’t	
In addition to the general guidelines above, the following
                                                                                       be stapled or attached to the letter.
are some ways to introduce your existing clients to
Manulife One2.

1. Face-to-face or telephone discussion. In general,
                                                                                   Examples of prohibited activities
     the discussion should focus on debt and cash flow                             The following are examples of activities that would
     management. Manulife One can be introduced and                                contravene Mortgage Broker legislation. Note that this
     described at a high level in the context of the broader                       isn’t a comprehensive listing, but rather a sample of
     financial plan.                                                               activities most commonly asked about.
2. Client seminar led by Banking Consultant. While
                                                                                   In many cases, whether or not an activity is permitted can
     advisors can’t conduct Manulife One seminars,
                                                                                   be determined by answering the question: “Is the goal
     Banking Consultants can conduct Manulife One
                                                                                   of an activity to generate Manulife One business from
     seminars on behalf of one or more advisors. There are
                                                                                   people who are not already my clients?” If the answer
     a couple of restrictions to note with regards to these
                                                                                   to the question is “yes,” then the activity is likely not
     seminars:
                                                                                   permitted.
     a. Only an advisor’s existing clients can attend. This
        means that the seminars can’t be advertised to                             1. Advertising. This includes any kind of public
        the general public and clients can’t be asked to                               solicitation, such as print and radio ads, store-front
        bring a friend. Advisors’ clients are defined as                               advertisements, participation in trade shows and mass
        those with whom the advisor has an existing                                    mailings.
        advisor-client relationship. Employees of a “group”                        2. electronic references (website, Facebook, Twitter
        client	(for	example,	a	Group	Benefits	client)	are	                             etc.). Because websites are accessible to the general
        not considered to be clients of the advisor for the                            public, specific Manulife One or mortgage content
        purpose of the seminar.                                                        isn’t allowed. This includes using the Manulife One
     b. Seminars can only contain content on Manulife                                  logo, describing Manulife One or naming Manulife
        Bank or Manulife Financial products.                                           One as a product being offered. Two exceptions are:
3. Provide approved brochures to clients. In most                                      a. Link to manulifeone.ca. You can create a hotlink
     cases, advisors can provide their clients with a copy                                 from your website to manulifeone.ca from generic
     of an approved Manulife One brochure. Approved                                        debt, banking or cash flow-related text, such as:
     brochures can be viewed and ordered at manulife.                              	   	 •	 Tired	of	traditional	banking?	I	am	authorized	to	


1. Note that, while Manulife One is referenced throughout this section, all comments apply equally to Preferred Rate Mortgage.
2. MFDA and IIROC licensed advisors should check with their dealers for guidance prior to engaging in the activities described.


