Advisors at heart of wealth transformation
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With the launch of its own investment fund management firm, an expanded modern product shelf, and more than 170 years helping Canadians, Canada Life is ready to elevate your business
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CANADA LIFE is woven into the fabric of this country. It’s been providing financial solutions for 170 years and, through insurance, group benefit plans, and investment offerings, estimates it touches a staggering one in three Canadians. Now, its wealth arm is undergoing a radical transformation.
Having offered its first segregated fund in the 1960s, the company has long been a trusted partner of investors and financial advisors. Today, it has about $98 billion in investment assets under management or administration and last year supercharged its wealth offerings with the launch of Canada Life Investment Management Ltd. (CLIML), its own investment fund management firm.
CLIML CEO and president Steve Fiorelli took the helm, having joined the company in 2019 as SVP of wealth solutions. He believes that by bringing fund management capabilities under its own roof, the company is now even more responsive to advisors and their clients’ changing needs.
“Delivering exceptional investment outcomes for our clients inspires everything we do, and our solutions are designed with this singular goal in mind,” he says.
Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical, and mental well-being of Canadians. For more than 170 years, individuals, families, and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we've made.
On January 1, 2020, Great-West Life, London Life, and Canada Life became one company – Canada Life – and today, we proudly serve more than 12 million customer relationships from coast to coast to coast.
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Asset Class Gross Sales for 2021
Domestic Balanced
Domestic Balanced
“We strive to provide investment solutions that will enable clients to enjoy a stress-free retirement, support their child’s education, save toward their dream home, and so much more”
Steve Fiorelli, CEO and President,
Canada Life Investment Management Ltd.
Global reach
CLIML’s in-house team picks leading investment managers from around the globe, working with them to craft relevant and competitive investment solutions. In 2020, Canada Life launched nine new segregated funds and also expanded its mutual fund line-up with 18 new additions, with a focus on building out its global offering. Global categories captured the lion’s share of flows, primarily within global balanced. This has been the trend in Canada for several years. “Investors are telling us what they want, and we’re listening,” says Fiorelli.
Canada Life also continues to elevate its suite of managed solutions, an area to which investors have increasingly turned since the tumult of the 2008 financial crisis. These provide access to multiple funds in a single solution and are designed to deliver broad diversification and complementary investment strategies.
“You simply aren’t going to get the big returns from an all-bond portfolio like you would 15 years ago,” Fiorelli says. “You need to diversify thoughtfully and cast a wider net when looking for return opportunities. You also have to put the right buffers in place so that client portfolios remain resilient. Managed solutions help take some of that burden off the advisor.”
A recent addition to Canada Life’s managed solutions suite is the Canada Life risk-managed portfolios, which is available as a mutual fund and a segregated fund. It offers more predictability and consistency by using four distinct risk-management levers: a risk reduction pool that uses an option strategy; lower-volatility equity mandates; a global tactical equity solution designed to reduce equity exposure in
Fiorelli insists, however, that Canada Life is not just about selling product and is committed to ramping up efforts to deliver thought leadership straight to advisors’ inboxes and social feeds. Programs like its PM connect series, Investments Live!, Elevate your Business, Investment Executive Soundbites, and CLIML article series deliver timely market and investment insights to help advisors set their own strategic perspective and build stronger portfolios for clients.
While today’s investment challenges centre on inflation, interest rates, heightened volatility, and muted return expectations, Fiorelli believes the best investment approaches are ones that provide greater reach within multi-sector fixed-income exposure, multi-layer equity diversification, and expanding access to alternative asset classes.
“I’d like to reinforce our commitment to being a strong partner – for your clients and your business,” he says. “Canada Life has undergone a transformative change where we’ve built up leading capabilities across multiple asset classes that allows you, the advisors, not only to deliver against your clients’ expectations but do so in a way that expands your productivity and efficiency.”
