Sun Life Financial and National Bank of Canada: strategic partners to give clients more financial options

TORONTO and MONTREAL - Sun Life Financial and National Bank today announced they are forming a strategic partnership that will give Sun Life Financial advisors access to a wide range of National Bank lending products for clients, including National Bank's award-winning "All-In-One" account.

"Sun Life Financial is dedicated to helping Canadians achieve lifetime financial security," says Kevin Strain, Senior Vice-President, Individual Insurance and Investments, Sun Life Financial Canada. "Access to these National Bank products, along with Sun Life Financial's industry-leading life insurance, health insurance and wealth management products, positions our advisors to continue to meet the complex financial needs of Canadians." "This exciting partnership with Sun Life 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," said Martin Lavigne, Senior Vice-President, Third-Party Business Solutions, National Bank Financial Group.

Working with over 3,000 Sun Life Financial advisors, clients will now be able to choose from a wide spectrum of National Bank brand products, including:

- an RRSP loan program, starting in November 2009

- the "All-In-One" account and conventional mortgages, on an advisor referral basis, beginning in March 2010

- investment loans in the spring of 2010.

"We believe that our products will complement Sun Life Financial's products and help meet the needs of their existing and future clients. Making customers our top priority resulted in the National Bank's 'All-In-One' account being named the 2008 Mortgage of the Year by Canadian Mortgage Trends," explains Lavigne.

Here are some of the many benefits clients will enjoy:

- the ability to consolidate their consumer debts at a competitive interest rate

- a consolidated view of all of their cash management activities in one monthly statement

- free, unlimited electronic transactions, unlike many providers that charge a monthly fee

- minimum amount of $25,000 to open a line of credit, compared to a $75,000 minimum for other providers' accounts.

By investing in product development, services and partnerships, Sun Life Financial increases the number and quality of products available for clients, offers new tools for advisors and enhances its innovative leadership in the wealth market.