44
         refer you to a product that can help you take        of obtaining bank products to promote or sell insurance-
         control of your daily finances.                      related products to their clients, such as life insurance,
	   	 •	 Looking	to	improve	your	finances?	I	can	refer	       disability insurance, segregated fund contracts and
         you to a new way of banking.                         annuities.
	   	 •	 Referral	Product:	Manulife	Bank	offers	an	
                                                              What this means is, if you gather client information to
         account that could save you thousands. I am
                                                              help	a	client	secure	a	loan	(or	any	bank	product),	you	
         authorized to refer you if you’re interested.
                                                              can’t go directly to a life insurance-related product sale
    b. Your Banking Consultant can be listed on your site
                                                              without first doing a planning review. In that review, you
       as	a	“Contact”	or	“Resource”	(not	as	“partner,”	
                                                              have to ask the client for the information as if you didn’t
       “team member” or “affiliate,” which may imply
                                                              know it. If the client won’t give you the same information
       a	broader	or	more	formalized	relationship).	For	
                                                              during the planning review, you can’t use it for the
       example:
                                                              insurance sale.
       Contacts
	   	 •	 Joe	Smith,	Banking	Consultant,	Manulife	Bank	        Because you need to be able to prove that you have
         of Canada                                            not used any bank product information for insurance
3. Articles, blogs, talk-shows. Because you’re in             purposes, we advise you to maintain separate files
    a position to receive compensation for referring          for your insurance information and for your banking
    mortgage business, discussing Manulife One                information for each client.
    specifically or mortgages in general in a public forum
    would be considered mortgage solicitation activity.
4. Use of the Manulife One calculator. A key
                                                              Privacy and confidentiality
    function of the Manulife One calculator is to compare     If you have a contract with us, follow the Privacy and
    Manulife One to other mortgage products. Because          Confidentiality Policy to which you agreed when you
    comparing mortgage products is defined as a               signed the Manulife Financial contract. If you require a
    mortgage brokering activity, advisors can’t use the       copy of the policy, contact your Regional Compliance
    calculator with or on behalf of clients. Instead, ask     Officer or the Manulife Bank Compliance Officer at
    clients to complete the calculator on their own or ask    1-877-765-2265.
    your Banking Consultant to produce an illustration for
                                                              If you have a mutual funds or securities license in addition
    your client.
                                                              to a life insurance license, then your dealer needs to have
5. Public seminars. As noted in the previous section,
                                                              signed a referral agreement with us. In that agreement,
    a Banking Consultant can conduct a closed-door
                                                              we require that any referring agent agrees to comply
    seminar for your existing clients; however, the seminar
                                                              with	Manulife	Financial’s	Producer	Code	of	Conduct	(the	
    can’t be open to the general public or “friends and
                                                              “Code”)	or	the	dealer’s	own	similar	code	of	conduct,	if	
    family” of clients.
                                                              it is comparable to Manulife’s. The most recent version
                                                              of the Code may be obtained on Manulife Financial’s
Use of client information                                     advisor website, Repsource, or by contacting the Bank.
                                                              We encourage you to take a few moments to familiarize
The appropriate use of client information is an important
                                                              yourself with its objectives and expectations.
issue at Manulife Bank. We adhere to all legislation that
outlines how it is to be collected, used and stored. Under
current	legislation	(Insurance	Business	Regulations	under	
The Bank Act),	advisors	are	not	allowed	to	use	client	
information that was gathered for the express purpose




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6.

Working with
Manulife Bank




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Getting started with Manulife One

1. Contact your local Banking Consultant
To find your local Banking Consultant, call our advisor support line at 1-800-567-9170 from 8:00 am to
8:00 pm local time, Monday to Friday or visit manulifeone.ca.

Your Banking Consultant can:

•	 Answer	any	questions	you	have.
•	 Give	you	helpful	suggestions	for	introducing	clients	to	Manulife	One	and	integrating	this	innovative	
   financial solution into your practice.
•	 If	you’re	MFDA	or	IIROC	licensed,	let	you	know	if	your	dealer	has	a	referral	agreement	set	up	with	
   Manulife Bank. If not, they can help get the ball rolling.


2. Check with your dealer
If you’re MFDA or IIROC licensed, check with your dealer for any special instructions or restrictions related
to mortgage referrals. Also, ask your dealer if they have a customized referral form or process that you
should be using.


3. Talk to your clients
When talking to clients about their financial goals, remember to talk about debt and cash flow
management. As you can see from this guide, there are many client needs that can be met with Manulife
One. If you have a good understanding of their debt and cash flow situation, you’ll be able to introduce
Manulife One in a way that resonates with your clients and allows them to see how it applies to their
unique situation.


Accessing client information
You’re able to access clients’ Manulife One balance information1 in a couple of ways:


BankLink
BankLink2 is Manulife Bank’s online portal for advisors. BankLink allows you to submit applications for certain
non-mortgage	products	(such	as	Advantage	Account	and	Quick	Loans)	and	also	allows	you	to	view	client	
balances for Manulife One. To access BankLink, login at manulife.com/repsource and click on “BankLink.”


Advisor Support Centre
You can also call our advisor support line at 1-800-567-9170 from 8:00 am to 8:00 pm local time,
Monday to Friday to access client information.




1. Due to privacy regulations, we can’t provide transaction information to advisors.
2. While most advisors will be able to access client information through BankLink, there are some advisors who may not currently be
   able to do so.


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Manulife, Manulife Bank, the Manulife Bank For Your Future logo and the Block Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates, under license.
WM1021E (01/2011)

                                                                              FOR MORe INFORMATION, PleASe VISIT MANUlIFeBANK.CA




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