“We believe strongly that we've got a world-class wholesale organization that can not only support the positioning of our solutions, but also help advisors think about their business and how to grow their wealth practices”
James McKay, Senior Vice President, Wealth Distribution & Advisor Compliance, and President and CEO of Quadrus Investment Services Limited
Empowering advisors
In addition to this strength in wealth, James McKay, SVP, wealth distribution & advisor compliance, and president and CEO of Quadrus Investment Services Limited, says Canada Life’s history of performance in the insurance market means it can naturally relate to investors’ desire to protect themselves and their families. He says Canadians are looking for someone they trust.
For him, it’s all about partnering with advisors and enabling them to grow their businesses while helping clients with their increasingly complex financial needs. As the industry increasingly shifts from individual security selection to more managed solutions, advisors are able to spend more time on client relationships.
“We believe strongly that we've got a world-class wholesale organization that can not only support the positioning of our solutions, but also help advisors think about their business and how to grow their wealth platform,” McKay says.
“We have the ability to partner with advisors wherever they are in the wealth business, whether that’s in the mass and mid-affluent space or working with clients with more complex needs. What do they need? Well, they actually look a little bit different [from each other], but our goal is to offer that spectrum of solutions and access to the support they are seeking – whether that is engaging with our wholesale teams or drawing on our tax, estate, and investment expertise.”
With a deep commitment to wealth and the solutions of the future, backed up by decades of experience helping Canadians, advisors are at the forefront of Canada Life’s new era.
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Share
These funds are available through a segregated funds policy issued by The Canada Life Assurance Company or as a mutual fund managed by Canada Life Investment Management Ltd. offered exclusively through Quadrus Investment Services Ltd. Make your investment decisions wisely. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. A description of the key features of the segregated fund policy is contained in the information folder. Any amount allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value.
Canada Life and design, Canada Life Investment Management and design, Canada Life Risk-Managed Portfolios, Constellation Managed Portfolios and Canada Life Sustainable Portfolios are trademarks of The Canada Life Assurance Company. Third party trademarks are used with permission or under license.
Asset allocation solutions as percentage of financial wealth
1998
5.4%
2008
11.9%
24.5%
31.7%
2028
2018
(expected)
Source: Investor Economics. (2019, June 27). Investor Economics 2019 household balance sheet report – Canada
Net flows by IFIC Broad Based Asset Classes ($000’s)
Domestic Equity
Domestic Fixed Income
Global and High Yield Fixed Income
Global & International Equity
Global Balanced
Money Market
Sector Equity
Specialty
U.S. Equity
*as of March 31
Domestic Equity
Domestic Fixed Income
Global and High Yield Fixed Income
Global & International Equity
Global Balanced
Money Market
Sector Equity
Specialty
U.S. Equity
0
20B
40B
60B
80B
100B
120B
140B
look a little bit different [from each other], but our goal is to offer that spectrum of solutions and access to the support they are seeking – whether that is engaging with our wholesale teams or drawing on our tax, estate, and investment expertise." says McKay.
With a deep commitment to wealth and the solutions of the future, backed up by decades of experience helping Canadians, advisors are at the forefront of Canada Life’s new era.
A recent addition to Canada Life’s managed solutions suite is the Canada Life Risk-Managed Portfolios , which are available as mutual funds and segregated funds. They strive to offer more predictability and consistency by using four distinct risk-management levers: a risk reduction pool that uses an option strategy; lower-volatility equity mandates; a global tactical equity solution designed to reduce equity exposure in response to market volatility; and liquid alts that seek uncorrelated sources of return.
Heightened volatility has become the new norm, and this solution strives for strong risk mitigation, going beyond traditional diversification without forgoing upside returns.
Another notable multi-asset solution is the Canada Life Sustainable Portfolios . These portfolios focus on identifying, measuring, and managing environmental, social and governance (ESG) attributes to help clients work toward their financial goals in a socially conscious way. Canada Life also offers Constellation Managed Portfolios . This is a goals-based managed investment program with an interactive digital tool that allows advisors to set goals for their clients, select model portfolios and customize the investment fund mix.
