In order to qualify for the program, advisors must adhere to the following requirements and obligations:

Fair Treatment of Clients:

Advisors must ensure that they are aware of and adhere to all applicable laws, regulations and industry standards. Advisors need to ensure they:

  • Engage in needs-based sales practices
  • Provide suitable product recommendations
  • Disclose and, where required, avoid conflicts of interest
  • Provide Clients with timely service
  • Handle Client concerns promptly
  • Communicate with Clients clearly,
  • Provide Clients with information that is easy to understand

Persistency and Market Conduct Audits:

All new Strategic Partner Program advisors' business is reviewed for persistency before they receive their qualification email. If they meet the persistency threshold, they can enter the program.

Prior to qualification and during the annual qualification period, Sun Life Independent Insurance Distribution Risk will review all qualified advisors to ensure they have passed all open market conduct audits. If the new Strategic Partner Program advisor is under investigation, or market conduct concerns have been identified, Sun Life reserves the right to deny entry until any reviews are concluded.

If an advisor receives an “inadequate” market conduct rating after being admitted into the program, they will be given 90 days to improve it. If after 90 days they have not resolved the audit concerns, Sun Life Independent Insurance Distribution Risk reserves the right to remove them from the program.

Independent Insurance Distribution Risk will continue to monitor for market conduct audit and persistency concerns.