Quebec City-based Industrial Alliance Insurance and Financial Services Inc. (IA) is launching a new registered education savings plan (RESP) in conjunction with new electronic enrolment procedures for RESPs to simplify that process for financial advisors and their clients.
“My Education+” is the firm’s most recent addition to its RESP lineup and it offers a range of segregated funds and a high-interest account.
“It is very important for us to encourage and enable families to save for their children’s education,” says Marie-Claude Poulin, director of savings and retirement products with IA, in a statement. “With its guarantee and competitive management fees, My Education+ better meets the needs of our clients and allows them to save more for their children’s future.”
IA is also looking to improve the enrolment process for these products as it has developed an electronic tool that will make advisors’ preparation of documents for the sale of an RESP simpler and faster, according to the firm’s announcement.
Clients can also now sign up for an RESP through IA’s website and have their contributions invested automatically in a high-interest account.
“Our goal is really to make enrolment for clients and the work of advisors easier so that the RESP can become the No. 1 solution for families wanting to save for their children’s education,” says Manon Gauthier, vice president of individual savings and retirement with IA, in a statement. “The government grants offered are a major advantage specific to the RESP and we want to enable a maximum of families to take advantage of them.”
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