Greatway Financial Response to FSRA Notice of Proposal
The FSRA Order has concluded, read more about it here:
Unwavering Excellence through FSRA Order Conclusion - Greatway
Greatway Financial’s vision is to educate Canadian families on insurance strategies to help them invest in and secure their futures. We help our clients make decisions that are tailored to their needs. We want all our clients to feel confident in their insurance and investment choices knowing that they’re protected against risk while still investing in their future.
We respect the FSRA’s role as the regulator for our industry, but we do not believe the FSRA’s report accurately reflects how we do business. On the contrary, we believe that the facts do not support a number of items the FSRA has raised, and we will be requesting a hearing before the Financial Services Tribunal with the primary purpose of allowing Greatway Financial time to resolve matters with the FSRA in a non-adversarial manner.
Greatway Financial’s agents are among the most knowledgeable in the industry. Our eight-hour policy delivery training is accredited by three other provincial insurance regulators in Canada. In this training, Greatway Insurance Agents are trained to thoroughly explain to their client the Life Insurance Product for at least two hours, including the key risks and disclosures of the policy. Please note that this is not the standard industry practice. In the last year alone, we’ve delivered over 1,250 hours of mandatory policy delivery explanation training to our insurance agents.
However, we also believe that continuous improvement is important and leads to an even better quality of service for our customers. In that spirit, we are committed to working with the FSRA to address the concerns they have raised.
We pride ourselves on being a leader in the life insurance industry in Canada and will always endeavour to deliver value to our clients and a rewarding career to our employees and agents.
For Media Inquiries, please contact:
Ron Pagcaliwagan
Director of Marketing
Greatway Financial
Email: contact@greatwayfinancial.com