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This Mission: Impossible 5 Trailer Is As Ridiculous As It Needs To Be
Mission: Impossible - Rogue Nation, a.k.a. Tom Cruise's excuse to feel again, has released a big, bombastic trailer. And excuse me, but is that a GUN FLUTE? »
Mission: Impossible - Rogue Nation, a.k.a. Tom Cruise's excuse to feel again, has released a big, bombastic trailer. And excuse me, but is that a GUN FLUTE? » 3/23/15 10:15am 3/23/15 10:15am
Callin' it: the official trendy word to include in your franchise entry is ROGUE. Because hot on the heels of the Rogue One announcement, we have news that the next Mission: Impossible flick is titled Mission: Impossible Rogue Nation. Lots of fists/motorcycles/Pegg in the teaser trailer below. » 3/22/15 10:15am 3/22/15 10:15am
In other news, the Highlander reboot also wants a major star for the role of Connor MacLeod, world peace, and a pretty pony. I'm not sure any of these things are going to happen, as the movie has languished in limbo for years and the current director is the second unit guy from Snow White and the Huntsman. » 11/20/14 7:40am 11/20/14 7:40am
The best part of Edge of Tomorrow isn't the mad action, great fights or wonderful chemistry between Tom Cruise and Emily Blunt, it's the humor. And Tom Cruise delivers each ham-boned or cowardly line so well. And if you don't believe us, check out this supercut. » 10/08/14 7:00am 10/08/14 7:00am
We loved Edge of Tomorrow. We love it even more after watching this behind the scenes footage, which reveals the film's extensive use of practical effects. » 9/13/14 12:00pm 9/13/14 12:00pm
Release the robot spiders! Steven Speilberg is developing a Minority Report pilot over at Amblin television. A PreCrime police procedural? Sure, we can see it. But will it start off by falsely accusing Chief John Anderton as a crime, or not? » 8/21/14 3:31pm 8/21/14 3:31pm
Dammit, we loved Edge of Tomorrow. If you haven't gone to see this movie, get thee to the movie theater. It's just great. And no real surprise here, the concept art is absolutely gorgeous, channeling the gritty Starship Troopers-meets-Band of Brothers feel hard. Plus, MORE ALIENS! » 6/16/14 8:40am 6/16/14 8:40am
We've been reliving the same events over and over again. We keep getting excited for an original science fiction movie, like Elyisum. Or Oblivion. Only to be disappointed. Which is why Edge of Tomorrow is such a thrill. At last, Tom Cruise has broken the cycle of drek. This is the first movie in ages that does scifi… » 6/06/14 6:45am 6/06/14 6:45am
As you likely know from the trailers, the scifi movie Edge of Tomorrow is about Tom Cruise reliving a single day until he can somehow change the course of a battle against alien invaders. To do so, he trains with Emily Blunt, who kills him whenever they need a "reset." Apparently she took her role seriously. » 6/05/14 5:30pm 6/05/14 5:30pm
Wanna glimpse until what all the fuss is about on Doug Liman's Edge of Tomorrow? Here are four alien-killing clips that demonstrate the battle-heavy nature of this Groundhog Day-with-guns movie. » 5/26/14 7:30am 5/26/14 7:30am
We were always slightly excited for Tom Cruise's Groundhog Day-meets-Starship Troopers movie Edge of Tomorrow, but we had no idea it was this good! We've seen Edge of Tomorrow and it is spectacular fun. Here's our (practically spoiler-free) first impressions. » 5/22/14 2:40pm 5/22/14 2:40pm
Edge of Tomorrow is a time looping movie that sends Tom Cruise back to a specific point before a massive alien invasion kills countless humans. But the schematics have been a little shaky, until now. This latest trailer lines up the twisty time loop, now with more Bill Paxton. » 5/12/14 3:40pm 5/12/14 3:40pm
Top Gun is an American classic. The Tom Cruise feature had bromance, jets, motorcycles, passionate kisses, heartbreak and volleyball. Sadly the sequel sounds nothing like the original — it's basically Tom Cruise versus the machine. And it sounds kind of terrible. » 4/01/14 2:20pm 4/01/14 2:20pm
Tom Cruise doesn't just live the same combat mission over and over again in Edge of Tomorrow—he also dies a whole lot. Watch a few of the many deaths of Cruise in the latest trailer, including one at the hands of Emily Blunt. » 3/25/14 10:24am 3/25/14 10:24am
Tom Cruise is cursed to repeat his life in Edge of Tomorrow, but he isn't stuck on Groundhog Day. He's stuck in a weapons-laden powersuit, in the middle of an alien invasion, where he dies... and then he wakes up to do it all over again. The first trailer reveals that if nothing else, the action scenes will be… » 12/11/13 10:20am 12/11/13 10:20am
Just four years ago, Haikasoru started as an imprint of Viz Comics, publishing Japanese science fiction books in translation. Now Tom Cruise is starring in a movie of All You Need is Kill, and there have been a slew of award nominations. » 7/31/13 1:31pm 7/31/13 1:31pm
We've seen the footage from Tom Cruise's new Super Troopers-eque war movie, Edge of Tomorrow. And now we're getting a closer look at the suits Tom Cruise and Emily Blunt wear to kick ass in. » 7/22/13 3:35pm 7/22/13 3:35pm
Tom Cruise and Emily Blunt are starring in a big-screen adaptation of the Japanese novel All You Need is Kill, now called Edge of Tomorrow. And the first footage, which just showed at Comic-Con, is dark, moody, and full of exo-suit mayhem. Spoilers ahead... » 7/20/13 2:10pm 7/20/13 2:10pm
Emily Blunt and Tom Cruise sit with their top-heavy gear in the first official image from All You Need is Kill. » 7/14/13 8:30am 7/14/13 8:30am
Right now, to promote the release of Tom Cruise's action movie Jack Reacher, there's a promotion where you can ask Jack whatever you want. If you ask, "Should I kill my hamster?" He replies, "Act. Don't react." » 4/25/13 4:13pm 4/25/13 4:13pm


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Manulife One and Preferred Rate Mortgage Advisor Guide 1 2 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 13 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 45 6. Working with Manulife Bank 46 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. 47 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 48
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Fusilade II - Ground Cover
lawnchair(Zone 9)August 14, 2007
Anyone tried Fusilade II on an area with ground cover such as dwarf jasmine ? I've got all sorts of weeds growing in my ground cover, including nutsedge, dove grass, Alexander grass, crab grass and various others ?
Weed(OR 6/7)
I see two Jasmines on the label but am not familiar with them.


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Originally written on NESN.com | Last updated 11/17/14
Tony Parker put a bit of a damper on the Spurs' dominating win over the Heat on Tuesday when he left the game with a slight hamstring strain. After an MRI on Wednesday morning showed a Grade 1, or "slight," strain, Parker and Spurs coach Gregg Popovich remained hesitant about predicting the point guard's status for Game 4 on Thursday. On Thursday, Parker could not promise he will not be hampered by the injury, but he did say it will not keep him off the court. Parker reportedly responded to numerous reporter inquiries about his health by saying only, "I'll be ready to go." Parker was hurt early in the second half of the Spurs' 113-77 win to take a 2-1 lead over the Heat in the NBA Finals. He scored 21 points in Game 1, but his scoring has dropped off in the last two games due to greater attention paid to him by the Heat's defense. Related articles Tony Parker's status for Game 4 of NBA Finals unknown after hamstring injury (nba.si.com) Report: Tim Duncan, Tony Parker Miss Warm-Ups for NBA Finals Game 3 After Getting Caught in Traffic (nesn.com)
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