ScotiaMcLeod-Manulife Alliance

Manulife Financial

We are pleased to announce that ScotiaMcLeod* has signed an agreement with Manulife Financial to offer Manulife group savings products to ScotiaMcLeod plan sponsors. This means that in addition to ScotiaMcLeod's industry-leading "self-directed" plan structure, we can offer group plan sponsors a simpler second plan structure, which may be more appropriate in some cases.

This unique alliance is effective March 1, 2003. This will provide our plan sponsors with the ability to select an alternative group product offering to meet specific plan needs. We have already seen some very successful plans where both ScotiaMcLeod and Manulife are offered in parallel.

The specific Manulife products include group RRSPs, defined contribution pension plans, deferred profit sharing plans, non-registered savings plans, investment service only contracts, and share ownership plans.

As one of Canada's premier insurance companies, Manulife is a well recognized name in the Canadian marketplace. Additionally, they have a significant presence in the group market and continue to invest in their products and service. For ScotiaMcLeod, this increases the depth of group products we can offer to our corporate clients, and can help to match your member's needs with the best plan structures available.

Please contact your ScotiaMcLeod Wealth Advisor to discuss how the Manulife plan offered through ScotiaMcLeod may benefit your members.

*Offered through ScotiaMcLeod Financial Services Inc.


ScotiaMcLeod/Manulife Comparison

Each plan has its own strengths. For corporations, we have found that offering both plans in parallel, ensures that every kind of unique employee investment need can be well served.

Carrier
ScotiaMcLeod
Manulife Financial
Payroll Deduction Plan Type Self-Directed RRSP Account Self-Service RRSP Account
Fund Choices
Click to view ScotiaMcLeod investment choices

Over 3,500 load funds and 200 no-load funds from all major managers.
Click to view Manulife investment choices

Over 80 funds available with no-loads and many brand name managers.
Fund Minimum Investment Minimum of $50 per fund selection recommended No minimum
Fund Switches No fee to switch funds for low-load plans. No fee to switch funds within fund families for other plans. No fee to switch funds
Default Investment Uninvested cash, if no investment chosen  
Guaranteed Investment Certificates Lump sum GIC purchases offered from 20 issuers, minimum $1000 Payroll GICs for as little as $25
Special Feature Company shares, individual stocks, ETFs, bonds... Lifecycle asset allocation funds
Manulife Steps Retirement Planning Program
Stock & ETF Trading Any listed stock or ETF - minimum commission $175 Individual stocks and ETFs not available
Investment Changes Via phone consultation with an advisor Via internet, phone/IVR, fax
Internet Access View account online Manage account online
Account Statements Monthly statements Semi-annual statements
Application Form Covers all "know your client" regulatory requirements One page/online application
Investment Advice Security specific investment advice and financial planning from ScotiaMcLeod Financial planning commentary from ScotiaMcLeod.
Fund information from Manulife.
Transfer out fees $50 to $159 per transfer out request One free transfer out per year, subsequent transfers $25 per request
Transfers between ScotiaMcLeod & Manulife $0 to transfer to Manulife. $0 to transfer to ScotiaMcLeod.
Transfers in Most mutual funds can be transferred "in kind" (ie. tax free). Most mutual funds can be transferred tax free and then reinvested into Manulife funds.
Best for Larger accounts & sophisticated investors Simpler accounts: Easier to set up and use

Both plans offer the source tax deductions and dollar cost averaging advantages of payroll contributions. We are pleased to advise on the best account for each situation.

Please contact your ScotiaMcLeod Wealth Advisor directly for more information or for investment advice tailored to your personal situation.

The Manulife Group RRSP is offered through ScotiaMcLeod Financial Services Inc.



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