It's already happening. Near where I live Royal Bank has a new branch. Right next door in the same building you can find RBC Insurance. The bank and the insurance office have separate entrance but the branding, the logos etc. are exactly the same.
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What do you think of the banks now?
It has been a few years since the market crash and I made a vow to educate myself re our financial investments. By and large I am satisfied with how our money is invested but I am a little obsessed with this new area of interest and drive my youngest son crazy talking about the financial situation. It worked and he launched out of the house 2 years ago.
I have been watching Manulife for a few years and wondering how they are managing to cope with all the financial uncertainty. I was always glad that the insurance and banking business were seperate and a little leery when I heard banks were going to sell insurance. Lately I have been hearing more and more about annuities and with all the baby boomers retiring I think that is a product that might be advertised (flogged) more. So I wasn't surprised to hear the banks getting involved with insurance. Now my youngest son tells me he is being scouted to work on the insurance side of one of the major banks. The pressure will be on for us to buy annuities. My humble prediction.
It has been a few years since the market crash and I made a vow to educate myself re our financial investments. By and large I am satisfied with how our money is invested but I am a little obsessed with this new area of interest and drive my youngest son crazy talking about the financial situation. It worked and he launched out of the house 2 years ago.
I have been watching Manulife for a few years and wondering how they are managing to cope with all the financial uncertainty. I was always glad that the insurance and banking business were seperate and a little leery when I heard banks were going to sell insurance. Lately I have been hearing more and more about annuities and with all the baby boomers retiring I think that is a product that might be advertised (flogged) more. So I wasn't surprised to hear the banks getting involved with insurance. Now my youngest son tells me he is being scouted to work on the insurance side of one of the major banks. The pressure will be on for us to buy annuities. My humble prediction.
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