Fiorelli insists, however, that Canada Life isn’t just about selling product and is committed to ramping up efforts to deliver thought leadership straight to advisors’ inboxes and social feeds. Programs like its Portfolio Manager Connect Series, Investments Live!, Elevate your Business, Investment Executive Soundbites, and CLIML thought leadership articles deliver timely market and investment insights to help advisors set their own strategic perspective and build stronger portfolios for clients.
While today’s investment challenges centre on inflation, rising interest rates, heightened volatility and muted return expectations, Fiorelli believes that some of the best investment approaches are ones that provide greater reach within multi-sector fixed-income exposure, multi-layer equity diversification and expanding access to alternative asset classes.
“I’d like to reinforce our commitment to being a strong partner – for your clients and your business,” he says. “Canada Life’s wealth business has undergone a transformative change where we’ve built up leading capabilities across multiple asset classes that allows you, the advisors, not only to help deliver on your clients’ expectations but do so in a way that helps expand your productivity and efficiency.”
Empowering advisors
In addition to this strength in wealth, James McKay SVP, Wealth Distribution & Advisor Compliance, and President and CEO of Quadrus Investment Services Limited says Canada Life’s history of performance in the insurance market means it can naturally relate to investors’ desire to protect themselves and their families.
For him, it’s all about partnering with advisors and enabling them to grow their businesses while helping clients with their increasingly complex financial needs.
“We have the ability to partner with advisors wherever they are in the wealth business, whether that’s in the mass and mid-affluent space, or working with clients with more complex needs. What do they need? Well, they actually
Canada Life also continues to elevate its suite of managed solutions, an area to which investors have increasingly turned since the tumult of the 2008 financial crisis. These provide access to multiple investment strategies in a single solution and are designed to deliver broad diversification, access to unique investment opportunities and complementary investment strategies.
“You simply aren’t going to get the big returns from an all-bond portfolio like you would 15 years ago,” Fiorelli says. “You need to diversify thoughtfully and cast a wider net when looking for return opportunities. You also have to put the right buffers in place so that client portfolios remain resilient. Managed solutions are constructed to help take some of that burden off the advisor .”
CANADA LIFE is woven into the fabric of this country. It’s been providing financial solutions for more than 170 years and, through insurance, group benefit plans, and investment offerings, estimates it touches a staggering one in three Canadians. Now, its wealth arm is undergoing a radical transformation.
Having offered its first segregated fund in the 1960s, the company has long been a trusted partner of investors and financial advisors. Today, it has about $98 billion in assets under administration. Last year, the company supercharged its wealth offerings with the launch of Canada Life Investment Management Ltd. (CLIML), its own investment fund management firm.
Gross sales ($B)
Source: Investment Funds Institute of Canada, 2021
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1 Source: https://www.canadalife.com/investment-management
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CLIML CEO and President Steve Fiorelli took the helm, having joined Canada Life in 2019 as SVP of Wealth Solutions. He believes that by bringing fund management capabilities under its own roof, Canada Life is now even more responsive to advisors and their clients’ changing needs.
“Delivering exceptional investment outcomes for our clients inspires everything we do, and our solutions are designed with this singular goal in mind,” he says.
Global reach
CLIML’s in-house team scours the globe to identify a curated group of leading investment managers and works with them
to craft relevant and competitive solutions. This multi-manager approach allows CLIML to offer advisors the investment expertise of talent based across Canada and around the world. In 2020, Canada Life launched nine new segregated funds and CLIML expanded its mutual fund line-up with 18 new additions, both with a focus on building out its global offering. Global categories captured the lion’s share of fund flows, primarily within global balanced. This has been the trend in Canada for several years. “Investors are telling us what they want, and we’re listening,” says Fiorelli.