We recently launched a new feature on My Empire allowing your clients to view their investments’ net growth and transaction details* online.
Based on feedback received from clients and advisors about this new feature, we have modified the way we are displaying this feature to be more consistent with industry best practices. Effective July 14th, this feature will now utilize a simplified approach for displaying the Net Growth calculation – showing only the deposit and withdrawal amounts that clients have made. The details shown in this new net growth calculation will be different than what clients may have previously viewed, as they included fund switches in and out as deposits and withdrawals. Switches will still be shown in clients’ transaction history but not in their net growth calculation.
An email communication will be sent to your clients informing them of this change. You can view it here.
A few points to note:
- Deposits, withdrawals and net growth will be different from what you currently see on the Business Centre, where fees and switches are included in the Account Net Investment (net growth) calculation.
- Deposits and withdrawals as shown on your clients’ semi-annual statements will continue to include switches in and out, and fees.
- The amounts shown on the Business Centre and on your clients’ statements are displayed differently as the statements show activity for the last 6 month period. The Business Center shows amounts since account inception.
To view their updated investment net growth and transaction history, clients will need to simply log-in to their MyEmpire account, select their policy and click on “Net growth & transactions”.
MyEmpire is a safe and secure, self-serve online portal where clients can:
- Access their Empire Life investment and insurance policy information
- Download their investment statements and tax documents
- View daily market values** of their funds
- View their death and maturity guarantee amounts
To help your clients take advantage of the benefits of this self-serve portal, encourage them to sign up for MyEmpire today.
Not using My Advisor Dashboard yet? Click here to login or register.
* Segregated fund policies that are inforce and have been funded. Net growth and transaction history will not appear for clients with Guaranteed Interest Options in their contract.
**Market values are as of the previous business day. Any transactions received before 4 p.m. on current day will be reflected on next business day’s evaluations.
Empire Life Investments Inc. is the Portfolio Manager of the Empire Life Segregated Funds. Empire Life Investments Inc. is a wholly-owned subsidiary of The Empire Life Insurance Company. A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value.
FOR ADVISOR USE ONLY
