High-interest account gives clients of fee-based financial advisors a secure place to invest
WATERLOO, ON, Nov. 1 2006 – Manulife Bank today announced the launch of their Investment Savings Account F-Class. Exclusively available through fee-based financial advisors, it is a high-interest investment account designed to help Canadian investors earn greater income on their cash.
Manulife Bank launched its original Investment Savings Account in 2005 and the addition of the new F-Class version gives Canadians a high-interest alternative to money market funds and short-term GICs for their savings. Clients are offered a secure, liquid investment at a premium rate of interest on every dollar (currently 3.85 per cent (Investment Savings Account) and 4.10 per cent (Investment Savings Account F-Class)(1). Both can be used for eligible registered plans such as RRSPs, RRIFs, RESPs and LIFs, as well as non-registered investment accounts.
“Canadians want a safe place to grow their cash,” says J. Roman Fedchyshyn, President and CEO of Manulife Bank. “Our Investment Savings Accounts give people the ability to let their short-term savings earn a great rate of interest, without locking them in for an extended period of time.”
Since 1993, Manulife Bank – a wholly-owned subsidiary of Manulife Financial – has been providing Canadians with innovative banking products that can be incorporated into a broader financial plan. “Many Canadians already know the importance of including banking products in their financial plans. Working with an advisor will help ensure all components work well together and work towards the client’s overall financial goals,” says Fedchyshyn.
The F-Class Investment Savings Account joins Manulife Bank’s suite of premium banking products that includes Advantage Account, a high-interest full-access chequing account for individual Canadians, Business Advantage Account, a high-interest investment account designed to help Canadian businesses earn income on their short-term cash, and Manulife One, Canada’s first all-in-one mortgage, chequing account and line of credit.
(1) As at October 18, 2006, variable annual interest rates of 3.85% (Investment Savings Account) or 4.10% (Investment Savings Account F-Class) are applied to all funds in the account. Interest is calculated on the total daily closing balance and paid monthly. Rate is subject to change.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$370 billion (US$332 billion) as at June 30, 2006.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.