name, designation title, company name date 2013 rrsp loan program edward jones
TRANSCRIPT
Name, DESIGNATIONTitle, Company NameDate
2013 RRSP Loan ProgramEdward Jones
Agenda
RRSP Loan details
Before you begin
Selecting a sales process
BankLink— Launching BankLink
— Your BankLink dashboard
— Completing the loan application
— Tracking your loans
— Application tips
— Obtaining support
RRSP Loan details
Interest rate: Manulife Bank Prime Rate + 0.50%*
Loan term: Loan terms of 12 months
No penalty for early repayment
Minimum loan: $1,000
Maximum loan: $23,000
Application Fees: None
Underwriting: Underwriting consists of a credit review. In certain cases, Manulife Bank may require additional information and may contact your client directly.
Investment options: Any investment available on the Edward Jones self-directed RRSP platform. For off-book accounts, Manulife segregated funds and fixed annuities.
Payment options: Regular option: Equal payments made over 12 consecutive months
90-day deferred payment option: Equal payments made over 9 consecutive months Interest begins to accrue when loan is advanced
*As at October 1, 2012 Manulife Bank’s Prime Rate is 3.00% and the Annual Percentage Rate (APR) is 3.50%. The APR is based on a one-year term with 12 regular monthly payments. Rates are variable and subject to change.
Before you begin
Manulife Bank RRSP Loan applications must be submitted online using BankLink.
Ensure you have a current Repsource ID and password at manulife.ca/repsource
Ensure you have version 7 or higher of the Acrobat® Reader® software
Ensure your computer is connected to a printer
Acrobat and Reader are registered trademarks of Adobe Systems Incorporated in the United States and/or other countries.
Selecting a sales process
Sale made in your office (recommended) Complete the online application with your client
Have them sign the loan documents all in one meeting
It should take you about 10 minutes to complete the online application
Sale made away from office after prior discussion with client Confirm with your client over the phone that they would like to proceed with an
application
Start the online application and bring system-generated forms to your client meeting for signatures
Upon your return to the office, complete the online application
Sale made away from office without prior discussion with client Complete the Client Authorization Form (AB0404E) during client meeting
Upon return to the office, complete the online application
BankLink is our online application and client information tool.
Easier than ever to provide your clients with an RRSP Loan
Guides you step-by-step through the application process
Pre-populates client’s information
Request a pre-approval
Save and close the application and return to complete it later
Provides a customized instruction sheet and loan documents
Track the status of your loans on the BankLink homepage
Launching BankLink
Login to Repsource here
Click here if you don’t have a Repsource ID
Login to Repsource at manulife.ca/rrsploan
Launching BankLink
Application instructions are available on the BankLink welcome page.
Application instructions
Launching BankLink
Select “Start” on the welcome page
Click “Start” button
Your BankLink dashboard
Homepage displays the status of all your loan applications
Completing the loan application
To start a new application, select “Apply for a product” from the “My Options” menu
Click here to begin an application
Completing the loan applicationPick your appropriate advisor code
Search to see if we already have information about your client
Select your advisor code
Search by client name or SIN
Dealer-rep codes should not be used on BankLink PERIOD
Completing the loan application
Choose a new or existing client and select a product
Begin an application for an existing client
Begin an application for a new client
Completing the loan application
Completing the loan application
Complete the applicant information (for new clients)
Mandatory fields in yellow
Completing the loan application
Summary of your progress through the application
Complete the disclosure information
Completing the loan application
Request a pre-approval (optional)
Click here to request pre-approval
Pre-approval status appears in the
information bar
Completing the loan application
Complete the income information
Click here to exit an application
Click here to save an application
Investment options – Edward Jones
Complete the investment information based on options for Edward Jones advisors
Investment options – completing the screen
Complete the investment information based on options for all other advisors
Enter Edward Jones 10 digit account number here. Do not
select ‘New Investment’
Completing the loan application
View the sample cheque if you’re not sure which numbers go where
Complete the payment information
Payment terms
Edward Jones – 12 month terms only!
Completing the loan application
Select “submit” to complete the loan application
You must click “Submit”, even if you’ve already requested pre-
approval
Status of the loan application
Completing the loan application
Print the loan documents, obtain client signature and fax to Manulife Bank.
Click here to open a window with the loan documents
Print now or save a copy to print later
Tracking your loans
You can track the status of your loans on the dashboard
View the status of your loans
Application tips
You must select the “submit” button to complete the application process
— Even if you’ve previously requested a pre-approval
RRSP loan documents should be faxed to Manulife Bank — No need to forward originals
— Do not fax and mail the documents (this may result in two loans being funded)
For your own personal loan application— Have another advisor or licensed marketing assistant sign the
Representative assertions section
Obtaining Support
Click here for support
If you require assistance with the application, click on “Need Help?”
Important Notes
Borrowing to invest in an RRSP may not be appropriate for everyone. Your clients will need the financial means to meet their loan obligations. In addition, investments held in an RRSP may fluctuate in value. Your clients should be aware that, regardless of their RRSP’s performance or value of any investments held in their RRSP, they will be required to meet their loan obligations in full. Please ensure clients read the terms of their loan agreement and the investment details for important information. Manulife Bank of Canada solely acts in the capacity of lender and loan administrator and does not provide investment advice of any nature to individuals or advisors. The dealer and advisor are responsible for determining the appropriateness of investments for their clients and informing them of the risks associated with borrowing to invest.
RRSP Loans are offered through Manulife Bank of Canada.
Manulife, Manulife Bank, the Manulife Bank For Your Future logo, the Block Design, the Four Cubes Design, and Strong Reliable Trustworthy Forward-thinking are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
Thank you