Net inflows in retail wealth management dropped by 87%
Retail fund sales remained positive as customers sought cash-equivalent products
Results reflect impacts of Hurricane Ian, market volatility
Insurance sales in Canada were up 28%
At an annual Advocis event, FSRA raised concern about sales incentives being misaligned with customer needs
The regulator alleged a firm's training instructs life agents to mislead consumers, which the firm refutes
Shifts occurred across all industry segments
Draft Ontario MGA regulation coming in 2023 as a result of concerns found in FSRA's review
The lifeco is expanding its Vitality program to universal life and par policies
Also, annuity and seg fund premiums increased 21%
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