Toronto — The Canadian Press Published on Thursday, Nov. 12, 2009 9:47AM EST Last updated on Wednesday, Jan. 20, 2010 6:55PM EST
Sun Life Financial SLF-T and National Bank of Canada NA-T say they are forming a strategic partnership that will give Sun Life Financial advisers access to a wide range of National Bank financial products for clients.
The deal between Canada's third-largest insurance company and sixth-largest bank makes each more competitive and able to sell more financial services together.
“Access to these National Bank products, along with Sun Life Financial's industry-leading life insurance, health insurance and wealth management products, positions our advisers to continue to meet the complex financial needs of Canadians,” said Kevin Strain, senior vice-president of individual insurance and investments at Canada's third-largest insurer.
Martin Lavigne, senior vice-president of third-party business for National Bank, said the transaction “is a great example of National Bank's strategy to further its expansion in select markets through strategic alliances.”
“The objective is to grow National Bank's third-party distribution by developing partnerships that can quickly deliver a competitive and comprehensive value proposition, including a suite of lending products.”
Through more than 3,000 Sun Life Financial advisers, consumers can now get access to National Bank financial products, ranging from RRSP loans, to all-in-one accounts, mortgages and investment loans.
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