In Canada, assets under management were up 3% in 2023
Net earnings were down for the company's Canada segment
Licensee was contracted with one of three MGAs reviewed for tiered recruitment model
New guidance will target responsibilities of insurers, MGAs, and identify suitability requirements for life agents
The quarter also saw net outflows, lower AUM
Growth in wealth management and Canadian insurance activities led to the gain
The clampdown includes the sale of unsuitable universal life policies
Total premiums collected by insurers also rose in 2022, according to the CLHIA
Alleged misconduct included untrustworthiness, fraud and deception
Although there are tools to help, financial advisors still say it’s best to maintain updated information